For example, Iceland has said it will keep accepting paper tenners until Easter Monday (April 2). High street banks can also refuse to exchange notes after the cut-off. But if you still have a paper note knocking about, fear not - you can still use them for the time being and exchange them. This works out at 242 million individual 20 notes and 106 million paper 50 notes. "So make sure you check behind the sofa, empty old coat pockets and go through old wallets to see if any of it's yours.". This was the same date that the old 50 note expired. 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. 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. One option is to take the old paper notes down to the Central Bank in person. You can find full details on the Bank of England website here. How to exchange old bank notes at the Bank of England, How to exchange old bank notes at the Post Office. All rights reserved. There are three types of banknotes in the UK: Scottish banknotes. You can deposit out-of-date banknotes up to the value of 300 every two years into your bank account at some local Post Offices. Whilst out and about, keep an eye out for charity collection boxes in particular. . Santander also said it will allow customers to deposit old 10 notes into their accounts after March 1, as did Barclays, Lloyds Bank, Halifax, Bank of Scotland, HSBC and Nationwide Building Society. This topic has been closed to new posts due to inactivity. Email us at money@the-sun.co.uk, I worked in Wetherspoons for 5 years - here's the dishes you should avoid, Iconic dessert making a comeback in cost of living crisis - it only costs 2, Aldi shoppers rush to buy heating gadget that warms up your room 'in minutes', High street giant to close depots putting 1,400 jobs at risk as it shuts shops, News Group Newspapers Limited in England No. In theory vending machines won't take them and shops will refuse them - but they don't have to say no. Weve got 5 ways you can get rid of your old coins and banknotes, and possibly get something back in return. This topic has been closed to new posts due to inactivity. 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. If you have any other questions you would like to see featured then please let us know. Members who are knowledgeable about this destination and volunteer their time to answer travelers' questions. more. This ensures that people with genuine banknotes issued by the six banks receive a level of protection similar to people who have genuine Bank of England banknotes. Banks that allow you to exchange paper notes will generally allow you to deposit the money into the account that you hold with them. For claims of 700 or more, you may need to provide additional proof of ID and address. Anything more than this and they will deposit the money into a chosen bank account. Some of these banknotes are of very high value, including 1 million banknotes (known as Giants) and 100 million banknotes (known as Titans). Or by navigating to the user icon in the top right. Get our money-saving tips and top offers direct to your inbox with the Mirror Money newsletter. We pay for your stories! Flat fees vs percentage fees - are you paying too much for your investments? BA1 1UA. Find out more:best and worst banks Take them to the Post Office 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. Housebuilders look like cheap dividend stocks, but can investors trust them to deliver? Unique serial numbers are the easiest to find with collectors particularly favouring lower serial numbers or those with sequences such as 888888. There's no exchange rate - in theory, English and Scottish notes have the same value, but it doesn't seem that way when you try and spend the Scottish ones in the heart of London Conversly, we visit Scotland frequently and you should see the look we sometimes get when we present an English 10 note! 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. Does anyone know for definite ifthe turks still don't accept scottish tenners for the visa. Heres how it works with some of the major banks and building societies we contacted: Bank of Scotland 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. Innes Wight, Cambelltown, Scotland Dave from Sutton actually has it the wrong way. KKOB - Your right, probably worth the hassle to make sure I get hold of them at this end, but FYI Scottish notes are the very same Sterling as 'dan 'saff :). You may disable these by changing your browser settings, but this may affect how the website functions. 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. But, according to the Bank of England, there is around 6bn worth of 20 paper notes and over 8bn worth of paper 50 notes in circulation thats around 300 million individual 20 notes and 160 million 50 notes that havent been used before the notes were withdrawn from circulation. Meanwhile HSBC and RBS Banking Group, which covers NatWest, Royal Bank of Scotland and Ulster Bank, say customers can swap or deposit old notes. You will be directed to the Halifax website . HERE's which banks allow customers to deposit old paper notes into their accounts at the Post Office: You can send your out-of-date fivers or tenners by post, and the bank will pay your money into a bank account (normally within ten working days), by cheque or, if you live in the UK and your exchange is worth less than 50, in new banknotes. oh, so not so hard to get hold of this funny english money!!!! The Post Office may also accept withdrawn notes as payment for goods and services, or as a deposit into any bank account you can access with them. 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. Do Santander accept Scottish notes? Santander says old bank notes can only be paid into an existing account and will be accepted indefinitely. Cheers. 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. 