We encourage all businesses to take note, as there are only a few days left to spend your old «dozens». You can deposit obsolete notes or coins for up to £300 into your bank account from 15 September at some local post offices. Here are all the branches where you can exchange old banknotes, according to the Bank of England. No, you don`t need to swap your old design notes for new ones. All U.S. currencies are legal tender, regardless of the date of issue. They can also give you old tickets to charity. Many charities accept foreign coins, but some, such as the Royal National Institute of Blind People, also accept coins that have also been withdrawn from circulation. On October 15, 2017, a new 12-sided coin replaced the old one. The old five-pound note ceased to be legal tender on 5 May 2017. The old ten-pound notes have been used since 1. March 2018 is no longer legal tender. You can read more about banknotes here.
Date of first publication: August 7, 1914 Date of resignation as legal tender: June 12, 1920 Color: Black on white (printed on one side only) Size: 5″ x 2 1/2″ (127mm x 64mm) Design: Designed at the Royal Mint on sketches by Frederick Atterbury. Printed by Waterlow Bros. and Layton after plates by Eyre and Spottiswoode. Printed on stamped paper. Nicknamed «Bradburys» because of the signature of Sir John Bradbury, Permanent Secretary to the Treasury. Date of first issue: 1759 Date no longer legal tender: 16 April 1945 Color: Monochrome (printed only on one side) Size: 8 1/4″ x 5 1/4″ (211mm x 133mm) Design: Banknotes from previous years are slightly smaller. Also issued by branches of the Bank of England from 1826. Download our free educational material to check your banknotes. The 5 and 10 pound notes are no longer in circulation and have been replaced by polymer versions in recent years. Polymer notes of £20 and £50 are already in circulation. Old paper notes worth £20 and £50 are still legal tender, and the Bank of England has set 30 September 2022 as the deadline for withdrawing them from legal tender.
The Bank of England is flexible when it comes to accepting old banknotes and you should have no difficulty exchanging old notes and coins with your bank or post office. However, if your business operates on physical currency, you may be concerned that currency changes will affect your cash flow. If you missed the deadline for old ten-pound bills or old five-pound notes, but still have a few in your possession, don`t worry. You may be able to deposit them directly into your bank account or receive an exchange. Your next article may also be able to help you. Banks and post offices may be able to interrupt this service. But for now, as long as you have two original forms of identification, you shouldn`t have a problem changing your old notes. The replacement of the pound note reflects a growing global trend towards the phasing out of paper money with a lower face value. A new design for one-pound notes was introduced in 1960, with the old banknotes no longer legal tender in 1962. These new C-notes in the series were slightly narrower and were the first one-pound notes to feature a portrait of Queen Elizabeth II on the obverse. The inverted design included the Bank of England logo. Series C banknotes were replaced by Series D banknotes from 1978.
These slightly smaller notes featured a brand new design with Queen Elizabeth II on the obverse and scientist and Royal Mint Master Isaac Newton on the reverse. The note was slightly revised in 1981 to achieve lighter background colors. [2] Following consultations with retailers and other groups, it was announced on July 31, 1981 that the one-pound note would be replaced by a one-pound coin. Inflation had reduced the average orbital life of the note to nine months, and the vending industry preferred coins to banknotes. The new nickel brass coin was introduced on 21 April 1983 and the one-pound note has ceased legal tender since 11 March 1988. [2] [3] The Bank of England`s 1 pound notes are still occasionally in circulation in Scotland, alongside the 1 pound notes of the Scottish banks. The Bank of England will exchange the old £1 notes for face value forever. There are only 30 days left to use the old £20 and £50 paper banknotes. If you think you have them (don`t forget to look behind the couch and kids` ticket offices), you only have until September 30 to take them out or check them in. After that date, they will no longer be legal tender, the Bank of England said.
We explain what you need to do – and what to do if you also find old «dozens». As with any change in banknote design, all banknote users must plan and prepare polymer banknotes. For more information on preparing for your transaction, visit the Bank of England website. This corresponds to 300 million individual £20 notes and 160 million £50 notes. Is it legal for a company in the United States to refuse money as payment? While the Bank of England will exchange banknotes indefinitely, it will not exchange coins.