Where Can I Change Old Banknotes: The deadline for exchanging old banknotes is September 30, so if you still have some, there are many places you can go to exchange them.
The Bank of England started using polymer notes in the UK six years ago. They also set a deadline for when paper notes can be exchanged, which is Friday, September 30, 2022.
Where Can I Change Old Banknotes?
With the deadline for old banknotes coming up in September, many people are wondering where they can exchange them. It turns out they have a lot of options:
Some Post Office locations, you may be able to deposit withdrawn cash into any bank account you can access through the Post Office.
Even after September 30, when the paper £20 and £50 stop being legal tender, you can still exchange some banknotes at some Post Office locations.
Find out HERE if your PO will take them. But £300 is the most you can get in exchange.
At your bank: If you have a bank account in the UK, you can put the old bills right into that account.
The Bank of England: You can still send or deliver old banknotes to The Bank of England after the deadline has passed.
Banknotes 30th September Exchange Deadline
The Bank of England started giving out the new polymer £5 note on September 13, 2016. It was the first note of this kind to be given out in England and Wales. Some people were against it because the polymer isn’t vegan-friendly because it’s made with tallow, which is made from beef or mutton fat. However, each note only has less than 0.05 percent of this product.
The next year, £10 polymer notes came out, and the Bank of England decided that the £20 polymer note would come out on February 20, 2020, which fits with all the “20s.” The Bank of England made a £50 polymer banknote on June 23. This finished the switch from paper to polymer notes for sterling.
The Bank of England also set a deadline for when old paper notes could be traded in for new ones. “We have made new £20 and £50 notes out of polymer,” the statement said. The last day you can buy things with our paper £20 and £50 notes is September 30, 2022.
“However, there is no need to worry because withdrawn notes can always be traded in at the Bank of England for new notes at any time after this date.”