October 18, 2021

The Bank of England issued a warning on £ 20 and £ 50 notes.

People are still using paper £ 20 notes. They are being warned that they will not be able to buy goods with their own money soon.

In one year, legal status will be withdrawn from paper £ 20 and £ 50 notes.

The new Polymer £ 20, featuring JMW Turner and £ 50 Allen Turing, will be the only form accepted by retailers.

Despite the recent issuance of new polymer notes, there are still about £ 9 billion old £ 20 notes in circulation.

Old paper, meanwhile, still makes 15 50 billion in circulation.

The Bank of England has set a deadline of September 30, 2022, when old paper notes will expire.

After the deadline, people with a UK bank account will still be able to deposit paper notes into their account, while the Bank of England will still exchange all paper notes.

Statement from the Bank of England.

Sarah John, chief cashier of the Bank of England, said: “In recent years we have been converting our banknotes from paper to polymer because it makes them more difficult to counterfeit, and this means they are more durable. ۔

“Polymer £ 20 featuring artist JMW Turner, and polymer £ 50 featuring scientist Alan Turing are now widely circulating, and we’re in the process of withdrawing their paper equations.”

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