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Many banks accept withdrawn notes as customer deposits. Swiss Post can also accept withdrawn banknotes as a deposit to any bank account that you can access at the post office. And you can exchange withdrawn tickets with us at any time. However, the old paper notes of 20 and 50 pounds will no longer be considered legal tender as of October 1, 2022, which means that they can no longer be used in shops, cafes, restaurants or elsewhere. Download our free training material to check your banknotes. So far this month, more than £100 million has been deposited at Swiss Post offices. Martin Kearsley, Director of Post Bank, said: «We are fully aware that people are living busy lives and that some may postpone the deposit of their £20 and £50 notes until the last moment. Peter Sands, an adviser to the UK government and former chief executive of Standard Chartered, raised concerns with the Bank of England about high-face banknotes and their role in tax evasion. He claimed that the removal of £50 notes and other high-value notes such as CHF 1,000, €500 and €100 would reduce financial crime. [13] [14] To mail them, fill out an exchange form and send it along with banknotes and photocopies of your ID card and proof of address.

Once the deadline of 30 September 2022 has passed, you will no longer be able to use Bank of England paper notes in stores or use them to pay businesses. (The following central post offices in London will exchange UK banknotes: Golders Green, High Holborn, Moorgate, City of London and Regent Street St. James) Cashiers at the Bank of England`s central branch on Threadneedle Street in London like to replace old £50 notes. The Bank of England can deposit the money into a bank account, by cheque or (if you live in the UK and the amount is worth less than £50) in new banknotes. The Bank of England will still exchange all withdrawn notes, including paper notes that we have withdrawn in the past. If you have paper notes of 20 or 50 pounds, we recommend that you use them before September 30, 2022 or deposit them with your bank or post office. This will officially be the last day you can use your old £50 tickets in shops, pubs and restaurants. Although the old £50 notes officially expire at the end of September, you can exchange your paper notes for a new polymer note after that date. «The post office can also accept withdrawn tickets as payment for goods and services or as a deposit into any bank account you can access with them,» says the Bank of England. So what can you do with those old £20 and £50 bills? We will revoke the status of our £20 and £50 banknotes after 30 September 2022.

The Bank of England has moved these two notes from paper to polymer during the period 2020-2021, not only with a new design, but also with a number of high-security features to defeat counterfeiters. The new £50 note is the last British currency to be printed on polymer. The Bank of England turned to this material because it «makes counterfeiting more difficult than paper notes». Damn your pockets, purses and the back of your couch for your old £20 bills. Swiss Post is preparing for a rush of «last-minute» customers dropping off £20 and £50 paper notes this week before they can no longer be used in stores or to pay businesses. Both paper and 50-pound polymer banknotes are in circulation and are currently considered legal tender. But you need to make sure you spend your £50 paper ticket now before the expiry date. This expiry date also applies to the old £20 banknotes that were replaced by the new polymer note in 2020. However, the Bank of England warns that people should be «aware that banknotes are sent at their own risk» and encourages people to «take appropriate measures to insure themselves against loss or theft».

Tomorrow, these paper tickets will no longer be legal tender and will no longer be accepted in stores. You can also exchange your old £20 and £50 notes for new fresh notes at the Bank of England itself: visit the Bank of England counter on Threadneedle Street, London, which is open Monday to Friday from 9.30am to 3pm. In March, the Bank of England`s Chief Treasurer, Sarah John, said: «In recent years we have moved our banknotes from paper to polymer because these designs are harder to counterfeit and at the same time more durable.» The Bank of England said: «Banknotes are resistant to dirt and moisture and therefore stay in better condition longer. These notes also have touch functions that allow blind and visually impaired people to use them. After Friday, people will still be able to drop off paper notes at their post office, and many UK banks will also accept banknotes as deposits from customers. Friday is the last day that the Old-fashioned Bank of England banknotes will become legal tender after being replaced by polymer versions When will the old £50 notes expire? This is the question most people ask themselves with paper notes in their wallets, as the new £50 polymer has been circulating for some time. When the paper notes are returned to the Bank of England, they will be replaced by the new £20 polymer notes with JMW Turner and the £50 polymer notes with Alan Turing. After September 30, only our polymer bonds will be legal tender.

£50 notes were first introduced by the Bank of England in 1725. The first notes were handwritten and given to individuals as needed. These notes were written on a single page and bore the name of the beneficiary, the date and the signature of the issuing cash register. With the exception of the period of restriction between 1797 and 1821, when the French Revolutionary Wars and the Napoleonic Wars caused a shortage of gold, these notes could be exchanged in whole or in part for an equivalent amount of gold when presented to the bank. In case of partial refund, the ticket is signed to indicate the amount refunded. From 1853, the printed scores replaced the handwritten notes, the statement «I promise to pay the carrier the sum of fifty pounds on request» replacing the name of the beneficiary. This statement still appears today on bank notes of the Bank of England. On the printed notes appeared a printed signature of one of the three cashiers, but from 1870 it was replaced by the signature of the chief cashier. [4] September 30, 2022 is the last day you can use our £20 and £50 paper tickets. The new £50 Series G note was put into circulation in June 2021; It is the last Bank of England banknote to be converted from paper to polymer. The back of the note features a portrait of mathematician and codebreaker Alan Turing. [2] Before Turing was selected, the bank looked for proposals for suitable scientists.

Approximately 227,299 applications for 989 scientists were received, and the shortlist ultimately included (in individuals and pairs) Mary Anning, Paul Dirac, Rosalind Franklin, William Herschel and Caroline Herschel, Dorothy Hodgkin, Ada Lovelace and Charles Babbage, Stephen Hawking, James Clerk Maxwell, Srinivasa Ramanujan, Ernest Rutherford, Frederick Sanger and Turing. [2] [10] [11] [12] To redeem old notes after the deadline, you can mail them to the Bank of England.