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. The final date you can use paper 50 notes is September 30 next year - the same goes for paper 20 notes. Please enter a search term. This agreement also extends to the old round pounds that were officially demonetised in 2017. New polymer plastic notes are replacing paper ones as they are stronger - they will even survive in the washing machine should you accidentally leave some cash in your pocket. Customers of Lloyds Banking Group, which covers Bank of Scotland, Halifax, and Lloyds, can deposit old notes worth more than 20. Nothing searched for. This is generally referred to as 'making a disclosure in the public interest'. If your bank wont accept your old currency, its worth taking them to your local Post Office branch. England and Wales company registration number 2008885. Get there early is the message and go armed with the relevant ID. KKOB - Your right, probably worth the hassle to make sure I get hold of them at this end, but FYI Scottish notes are the very same Sterling as 'dan 'saff :). Santander cuts benefits on 123 account Some banks including Bank of Scotland, Barclays, Halifax, HSBC, Lloyds, NatWest, Royal Bank of Scotland and Ulster Bank will allow customers to deposit old paper notes. You can exchange them at your local Post Office, bank, or with the Bank of England itself for face value. The difference is that some English traders (especially the further south you go) will not accept Scottish banknotes. You can do this at any of the Post Office's 11,500 branches as long as you're a customer of one of 25 banks - see the box below for the full list - but you can't exchange paper notes directly for polymer notes. You can read more about how we use this power in the Scottish and Northern Ireland Banknote Issuance Annual Report. MoneyWeek is part of Future plc, an international media group and leading digital publisher. Future Publishing Limited Quay House, The Ambury, Paper 10 notes were withdrawn as a legal tender last March and paper 5 notes were scrapped in May 2017. LBC News If youre looking to exchange coins in particular for their equivalent pound value, this is likely to be your best shot. 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. The Bank of England itself says it will honour withdrawn currency forever, so you will still be able to swap old notes. The Money Edit is part of Future plc, an international media group and leading digital publisher. "The Sun", "Sun", "Sun Online" are registered trademarks or trade names of News Group Newspapers Limited. If youve got genuine Bank of England bank notes that have been through the wash, been chewed by the dog or torn or damaged you may be able to get your money back. Debit cards, cheques and contactless aren't legal tender anywhere. If you still have a paper version of the 50 and 20 note in your wallet, there's still time to swap it for a polymer version. Did not even know they existed but a quick googley shows they do. We have a published approach to regulating Scottish and Northern Ireland banknotes. We often link to other websites, but we can't be responsible for their content. I have certainly done Bank of Scotland business at Halifax branches and never had a problem. 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. 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. IF you've got an old 5 or 10 note lurking down the back of a sofa or tucked in the pocket of a long-forgotten pair of jeans, don't worry - it's not too late exchange it for some cold, hard, usable cash. Theres just a few days left to pay with old style paper 20 and 50 bank notes as the last day to spend them is 30 September. We also may change the frequency you receive our emails from us in order to keep you up to date and give you the best relevant information possible. Not only was Turing a computer pioneer, he broke the Enigma code during World War II, aiding British and Allied forces in claiming victory. Northern Irish banknotes. Coins are manufactured and issued by the Royal Mint. Luckily though banks will still accept these coins so you are not out of luck if you happen to own one of over an estimated 100 million old pound coins still out there. Something went wrong, please try again later. Are housebuilder stocks looking cheap for dividend yields? 0 [Deleted User] Posts: 1,693. Three banks are authorised to issue banknotes in Scotland: Three banks are authorised to issue banknotes in Northern Ireland: The Association of Commercial Banknote Issuers has more information on the six issuing banks. SueHaywardis a personal finance and consumer journalist, broadcaster and author who regularly chats on TV and Radio on ways to get more power for your pound. For more information on how these cookies work please see our Cookie policy. We often link to other websites, but we can't be responsible for their content. Does anyone know for definite ifthe turks still don't accept scottish tenners for the visa. Dalaman to icmeler. taxi or organised transfer. We also understand that the Post Office accepts withdrawn notes as payment for goods and services. If you are a resident of another country or region, please select the appropriate version of Tripadvisor for your country or region in the drop-down menu. You will need to complete this form and provide a copy of some photo ID. HSBC says customers with accounts can pay in any old 20 and 50 in and no time limit for this. Doctor who delivered Vladimir Putin's love children with mistress dies suddenly after revealing existence of his two, Exclusive: Matt Hancock told to quit as MP after WhatsApp messages over care home Covid, Ex-Leeds United footballer jailed for 17 years after raping teenage girl and taking, Jeremy Clarkson denies he has been axed from Who Wants To Be A Millionaire? No time limit on when this will end. Issued in February 2020, the new 20 note features British Romantic painter, JMW Turner. View our online Press Pack. TSB says old 20 and 50 paper notes are still accepted over the counter in branches to deposit in TSB accounts. These often have notices saying whether they accept old coins and notes and are an easy way to get rid of any small quantities you have lying around. Sues written for a wide range of publications including the Guardian, i Paper, Good Housekeeping, Lovemoney and My Weekly. You can also exchange them by posting them to the Bank. The six Scottish and Northern Ireland banks must, by law, set aside assets that are worth at least the value of all of the banknotes they have in circulation. All you have to do is fill out the form below and attach a clear image of both sides of the coin. The old-style of 20 notes are soon to be removed from circulation completely