The paper £5 note will be withdrawn on 5 May 2017
Paper £5 notes, featuring Elizabeth Fry on the reverse, will be withdrawn from circulation on 5 May 2017. They can be used normally until then. Some retailers, banks and building societies may choose to accept paper £5 notes after the withdrawal date, however this is at the
discretion of the individual institution. The Bank of England will always exchange its old-series notes.
Frequently Asked Questions:
Which £5 note is being withdrawn?
The Bank of England is withdrawing the paper £5 note which features a portrait of Elizabeth Fry on the reverse. This has been replaced with a polymer £5 note, featuring Sir Winston Churchill.
Why is the paper £5 note being withdrawn?
The Bank of England regularly reviews and updates its notes in order to take advantage of advances in banknote design and security features. The Fry paper £5 note was first introduced into circulation in 2002.
Is there a new-style £5 note?
Yes, there is a new polymer £5 note. It features Sir Winston Churchill on the reverse and was first introduced into circulation on 13 September 2016.
What happens if I still have a paper £5 note after the withdrawal date?
Some retailers, banks and building societies may still accept these notes, however this is at their own discretion. The Bank of England will always exchange its old-series notes. Notes may be presented for payment either in person or sent by post (at the sender’s risk) to: Dept NEX, Bank of England, Threadneedle Street, London EC2R 8AH.
Will I need to provide identification in order to exchange paper £5 notes?
To comply with anti-money laundering regulations, if you are exchanging large values you may be required to provide identification (such as a passport, drivers licence, national identity card etc) when exchanging your notes. You should check exact requirements with individual institutions.
More information about the withdrawal of the paper £5 note can be found on the Bank of England website:
For further information telephone 020 7601 4878