Or, you can decide to keep them. England's deputy chief medical officer urges those who have had the jab to stick to lockdown rules. 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The website reads: âOn 20 February 2020 we issued a new polymer £20 note. In the eight months since then, it's fair to say things have been a little unsettled - with lockdown seeing shops close, an accelerating move to contactless payments and a rise in online shopping just a few of the consequences for the global conronavirus pandemicÂ on the UK. Video. With the expiry of the paper Â£5 and Â£10 notes, a string of banks and the Post Office gave people extra time to pay paper notes into their accounts - even when they stopped being legal tender. The demise of the paper notes follows the official withdrawal in October 2017 of the old circular £1 coin, which has been replaced by a 12-sided version - about 122m round £1 coins have not been returned to the Royal Mint. iPlayer, Looking for laughter this weekend? When you subscribe we will use the information you provide to send you these newsletters. Ulster Bank has revealed what its new £20 polymer note will look like when it enters circulation. The date that paper £20 notes cease to be legal tender has not been decided. While the paper £5 and £10 notes are no longer legal tender, they will always be accepted by the Bank of England. All notes from the eighth series remain valid until further notice. I have just exchanged my English Money £200. The UK's new twelve-sided £1 coin is the only £1 coin that is legal tender â¦ There are guaranteed changes that will require both businesses and individuals to plan ahead - regardless of the outcome of negotiations with the EU. explains more about how we use your data, and your rights. 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The paper that helped the homeless. How the pandemic has changed the world economy, The homeless addict who became a history professor, The drugs kingpin who joined the Probation Service, The paper that helped the homeless. I have £3,500 in £20 notes with Elgar's face on that will not be legal tender beyond the end of June. Thatâs because the Bank of England has said that old £20 are still being considered legal tender. The polymer notes last two-and-a-half times longer than traditional notes, and the bank is encouraging customers to exchange their paper notes. As we transition to our new relationship we ALL need to take action to prepare. A relevant factor for all denominations, she said, is "the impact of Covid-19 on spending and how this feeds through into changes in the rate at which the old paper notes are being spent, deposited at financial institutions, and subsequently returned to the Bank". The Clydesdale Bank began issuing £20 notes in 1838, the same year as the bank's founding. And there's one way to guarantee to get your old Â£20 note swapped â head to the Bank of England itself. On 27 February 2019 we introduced our polymer £10 bank note followed by our polymer £20 bank note on 20th July 2020. They have the same value as the equivalent banknotes of the Second Series of Euro banknotes. Share on FacebookShare on TwitterShare by email More than a year after they ceased to be legal tender, there are still £1.5bn-worth of paper £5 and £10 notes that havenât been cashed in. "There is no fee for this service and there is no expiry on the period in which we will exchange old notes. The Bank will give six monthsâ notice before it withdraws the old notes. Re: Are old euro notes still legal tender and usable in Spain? iPlayerWhere is the missing Swedish journalist? William Shakespeare portrayed on the reverse. "The impact of Covid-19 on spending" has affected the return rates says the Bank of England. Can Wales meet its Covid-19 vaccine targets? What can you do with old, paper, Â£20 notes? On February 20, 2020, the Bank of England released a new, polymer, Â£20 note - to replace the existing paper ones. The old paper £20 notes bearing the image of economist Adam Smith are being taken out of circulation, so notes returned to banks or to cash centres by retailers will not be used again. 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Some of the rarer notes, such as the $25 and $500, can be worth significantly more than face value. In April 2016, the Swiss National Bank began phasing out the eighth banknote series and replacing it with the ninth. 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. Thatâs because the Bank of England has said that old £20 notes are still being considered legal tender. The final denomination, the 100-franc note, was issued on 12 September 2019. New 'windowed' security thread introduced on 15 November 1984. The better news is there's no rush to spend them - with the Bank also promising 6-months notice before they are withdrawn. Seven of the eight months since the new Â£20 note came out have been spent with coronavirus restrictions in place - but what does that mean if you still have unspent paper ones? However, they are not legal tender in Scotland and Northern Ireland. Related articles A Bank of England spokeswoman told BBC Wales the number of £5 paper notes returned - 227 million - was lower than expected, while the number of £10 notes (708 million) was in line with expectations. The Bank of England hasnât yet set a date to withdraw legal tender status from paper £20 notes, as it did with the paper £5 and £10 notes. PM talks to Biden in first call since inauguration, Firms planned 800,000 redundancies last year, The man who invited the world over for dinner. Yes, you can still use the old £20 notes as they are accepted as legal tender. We will announce the withdrawal date after we have issued our new polymer £20 note. The old Euro banknotes from the First Series remain legal tender.