Bank of England's warning to anyone who uses £20 and £50 notes ahead of September deadline

Anyone still using paper £ 20 and £ 50 noted have just 100 days until they will no longer be able to purchase good with their money.

The Bank of England says the banknotes will only be in circulation for a further 100 days.

September 30 is the last day that the Bank’s paper £ 20 and £ 50 banknotes will have legal tender status.

It is encouraging anyone who still has them to use them or deposit them at their bank or a Post Office before the end of September.

While the majority of paper £ 20 and £ 50 banknotes in circulation have been replaced with new polymer versions, there are still more than £ 6 billion-worth of paper £ 20 banknotes featuring economist Adam Smith, and over £ 8 billion-worth of paper £ 50 banknotes featuring entrepreneur Matthew Boulton and engineer James Watt, in circulation.

That is more than 300 million individual £ 20 banknotes, and 160 million paper £ 50 banknotes.

It is a year since the Bank first issued the polymer £ 50 banknote featuring Bletchley Park codebreaker and scientist Alan Turing.

The Bank of England’s chief cashier Sarah John said: “Changing our banknotes from paper to polymer over recent years has been an important development, because it makes them more difficult to counterfeit, and means they are more durable.

“The majority of paper banknotes have now been taken out of circulation, but a significant number remain in the economy, so we’re asking you to check if you have any at home.

“For the next 100 days, these can still be used or deposited at your bank in the normal way.”


Original Article reposted fromSource link

Disclaimer: The website autopost contents from credible news sources and we are not the original creators. If we Have added some content that belongs to you or your organization by mistake, We are sorry for that. We apologize for that and assure you that this won’t be repeated in future. If you are the rightful owner of the content used in our Website, please mail us with your Name, Organization Name, Contact Details, Copyright infringing URL and Copyright Proof (URL or Legal Document) aT spacksdigital @ gmail.com

I assure you that, I will remove the infringing content Within 48 Hours.

Leave a Reply

Your email address will not be published.

World News

Is There Trash Pickup on July 4? Independence Day Garbage Collection

One of the most patriotic holidays, the Fourth of July, is finally here. The cherished federal holiday is when we get together with our families and friends to celebrate the Declaration of Independence. Independence Day marks America’s independence from Britain, commemorating the day when the Second Continental Congress adopted the Declaration of Independence on July […]

Read More
World News

++ Ukraine-Krieg im Newsblog ++ Lukaschenko: "Praktisch eine Armee mit Russland"

Czech is better than the Schutz slowakischen Luftraums 19.30 Hour: Czech hilft ab September den Luftraum der Slowakei to the world, damn the fact that the campaign is under the auspices of the Rusland angegriffene Ukraine berbergeben can. The next prime minister is Prime Minister Petr Fiala on Sunday in the TV-Sender CT. In June […]

Read More
World News

'My Hero Academia' Manga On A 2-Week Hiatus; Chapter 359 Gets New Release Date

Deku is facing certain unknown entities flying towards him, while Great Explosion Murder God Dynamight has unveiled his new ultimate move. With two cliffhangers in two chapters, “My Hero Academia” manga is going on a two-week break, leaving fans wondering what kind of an action-packed chapter is in store. “My Hero Academia” Chapter 359 is […]

Read More