Old paper 20 notes expired on 30 September 2022. 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! A new polymer 20 note featuring JM Turner will be issued in 2020 replacing the current paper notes. Customers of Lloyds Banking Group, which covers Bank of Scotland, Halifax, and Lloyds, can deposit old notes worth more than 20. If you have any questions about the content discussed in this article, please contact us here. We often link to other websites, but we can't be responsible for their content. But banks don't legally have to keep accepting old money, so it's worth checking with yours before you head to a branch. Scotland prints its own bank notes, so although the money is worth the same amount, the notes look quite different. Get our money-saving tips and top offers direct to your inbox with the Mirror Money newsletter. UK home sellers cut 14,000 off their asking prices as the buyers market returns. 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. Youll also need to fill in a postal exchange form and send photocopies of your proof of ID and proof of address. There is currently no time limit when it comes to exchanging your old banknotes at the Bank of England. 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. Please enter a search term. . Old pound coins are no longer legal tender. The further back you go in date, the more youre likely to fetch. Press Spacebar or Enter to select, This page was last updated 17 January 2023. 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. "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.". The Bank of England's newly-designed Alan Turing 50 bank note enters circulation today. 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. You can also visit the bank in person to make an exchange at its bank counter in London. Cats, cheese and travel areSues passions away from her desk! Banks and building societies happy to exchange the old notesinclude Halifax, Lloyds, Nationwide, Barclays and HSBC - though keep in mind they may have a cut-off date. We use necessary cookies to make our site work (for example, to manage your session). more, You seem to have JavaScript disabled. 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. The counter is open from Monday to Friday: 9:00am - 4:00pm, excluding Bank Holidays. 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. It must also be accompanied with a covering letter and a copy of photo ID and proof of address. 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. There are three types of banknotes in the UK: Scottish banknotes. The Bank of England counter is open from 9.30am 3pm from Monday to Friday. Customers of Lloyds Banking Group, which covers Bank of Scotland, Halifax, and Lloyds, can deposit old notes worth more than 20. Taking your old currency to your bank is a good way to quickly get it exchanged without having to worry about posting it. This means you cant use them in shops or as payment any more. This is the version of our website addressed to speakers of English in the United States. Never had any problems spending Scottish banknotes south of the boarder. 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. No time limit on when this will end. 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 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). This service is provided on News Group Newspapers' Limited's Standard Terms and Conditions in accordance with our Privacy & Cookie Policy. 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. Visit our corporate site. It is closed at the weekend and on bank holidays. Are housebuilder stocks looking cheap for dividend yields? Can Bank of Scotland use Halifax? I have certainly done Bank of Scotland business at Halifax branches and never had a problem. Unique serial numbers are the easiest to find with collectors particularly favouring lower serial numbers or those with sequences such as 888888. The transition from paper notes to polymer notes is part of increased security measures. Its unlikely that Scotland will go its own way after September but even if they do it will take a few months for the economies to go separate ways. BA1 1UA. When presenting notes at the counter youll also be asked for one form of photo ID. Nothing searched for. "But these new figures show that's far from the case in fact, a massive amount of cash is still out there. There's more information on exchanging notes here . This works out at 242 million individual 20 notes and 106 million paper 50 notes. Cash of less than 20 will be exchanged for polymer notes. 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. Scottish notes aren't legal tender in England or Scotland. That phrase "I promise to pay the bearer on demand" is something that doesn't have a time limit on it, the Bank told Mirror Money. The new plastic version of the 50 bank note is part of the Bank of England's process to replace all paper notes. If youre looking to exchange coins in particular for their equivalent pound value, this is likely to be your best shot. We look at Taylor Wimpey, Persimmon and Barratt Developments. By clicking Accept recommended settings on this banner, you accept our use of optional cookies. Due to the sheer volume of questions we get about old coins and banknotes and what you should do with them, weve included an FAQ section to answer some of the most common ones. This means that cafes, bars, shops and restaurants will no longer accept the paper 20 note. The Scottish banks issue notes in denominations of 5, 10, 20, 50 and 100. 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. 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 Post Office will deposit old Scottish paper notes into your bank account, which you can then withdraw. This means that, if one of the banks failed, the backing assets could be used to reimburse everyone who has one of its banknotes. "The Sun", "Sun", "Sun Online" are registered trademarks or trade names of News Group Newspapers Limited. 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 :). Issued in February 2020, the new 20 note features British Romantic painter, JMW Turner. 