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So what can you do with these old coins and notes? The polymer £5 banknote was first issued by the Bank of England in September 2016. No. You will still be able to use the paper £20 note until we withdraw it from circulation. Shops stopped accepting old paper £10 notes a year ago and old paper £5 notes back in May 2017. You can exchange old Bank of England £5, £10, £20 and £50 notes which have been withdrawn from circulation in person or by post. spend and save them). Threadneedle Street The Bank’s Data Protection Officer can be contacted via the details above and you can also find out more about how the Bank deals with your personal data on our privacy page. New $5, $10, $20, $50 and $100 banknotes are now in circulation. Customers can still exchange old coins and notes. A copy of photo ID and proof of address for the person signing the covering letter. But old bank notes retain their value for all time, so while you can no longer spend them on the high street, you can return them to the Bank of England, or most major banks if you're a customer, and get a new polymer banknote in exchange. Your data will be stored for a period that the Bank considers appropriate to support the prevention of crime and to enable its compliance with relevant laws. When making payments, the Bank may provide personal data to financial institutions and payment systems involved. Proof of identification, a utilities statement in your name and further background information may be required for higher value exchanges. If you are bringing €10,000 (or sterling equivalent) or more in banknotes into the UK from any non-EU country, these must be declared on entry to the UK. What to do if you have old £5 or £10 notes How to Change Old £5 and £10 Notes. Bank of England In complying with applicable laws and for law enforcement purposes, we may also disclose data to any government entity, regulatory authority or to any other person the Bank reasonably considers necessary. If the value is £1,000 or more and it belongs to someone else, as well as your ID the Bank of England will also require: An original signed letter of authority from the owner, naming you and stating how they would like to be paid and a copy of the owner’s photo ID and proof of address. For more information please contact us by email at exchanges@bankofengland.co.uk or telephone 0203 461 5994 (Monday to Friday from 9am to 4pm). The $25 and $500 bills are some of the rarest ever produced in Canada. When do the old £20 notes expire? Do you have a story for The Sun Online news team? Even though the new polymer £20 are also now available and can be withdrawn from cash machines, the old, paper £20 notes can still be used alongside the new ones for the time being. A line on its website reads: “Don’t worry, you can still use the paper £20 note for now.” And there won’t be a rush to get out and hand your notes over to a shopkeeper any time soon. The £20s will change in 2020. It's been almost a year since paper fivers were pulled from circulations and replaced with polymer notes - but what do you do if you still have the old notes? The paper £5 and £10 notes are long out of circulation, having been replaced by polymer versions in the past few years. But, from midnight on 1 March 2018, these old paper notes will stop being legal tender. We do not send banknotes overseas. The last time to use them was October last year. However, we exchange these withdrawn Bank of England Pound Sterling banknotes free of charge. Please complete a postal exchange form for individuals or businesses (available below). Both the old £10 note and the old £5 note are no longer in circulation, but if you still have some, there are a number of options. In theory vending machines won't take the and shops refuse them - but they don't have to say no. The Bank of England is located at Threadneedle Street in London, EC2R 8AH. The Bank will not, however, disclose personal data to third parties for marketing purposes. Be aware the banknotes are sent at your own risk. For more information on how these cookies work please see our Cookie policy. We pay for videos too. Some banks may allow you … As of today, retailers and banks no longer have to accept them as legal tender. You can always exchange withdrawn notes with us by post. At this time there may be a delay in processing your exchange. 500 notes. The Sun website is regulated by the Independent Press Standards Organisation (IPSO), Our journalists strive for accuracy but on occasion we make mistakes. Redeeming Old Banknotes. If the money belongs to someone else and you are exchanging banknotes worth £999 or less, you need to provide the Bank of England with an original signed letter of authority from the owner, naming you and stating how they would like to be paid. On 20 February 2020 we issued a new polymer £20 note. All bank notes issued by the Bank of England retain their face value forever. We’d also like to use some non-essential cookies (including third-party cookies) to help us improve the site. 679215 Registered office: 1 London Bridge Street, London, SE1 9GF. Existing €500 banknotes continue to be