London Daily

Focus on the big picture.
Sunday, Jul 06, 2025

Six-month warning over £20 and £50 paper notes

Six-month warning over £20 and £50 paper notes

The Bank of England has urged people to spend or deposit their paper £20 and £50 notes before the notes stop being legal tender in six months.

The Bank is replacing the paper notes with more durable plastic ones featuring artist JMW Turner and mathematician Alan Turing.

More than £17bn worth of paper notes remain in circulation, the Bank said.

But after 30 September, people will not be able to use the paper notes for payments in shops and other businesses.

From October, people with a UK bank account will still be able to deposit the paper notes into their account.

Some Post Offices may also accept the old notes as payment for goods and services, or as a deposit to an account accessed via the postal service, the Bank said.

The paper notes can also be exchanged by the Bank of England.

Sarah John, the Bank of England's chief cashier, said bank notes were being changed from paper to polymer "because these designs are more difficult to counterfeit, whilst also being more durable".

The new plastic £50 note has a series of security features


The Bank withdrew paper £5 and £10 banknotes as legal tender in May 2017 and March 2018 respectively.

It put the polymer £50 note into circulation on 23 June 2021, meaning the Bank's entire collection of currently-printed banknotes is made of plastic. The new note feature a portrait of Mr Turing, who conceived modern computing and played a crucial part in the Allied victory over Nazi Germany in World War Two.

The use of cash fell sharply during the coronavirus pandemic, as lockdowns reduced options for spending and online transactions increased.

However, cash still accounted for 17% of all payments in 2020, according to the latest available figures by banking trade body UK Finance, making it the second most-popular way to pay after debit cards. Figures for 2021 will be published this summer.

Newsletter

Related Articles

0:00
0:00
Close
U.S. Enacts Sweeping Tax and Spending Legislation Amid Trade Policy Shifts
Football Mourns as Diogo Jota and Brother André Silva Laid to Rest in Portugal
Elon Musk Founds a Party Following a Poll on X: "You Wanted It – You Got It!"
London Stock Exchange Faces Historic Low in Initial Public Offerings
A new online platform has emerged in the United Kingdom, specifically targeting Muslim men seeking virgin brides
Trump Celebrates Independence Day with B-2 Flyover and Signs Controversial Legislation
Boris Johnson Urges Conservatives to Ignore Farage
SNP Ordered to Update Single-Sex Space Guidance Within Days
Starmer Set to Reject Calls for Wealth Taxes
Stolen Century-Old Rolls-Royce Recovered After Hotel Theft
Macron Presses Starmer to Recognise Palestinian State
Labour Delayed Palestine Action Ban Over Riot Concerns
Swinney’s Tax Comments ‘Offensive to Scots’, Say Tories
High Street Retailers to Enforce Bans on Serial Shoplifters
Music Banned by Henry VIII to Be Performed After 500 Years
Steve Coogan Says Working Class Is Being ‘Ethnically Cleansed’
Home Office Admits Uncertainty Over Visa Overstayer Numbers
JD Vance Questions Mandelson Over Reform Party’s Rising Popularity
Macron to Receive Windsor Carriage Ride in Royal Gesture
Labour Accused of ‘Hammering’ Scots During First Year in Power
BBC Head of Music Stood Down Amid Bob Vylan Controversy
Corbyn Eyes Hard-Left Challenge to Starmer’s Leadership
London Tube Trains Suspended After Major Fire Erupts Nearby
Richard Kemp: I Felt Safer in Israel Under Attack Than in the UK
Cyclist Says Police Cited Human Rights Act for Riding No-Handed
China’s Central Bank Consults European Peers on Low-Rate Strategies
AI Raises Alarms Over Long-Term Job Security
Saudi Arabia Maintains Ties with Iran Despite Israel Conflict
Musk Battles to Protect Tesla Amid Trump Policy Threats
Air France-KLM Acquires Majority Stake in Scandinavian Airlines
UK Educators Sound Alarm on Declining Child Literacy
Shein Fined €40 Million in France Over Misleading Discounts
Brazil’s Lula Visits Kirchner During Argentina House Arrest
Trump Scores Legislative Win as House Passes Tax Reform Bill
Keir Starmer Faces Criticism After Rocky First Year in Power
DJI Launches Heavy-Duty Coaxial Quadcopter with 80 kg Lift Capacity
U.S. Senate Approves Major Legislation Dubbed the 'Big Beautiful Bill'
Largest Healthcare Fraud Takedown in U.S. History Announced by DOJ
Poland Implements Border Checks Amid Growing Migration Tensions
Political Dispute Escalates Between Trump and Musk
Emirates Airline Expands Market Share with New $20 Million Campaign
Amazon Reaches Milestone with Deployment of One Millionth Robot
US Senate Votes to Remove AI Regulation Moratorium from Domestic Policy Bill
Yulia Putintseva Calls for Spectator Ejection at Wimbledon Over Safety Concerns
Jury Deliberations in Diddy Trial Yield Partial Verdict in Serious Criminal Charges
House Oversight Committee Subpoenas Former Jill Biden Aide Amid Investigation into Alleged Concealment of President Biden's Cognitive Health
King Charles Plans Significant Role for Prince Harry in Coronation
Two Chinese Nationals Arrested for Espionage Activities Against U.S. Navy
Amazon Reaches Major Automation Milestone with Over One Million Robots
Extreme Heat Wave Sweeps Across Europe, Hitting Record Temperatures
×