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 . Always remember anyone can post on the MSE forums, so it can be very different from our opinion. Do Santander accept Scottish notes? If you're looking to exchange coins in particular for their equivalent pound value, this is likely to be your best shot. This means that we may include adverts from us and third parties based on our knowledge of you. In fact, Judy Murray, mum of tennis legend Andy, tweeted about her hard time with the notes in London last year. But as of October 2022, shops will no longer accept paper notes. The reason for this is purely because Scottish notes are rarely seen in some areas of England, meaning the person receiving the note is unsure of its validity. You may need an ID when exchanging notes. There are plenty of options if you happen to come across old banknotes and coins and you should be able to get rid of them without a problem. Many charities specifically mention that they accept old currency and are more than grateful to receive any donations. To use our mobile site, please enable JavaScript. Anything more than this and they will deposit the money into a chosen bank account. Not only was Turing a computer pioneer, he broke the Enigma code during World War II, aiding British and Allied forces in claiming victory. The polymer 5 note, meanwhile, was issued in September 2016 and . Bath Finally, the new 10 note which was issued in September 2017 now has Jane Austen on it. Evaluate Your Coin with Confidence! Thanks! How to exchange old bank notes at the Bank of England, How to exchange old bank notes at the Post Office. Wed also like to use some non-essential cookies (including third-party cookies) to help us improve the site. Unfortunately, the Bank of England does not accept old coins and so these must be exchanged another way. 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. You can find full details on the Bank of England website here. 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. Businesses and shops will no longer be obliged to accept. If your bank doesn't accept old notes or you can't access it via a post office, don't worry. We look at what to do with old 20 and 50 paper notes and where to exchange them for new polymer versions. Some folks will tell you that they'll accept Scottish notes but do you really want to take that chance? 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. Scotland uses the Pound Sterling, which is the currency used throughout the United Kingdom. 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. We have the power to fine the banks if they do not comply with the regimes rules and conditions. 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. This is regardless of whether you are a customer or not. But the Bank has warned of long queues and waiting times and has said: if you arrive after midday it is possible we will have reached capacity and you may not get served before we close. Halifax 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. Even though you cant spend these old paper notes, its worth checking old bags, wallets and even the kids money boxes as you can still exchange old 20 and 50 notes. Forum Member. Demand for this commodity jumped in 2020, sending prices skyward. Non customers can exchange 20 and 50 paper notes for polymer versions - up to a value of 250. . 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. 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. Just had a call from a colleague asking if we can accept a 100 Scottish note. I tried to pay in a NatWest cheque using the Halifax app and it failed. so do note you use the information at your own risk and we can't accept liability if things go wrong. Subscribe to MoneyWeek now and get your first six magazine issues absolutely FREE, Elizabeth Fry 5 note ceased to be legal tender on 5 May 2017, Adam Smith 20 note ceased to be legal tender on 30 September 2022, Charles Darwin 10 note ceased to be legal tender on 1 March 2018, Boulton & Watt 50 note ceased to be legal tender on 30 September 2022. 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. In person: If you can and want to, you can swap your old notes at The Bank of England Counter, in Threadneedle Street, London. For claims of 700 or more, you may need to provide additional proof of ID and address. The new 10 note - everything you need to know, Iceland says you're fine for another month, You've never seen a tenner used quite like this. 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). It also says you can send notes to it by post, but at your own risk. There are currently 959 million, or 9,596 million worth, of the new polymer 10 notes in . 1.5K Posts. They are also harder to counterfeit, helping the central Bank lock down on fraud. This agreement also extends to the old round pounds that were officially demonetised in 2017. We use the Halifax/BOS. As always you can unsubscribe at any time. 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. It's up to them. Take sterling and you won't have to worry. Martin Kearsley, banking services director at the Post Office - which has 11,600 branches across the UK, has said: "Thanks to an agreement with all UK high street banks, everyone can deposit cash and cheques, including any old notes, into their usual high street bank account at their local Post Office branch.". 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. Paper 10 notes were withdrawn as a legal tender in March 2018 and paper 5 notes were scrapped way back in May 2017. We also understand that the Post Office accepts withdrawn notes as payment for goods and services. 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. Alternatively, you may use. The Money Edit is part of Future plc, an international media group and leading digital publisher. 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. Whilst out and about, keep an eye out for charity collection boxes in particular. There is no time limit. The Bank of England suggests that unless you need to swap your notes urgently you consider sending them in by post (opens in new tab). *At Bank of Scotland we are proud to offer our customers mortgages provided by the Halifax. To see all content on The Sun, please use the Site Map. Virgin Money says Old notes can be exchanged in any Virgin Money store up to the value of 250. 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. Flat fees vs percentage fees - are you paying too much for your investments? This means you will always be able to exchange your banknotes with them for their equivalent value in pounds. Cash of less than 20 will be exchanged for polymer notes.. In 2017 of News Group Newspapers Limited be accompanied with a covering letter and a copy of ID. 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