Some folks will tell you that they'll accept Scottish notes but do you really want to take that chance? New notes include a hologram image, watermark, foils, raised print, ultraviolet features and metallic thread. Take sterling and you won't have to worry. LBC News Do note, while we always aim to give you accurate product info at the point of publication, unfortunately price and terms of products and deals can always be changed by the provider afterwards, so double check first. AIB Group (UK) plc (previously trading as First Trust Bank in Northern Ireland) ceased issuing banknotes on 30 June 2020. If youve got a large amount of notes stashed away worth knowing there is a limit on the amount you can exchange at the Post Office which says you can only swap up to 300 in old notes every two years. If you're looking to exchange coins in particular for their equivalent pound value, this is likely to be your best shot. When you purchase through links on our site, we may earn an affiliate commission. Regardless of their age, there are ways to get some money back for them but we encourage everyone who can to consider donating their old currency to charity where possible. Get our money-saving tips and top offers direct to your inbox with the Mirror Money newsletter. Steve Nowottny, news and features editor at MoneySavingExpert.com, explained: "Given paper tenners were taken out of circulation a year ago, and paper fivers almost two years ago, some might assume all the old notes have now been handed in. For further details of our complaints policy and to make a complaint please click this link: thesun.co.uk/editorial-complaints/, MoneySavingExpert reveals there are 222million paper notes out there that can no longer be used, First look at new Gruffalo 50p coin now on sale with prices starting from 10 each, paper 5 notes were scrapped way back in May 2017, polymer 20 note featuring JM Turner will be issued in 2020, slippery and "easier to lose than old ones", Royal Mint is "to release new Beatrix Potter 50p coins including Peter Rabbit", Independent Press Standards Organisation (IPSO). However the lady at the counter made an exception because I was also depositing a large amount of notes. The polymer 5 note, meanwhile, was issued in September 2016 and features Sir Winston Churchill. Yes, you can. This was the same date that the old 50 note expired. on the web. Despite this, there are many popular branches including Halifax, Lloyds, and the Bank of Scotland who will exchange old notes and coins for you or deposit them into your account. When presenting notes at the counter youll also be asked for one form of photo ID. No time limit on when this will end. 1.5K Posts. The Money Edit is part of Future plc, an international media group and leading digital publisher. Evaluate Your Coin with Confidence! No time limit on when this will end. Report . If your bank doesn't accept old notes or you can't access it via a post office, don't worry. The polymer 5 note, meanwhile, was issued in September 2016 and . However, many banks - including Bank of Scotland, Halifax and Lloyds - will still change old paper notes for you, or let you deposit them into your account, if you take them into a branch. The Bank of England itself says it will honour withdrawn currency forever, so you will still be able to swap old notes. We look at Taylor Wimpey, Persimmon and Barratt Developments. Barclays says you can deposit old notes if you have a UK bank account with it. But what should you do if you come across any old ones? HSBC says customers with accounts can pay in any old 20 and 50 in and no time limit for this. Those of you who are looking to sell large amounts of coins without searching through or trying to sort them may have better luck by selling them as a job lot. The final date you can use paper 50 notes is September 30 next year - the same goes for paper 20 notes. Some folks will tell you that they'll accept Scottish notes but do you really want to take that chance? Whilst out and about, keep an eye out for charity collection boxes in particular. . Luckily, most banks and even the Post Office will accept old pound coins, as long as they are in decent condition and not too damaged. I tried to pay in a NatWest cheque using the Halifax app and it failed. This info does not constitute financial advice, always do your own research on top to ensure it's right for your specific circumstances and remember we focus on rates not service. Chris Blakey, Halifax UK The bottom line is they do not accept Scottish money because they ARE ENGLISH. They are also harder to counterfeit, helping the central Bank lock down on fraud. It is open Monday to Friday from 9am-4pm and they will exchange any old banknotes you bring to them. In some cases you may be able to exchange some old paper notes for the current polymer version at selected Post Offices. Thanks! Disclosures made to us will be dealt