Deadline To Use £20 And £50 Notes Before They Expire Confirmed

The paper £20 and £50 notes are following the same route as the £10 and £5 ones, which have been replaced by plastic alternatives in a process that's been going on since 2015.

The new versions are made out of polymer plastic which are said to be more difficult to counterfeit, more environmentally friendly and last double the time of their paper predecessors.

These notes also have tactile features that allow the blind and partially sighted to use them.

Oh, and they're able to withstand a cycle in the washing machine, which I think we can all agree is a great advantage.

After 30 September 2022, you'll no longer be able to spend these paper notes anywhere, meaning this is the last Christmas you'll get to use them.

While it's probably a good idea to get rid of them soon, don't fret too much, as you can trade old bills at any bank and most Post Offices.

Although be warned that the BoE has said you're responsible for any loss or damage, so it would be wise to get the envelope tracked and signed for.

You'll also need to have a UK bank account to be able to trade them in after the deadline.

The new polymer plastic £20 bill, which features the artist J.M.W. Turner, has been in circulation since February 2020, while the £50 one featuring Alan Turing went into circulation in June 2021.

This figure was no doubt bolstered by the fact that the COVID-19 crisis has made it difficult to spend cash as most places have urged contactless/card payments to reduce the level of contact.

But as said, you've still got plenty of time before the deadline to spend your paper bills and even if you don't manage it you can exchange them.

Words: Daisy Phillipson