27 June 2022

100 days to go to use or deposit paper £20 and £50 banknotes

There are now 100 days until the Bank of England withdraws legal tender status of paper £20 and £50 banknotes after 30 September 2022.

After this date, paper £20 and £50 banknotes will no longer be legal tender, so please ensure your businesses are still accepting these paper notes in transactions until then. We are encouraging members of the public who still have these notes to use or deposit them.

For more help and information, visit the Bank of England's official guidance page here.

Prepare your business

Here are some things for your business to consider ahead of 30th September 2022

  1. Clear out your safes: Start banking your paper £20s and £50s now. You may be charged more to deposit these after 30th September 2022.
  2. Update your machines: Ensure you know which cash handling machines are being operated by your business and check whether an adaption is required from your supplier to make sure they will no longer accept paper £20s and £50s after 30th September 2022. 
  3. Train your staff: Make staff aware of the paper £20 and £50 withdrawal date and the fact that these notes continue to be legal tender until 30th September 2022. The Bank of England A4 poster is available to download or order below. Make sure any employees handling cash stay trained on how to check paper £20 and £50 notes until the 30th September.
  4. Let your customers know: Download or order the free poster from the Bank of England to remind customers the last day they can use their paper notes.

Download in English

Download in Welsh

Scottish and Northern Ireland banknotes

Bank of Scotland, Clydesdale Bank and Royal Bank of Scotland will withdraw their paper £20 and £50 banknotes on the same date as the Bank of England – 30 September 2022.  Bank of Ireland, Danske Bank/Northern Bank Limited and Ulster Bank in Northern Ireland will also withdraw their paper £20 notes on the same date. 

Withdrawal of all First Trust Banknotes after 30 June 2022

AIB Group (UK) plc (previously trading as First Trust Bank in Northern Ireland) ceased issuance of banknotes on 30 June 2020.  Consequently AIB Group (UK) plc/First Trust Bank has advised that their banknotes should not be accepted for payment after midnight on 30 June 2022, but can continue to be deposited to bank accounts at a variety of institutions.

For more information about Scottish and Northern Ireland notes, please visit the Association of Commercial Banknote Issuers (ACBI)

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