with by a dedicated whistleblowing function. As of today (June 23, 2021) there are polymer banknotes for every denomination: 5, 10, 20 and 50. TSB says old 20 and 50 paper notes are still accepted over the counter in branches to deposit in TSB accounts. Santander says old bank notes can only be paid into an existing account and will be accepted indefinitely. Unique serial numbers are the easiest to find with collectors particularly favouring lower serial numbers or those with sequences such as 888888. Virgin Money says Old notes can be exchanged in any Virgin Money store up to the value of 250. Warning as old 20 notes set to become unusable. Ian Payne is Leading Britain's Conversation. It is closed at the weekend and on bank holidays. This is the version of our website addressed to speakers of English in United Kingdom. There is currently no time limit when it comes to exchanging your old banknotes at the Bank of England. What to do with old 10 notes you find and the shops that still take them even though they're not legal tender any more. Last time I was in a Bank of Scotland branch (so would assume Halifax are the same) I was told the limit is five bags over the counter. This is the version of our website addressed to speakers of English in the United States. Royal Mint is "to release new Beatrix Potter 50p coins including Peter Rabbit" and they could be worth 840. BA1 1UA. Old paper 20 and 50 notes are no longer legal tender but you can exchange them at the Bank of England, some Post Offices and many high street banks will accept them too. Businesses and shops will no longer be obliged to accept. Do note, while we always aim to give you accurate product info at the point of publication, unfortunately price and terms of products and deals can always be changed by the provider afterwards, so double check first. In fact, the only advice given by the Royal Mint themselves on the topic is to try your luck with a high street bank. Visit our corporate site. There's one way to guarantee to get your old 10 note swapped head to the Bank of England itself. There are three types of banknotes in the UK: Scottish banknotes. If you have any other questions you would like to see featured then please let us know. Lloyds says customers can exchange or deposit 20 and 50 paper Bank of England or Bank of Scotland bank notes into Lloyds Bank, Halifax or Bank of Scotland accounts. As always you can unsubscribe at any time. Banks that allow you to exchange paper notes will generally allow you to deposit the money into the account that you hold with them. This has very limited use in real life however and essentially means that any shop or other place where you try to spend the coins is not required to accept them. Wed also like to use some non-essential cookies (including third-party cookies) to help us improve the site. Taking your old currency to your bank is a good way to quickly get it exchanged without having to worry about posting it. We have a published approach to regulating Scottish and Northern Ireland banknotes. But can you still exchange them, will banks - or anyone else - accept them and what should you do with any you find? Does it have to be BoE notes? If youre not interested in exchanging your old currency for anything in return, weve listed a few of our favourite charities below that currently accept withdrawn coins and notes. These are the notes you can exchange at a Post Office. Finally, the new 10 note which was issued in September 2017 now has Jane Austen on it. Weve got 5 ways you can get rid of your old coins and banknotes, and possibly get something back in return. Customers of Lloyds Banking Group, which covers Bank of Scotland, Halifax, and Lloyds, can deposit old notes worth more than 20. Old pound coins are no longer legal tender. TSB says old 20 and 50 paper notes are still accepted over the counter in branches to deposit in TSB accounts. Members who are knowledgeable about this destination and volunteer their time to answer travelers' questions. We do this by collecting regular information and visiting the places where the assets are stored to count them and check they are held securely. You can also visit the bank in person to make an exchange at its bank counter in London. We often link to other websites, but we can't be responsible for their content. We don't as a general policy investigate the solvency of companies mentioned (how likely they are to go bust), but there is a risk any company can struggle and it's rarely made public until it's too late (see the. This should be done by recorded or special delivery - however once again it warns that this too could mean, a wait time for your payment may be in excess of 30 days. Bath If youre up for the trip you can go to the Bank of England in London where you can hand over your old withdrawn notes at the counter for shiny new polymer ones. Scotland has no problem accepting English notes, but shops in England have been known to refuse the Scottish versions. This can be a valid passport, driving licence or an national identity card from any EU country. All the Post Office branches that will accept the old paper note are listed on the Bank of England website (opens in new tab) or you can check the Post Office website (opens in new tab). 