Brits have just one month left to spend old £20 and £50 notes before expiry date
Old paper £20 and £50 notes are set to become discontinued.
Brits have been warned they have just one month to use the money before its expiry date.
The Bank of England will withdraw the legal tender status of those notes after September 30, 2022.
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Before this date, you can still spend your paper £20 or £50 bank notes in stores.
You can also deposit them, either at the bank or Post Office, alternatively you can swap them for polymer notes.
If you miss the September 30 deadline, you can still swap them at the Bank of England.
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You can do this either in person or by post, just make sure you send your bank notes by recorded delivery in case they get lost.
To post it, the address is: Dept Nex, Bank of England, Threadneedle Street, London EC2R 8AH.
If you’re going to the Bank of England in person, you might have to fill in a form and provide ID too.
In return, you’ll get the same value back in the new polymer notes.
The Bank of England said most places should still allow customers to exchange old bank notes after they’re no longer legal tender.
Even the Post Office might still accept withdrawn notes as a deposit into any bank account you can access with them.
The Bank of England said: “30 September 2022 will be the last day you can use Bank of England paper £20 and £50 notes.
“We encourage people to spend them or deposit them at their bank ahead of this date.”
Old paper £20 and £50 bank notes have been replaced by longer-lasting polymer versions.
The new £20 note features the artist JMW Turner and it entered circulation on February 20, 2020.
As for the new £50 note, this was dedicated to World War Two codebreaker Alan Turing and was released on June 23, 2021.
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