The paper £5 and £10 notes are long out of circulation, having been replaced by polymer versions in the past few years. Without this data, we cannot process your application. You can still use your paper £20 notes for now. Weâll give you 6 monthsâ notice of the date youâll no longer be able to use the paper £20. Paper £10 notes were withdrawn as a legal tender in March 2018 and paper £5 notes were scrapped way back in May 2017. 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. Small amounts can be exchanged without going through a customerâs account, while larger amounts will need to be deposited into the account. 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. The old-style Elizabeth Fry paper notes will cease to be legal tender on Friday (May 5) meaning you will not be able to use them. The Bank of England currently hasnât said when old £20 notes will expire - this means that you can still use old £20 notes if you have any. All existing polymer banknotes can continue to be used as both versions of the $5, $10, $20, $50 and $100 banknotes will be in circulation for a number of years. We will announce the withdrawal date after we have issued our new polymer £20 note. 500 notes. We will give six monthsâ notice of this withdrawal date. When completing a banknote exchange form, the Bank of England collects personal data about you. 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 ownerâs photo ID and proof of address. Existing â¬500 banknotes continue to be legal tender, so you can still use them as a means of payment and store of value (i.e. Your own bank or the Post Office may exchange withdrawn Bank of England banknotes. The Bank of England is yet to set a date for when the old £20 notes will no longer be valid, meaning you can still use them freely for now. When making payments, the Bank may provide personal data to financial institutions and payment systems involved. 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. The counter is open from Monday to Friday from 9am to 4pm. To exchange your banknotes by post, please fill out the banknote exchanges application form Opens in a new window Opens in a new window and send it to us with the banknotes along with copies of your photo ID and proof of address. To contact us about those rights, including making a request for the personal data we hold about you or to make a complaint, please see our privacy page or write to us at: The Privacy Team See our blog How to ⦠The Bank will not, however, disclose personal data to third parties for marketing purposes. For every banknote it has ever issued, the Bank of England guarantees its face value â even if the note has been out of circulation for decades. But thereâs no time limit on swapping them with the Bank of England. The Sun Online revealed that a cheeky eBay seller had listed an old-style fiver for £150. The old versions of British Pound Sterling banknotes have been withdrawn from circulation and are no longer a valid means of payment in the UK. 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 Sun website is regulated by the Independent Press Standards Organisation (IPSO), Our journalists strive for accuracy but on occasion we make mistakes. The Bank of England is located at Threadneedle Street in London, EC2R 8AH. You can unsubscribe at any time. The $25 and $500 bills are some of the rarest ever produced in Canada. We use necessary cookies to make our site work (for example, to manage your session). That means from this date when they were officially taken out of circulation and replaced by the new version, you can no longer use ⦠Yes, you can still use the old £20 notes as they are accepted as legal tender. No. Thousands on Universal Credit payments may get £62 less this month, Iceland is selling 'takeaway' burgers that look just like McDonaldâs Big Macs, Self-employed will have to wait for March Budget to find out about cash support, Cost of filling up rises by £2 in a month as petrol prices soar, Tescoâs £15 Valentine's Day meal deal includes heart-shaped brownies and steak, ©News Group Newspapers Limited in England No. You can no longer use an old 5 pound note as it ceased to be legal tender on 5 May 2017. We will always cash the cheque if presented at the Bank of England counter, although please note that the Counter is temporarily closed. Do you have a story for The Sun Online news team? With the expiry of the paper £5 and £10 notes, a string of banks and the Post Office gave people extra time to pay paper notes into their accounts - even when they ⦠No. A copy of photo ID and proof of address must also be provided for the representative who signed the letter. More information can be found here. I got lucky and found a bank to exchange mine in mid November. The £20s will change in 2020. We can pay your money into a bank account (normally within ten working days), by cheque or, if you live in the UK and your exchange is worth less than £50, in new banknotes. The â¬500 Euro banknotes will no longer be issued and they are no longer in circulation since 2019. This includes your name, address, contact details and bank account information. We use this information to confirm you are who you say you are, to facilitate increased checks for higher value exchanges, to audit our processes and to comply with applicable laws and regulations. We may make reference to your previous claims to the Bank, and in some instances commercial sources, to enable us to meet our obligations in assessing your application. Alternatively, exchange them with us by post, business banknote exchanges application form. The polymer £5 banknote was first issued by the Bank of England in September 2016. This service is provided on News Group Newspapers' Limited's Standard Terms and Conditions in accordance with our Privacy & Cookie Policy. Be aware the banknotes are sent at your own risk. Proof of identification, a utilities statement in your name and further background information may be required for higher value exchanges. 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