18 December 2016 at 1:58PM. We use your sign-up to provide content in the ways you've consented to and improve our understanding of you. 0. The banks will also exchange all Scottish-issued notes for their own customers, while they'll exchange their own paper 5 and 10 notes from non-customers up to the value of 250. Get answers to your questions about Icmeler, NEW: Some average prices for food, drink etc - 2019, NEW - Transfers from Dalaman- shuttles and private transfers, NEW - Icmeler - Some Tips for Icmeler Newbies, Accommodation services tax from January 2023. Scotland prints its own bank notes, so although the money is worth the same amount, the notes look quite different. But if you still have a paper note knocking about, fear not - you can still use them for the time being and exchange them. All you have to do is fill out the form below and attach a clear image of both sides of the coin. Visit our corporate site www.futureplc.com Future Publishing Limited, Quay House, The Ambury, Bath BA1 1UA. If your bank wont accept your old currency, its worth taking them to your local Post Office branch. . Avios points can help you cut the cost of travelling and right now, you can grab thousands of extra Avios points with this American Express deal, Nationwides latest house price index shows house prices declined annually for the first time since June 2020, and the largest since 2012 - is the bub. Scottish paper 20 and 50 notes, which were issued by Bank of Scotland, Clydesdale Bank, and Royal Bank of Scotland, will be replaced by polymer ones after 30 September 2022. Coins such as the Bank of England 2, an old-style 2 coin that was removed from circulation in 1997, are worth almost 6 to collectors. or Take sterling and you won't have to worry. Withdrawn coin denominations from before the decimalisation of the UKs currency system sell for much greater values than their equivalent worth in pounds, especially if youre lucky enough to have them in good condition. Find out more:best and worst banks Take them to the Post Office Alternatively, you can email us at whistleblowing@bankofengland.co.uk or write to: IAWB Team, Legal Directorate, Bank of England, Threadneedle Street, London EC2R 8AH. We use the Halifax/BOS. So here's what to do with these old notes: The Charles Darwin 10 note stopped being legal tender at 23:59 on March 1. This works out at 242 million individual 20 notes and 106 million paper 50 notes. Report inappropriate content . If youre looking to exchange old banknotes in return for useable money of equal value, your best bet is to send it directly to the Bank of England. Editor, Marcus Herbert, http://www.bankofengland.co.uk/banknotes/about/faqs.htm#16, http://www.moneysavingexpert.com/news/banking/2010/05/true-or-false-scottish-notes-arent-legal-tender. In short 'No' these notes are not legal tender; only Bank of England notes are legal tender but only in England and Wales. *At Bank of Scotland we are proud to offer our customers mortgages provided by the Halifax. Its also worth checking old coins for particular dates that are more valuable to collectors. This means that cafes, bars, shops and restaurants will no longer accept the paper 20 note. Do you have a story for The Sun Online Money team? In order to claim youll need to fill in the Bank of Englands damaged banknote application form (opens in new tab). But though the same currency is used in all four nations of the UK (England, Scotland, Wales and Northern Ireland), Scotland has its own banknotes. Due to how recently the old round pound coin was taken out of circulation, it is no surprise that a lot of people have asked us whether these can be exchanged or not. Coinciding with what would have been his birthday, the Bank of England today has released its newly-designed 50 bank note, featuring mathematician and computer scientist, Alan Turing. In some cases you will be able to exchange the paper notes for the new polymer notes even if you do not have an account with that particular bank, for example with Bank of Scotland and Virgin Money. You can exchange them at your local Post Office, bank, or with the Bank of England itself for face value. Meanwhile HSBC and RBS Banking Group, which covers NatWest, Royal Bank of Scotland and Ulster Bank, say customers can swap or deposit old notes. Of our website addressed to speakers of English in the ways you 've consented to and improve our understanding you. On bank holidays finally, the new 10 note which was issued in September 2016.! 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