Ten days left to use old paper notes

Share

After the deadline, people can exchange old paper notes by posting them or delivering them in person to the BoE in central London.

The deadline is fast approaching when the Charles Darwin embossed notes are pulled and the newer embossed Jane Austen notes fully take over.

According to the BoE's latest figures, around 27 per cent, or 218 million, of the £10 notes in circulation are old paper ones.

Yes, you won't be able to use the notes in shops, restaurants and other businesses from them. They don't, however, expect all of the old notes to be returned as many have ended up overseas, damaged or kept as memorabilia.

Save money FAST Tips to help you pay off debt    
    Find out the most simple ways to save money in everyday life
Save money FAST Tips to help you pay off debt Find out the most simple ways to save money in everyday life

As reported by The Morning Advertiser, pubs were given a range of "simple steps" to verify the new notes' security features when they entered circulation.

You will also need to be an account holder with the bank to exchange your cash.

Brits have got just days to spend or exchange their paper notes, and the Bank of England says current returns are averaging at a value of £85million.

A high street bank may choose not to exchange the notes after the cut-off date, but The Bank of England has an obligation to. Bank of England Governor Mark Carney said in October that there were no plans to make a new £50 note.

Trump shows support for arming teachers to prevent school shootings
Nikolas Cruz opened fire at Marjory Stoneman Douglas High School on Valentine's Day, killing 17 people. "It stops here. Donald Trump appears to have backtracked on his suggestion that teachers should have guns to prevent mass shootings .

Share