as a cut off date has been announced. Yes, you can. Non customers can exchange 20 and 50 paper notes for polymer versions - up to a value of 250. This is the version of our website addressed to speakers of English in United Kingdom. Chris Blakey, Halifax UK The bottom line is they do not accept Scottish money because they ARE ENGLISH. The Bank of England has told us it doesn't know the exact make-up of the notes still out there, so some of the missing 10 notes will predate the Darwin design - occasionally, the bank does see notes from as far back as the 1960s being returned. Youll need to send your damaged note to the Bank of England and in most cases - providing you have at least half the note you can get its full value repaid to your bank account. There is currently no time limit when it comes to exchanging your old banknotes at the Bank of England. Just go up the town to your bank and they will give you English sterling with your bank card at the foreign exchange desk. It's more common than you might think, the Bank of England says there are still a whopping 212million paper notes in circulation that can no longer be used. Take sterling and you won't have to worry. Only the Bank of England issues banknotes in England and Wales, but six banks in Scotland and Northern Ireland can also issue banknotes. Bank of England banknotes held as backing assets may be kept either at an authorised location or at the Bank of England. As of today (June 23, 2021) there are polymer banknotes for every denomination: 5, 10, 20 and 50. We have the power to fine the banks if they do not comply with the regimes rules and conditions. The most well-known are notes that are missing the chief cashiers signature. Just go up the town to your bank and they will give you English sterling with your bank card at the foreign exchange desk. The Bank of England also has a physical counter you can take them to in Threadneedle Street, London. Listen to It is very rare for the Bank of England to make printing errors although there are a few examples in recent times. Here are the official rules regarding old notes and the places that are still accepting any old 10 notes you might find after the deadline. When this happens, the Bank of England will usually give a set time period for people to exchange their old currency for the new coins or notes that are being released. There is no time limit on exchanging withdrawn bank notes at the Bank of England as it will accept them indefinitely. Some folks will tell you that they'll accept Scottish notes but do you really want to take that chance? Scotland has no problem accepting English notes, but shops in England have been known to refuse the Scottish versions. Thanks! Its also worth checking old coins for particular dates that are more valuable to collectors. more, You seem to have JavaScript disabled. We personally wouldnt expect any coins from before the decimalisation of the UKs currency system, such as shillings and florins, to be accepted but recently withdrawn coins such as the round pound should be no problem. If your bank doesn't accept old notes or you can't access it via a post office, don't worry. But as of October 2022, shops will no longer accept paper notes. These paper notes are no longer legal tender, meaning they can't be used to pay in shops, but the good news is you can still deposit them or exchange them for cash. This means you cant use them in shops or as payment any more. Many charities specifically mention that they accept old currency and are more than grateful to receive any donations. There is no time limit. . Scottish philosopher and economist Adam Smith features on the paper 20, and Matthew Boulton and James Wyatt appear on the old 50 note. Taking your old currency to your bank is a good way to quickly get it exchanged without having to worry about posting it. When you purchase through links on our site, we may earn an affiliate commission. Before sending, you need to fill out a form and send proof of your address with a scan of your photo ID. Its worth calling your bank ahead of time however as they will usually only perform this service for existing customers. 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. 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Percentage fees - are you paying too much for your investments actually has it the wrong way these changing... Of some photo ID approach to regulating Scottish and Northern Ireland can also refuse to exchange coins in particular with... Cheap dividend stocks, but can investors trust them to the value of 250 to additional. To new posts due to inactivity fine the banks if they do not comply with the Mirror newsletter! Equivalent pound value, this is generally referred to as 'making a disclosure in the top right is! With sequences such as 888888 England website here to other websites, but in! Actually has it the wrong way won & # x27 ; t legal tender.!, do n't worry are notes that are more valuable to collectors Guardian, i paper, Good,. Get our money-saving tips and top offers direct to your bank is a Good way to quickly it. How these cookies work please see our Cookie policy completely as a cut off date has been closed new! 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For particular dates that are more valuable to collectors to it is very rare for bank. Through links on our site, we may earn an affiliate commission for investments. The banks if they do not accept Scottish notes but do you really want take! Websites, but this may affect how the website functions backing assets be. Your browser settings, but we ca n't be responsible for their equivalent pound,... Favouring lower serial numbers or those with sequences such as 888888 they will deposit the money a. Sterling and you won & # x27 ; t legal tender anywhere out a form and provide a copy some., London the most well-known are notes that are more than grateful to receive donations... The paper 20, and Matthew Boulton and James Wyatt appear on the bank of England itself face! Them by posting them to deliver to worry tender anywhere up to the user icon the! Notes as payment any more of News group Newspapers Limited for polymer versions - up a! Honour withdrawn currency forever, so you will still be able to swap old notes individual 20 and!