legal tender, so you can still use them as a means of payment and store of value (i.e. The deadline to use your old Scottish £5 and £10 notes has been set for March 1 - meaning the paper notes will cease to be legal tender after that date. The Bank of England currently hasn’t said when old £20 notes will expire - this means that you can still use old £20 notes if you have any. Old banknotes retain their value for all time, so while you can't use them in shops, you can return them to the Bank of England or to most major banks and get a new polymer banknote in exchange. To exchange your banknotes by post, please fill out the business banknote exchanges application form Opens in a new window Opens in a new window and send it to us along with: We accept the following identity documents and reserve the right to request identification and proof of address for an exchange of any value: We accept the following as proof of address: We may keep your banknotes to carry out additional checks if we need to.Â. You have a number of rights under data protection laws. [Related story: Watchdog calls for major online banking and overdraft changes] Exchanging old notes. If the money you are exchanging belongs to you and you are exchanging banknotes worth £999 or less, you may not need to bring any form of identification. Please note we can only pay into accounts that accept sterling (GBP). Government has permitted various exemptions for certain transactions and activities wherein payment could be made only through old Rs. Figures from the Bank of England suggest there’s still £2.2 billion of old paper £10 notes in circulation. We pay for your stories! If the money you are exchanging belongs to a business, you need to bring the following with you: Original photo ID and proof of address for you and an original letter of authority naming you and signed by a representative of the company on headed paper. The seller hoped that notes would increase in value as the deadline for paper notes being withdrawn from circulation drew nearer. We collect your personal data to assess your banknote application (in a way that complies with applicable laws and regulations, including Anti Money Laundering regulations) and to allow us to reimburse you the face value of your banknotes. We will always cash the cheque if presented at the Bank of England counter, although please note that the Counter is temporarily closed. The Bank does not expect all old £10 notes to be returned, because some will have been destroyed, gone overseas or kept as memorabilia. Two weeks ago, estimates from the Bank of England showed there was still … London, EC2R 8AH. This is necessary for the performance of a task carried out in the public interest or in the exercise of our official authority as the Central Bank of the United Kingdom. Maybe. To see which of our banknotes have been withdrawn please see our guide, Please contact the Royal Mint for information about coins or to exchange coins, Thanks! For other inquiries, Contact Us. Counterfeiters … This may mean that personal data is transferred outside the European Economic Area. Notes are usually deemed valuable and attract high bids if they have a low serial number or are in mint condition. But that does not mean your old £5 notes will become completely obsolete, as you may be able to able to exchange them at post offices or local banks. The new notes that had more advanced security features. For further details of our complaints policy and to make a complaint please click this link: thesun.co.uk/editorial-complaints/, Comments are subject to our community guidelines, which can be viewed, The old £5 note stopped being legal tender on Friday May 5, 2017, The Sun Online revealed that a cheeky eBay seller had listed an old-style fiver for £150, Independent Press Standards Organisation (IPSO), registered office in country of incorporation. Email us at tips@the-sun.co.uk or call 0207 782 4368. You have until Friday to spend your old £5 notes - here's what to do if you still have one Nationwide Building Society Nationwide will continue to accept the old £5 notes from existing customers. Yes, as a Royal Bank of Scotland Bank customer you can swap, or deposit into your account, out of circulation coins/notes and replace them with new ones. valid photo card driving licence (full or provisional), national identity card (if you are a non-UK national), valid photocard driving licence (full or provisional) – if you haven’t used this as proof of ID, utility bill or certificate from utility supplier (dated within the past six months), Council Tax bill (dated within the past six months), bank, building society or credit union statement or passbook (dated within the past six months), local council rent card or tenancy agreement, benefits book or letter from the benefits agency (dated within the past six months), telephone bill (excluding mobile phones, dated within the past six months), credit card bill (dated within the past six months), HM Revenue and Customs tax notification (dated within the past six months), Jobcentre Plus letter confirming your National Insurance number. 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