Warning issued to people with old £20 and £50 banknotes as expiry date looms

    The Bank of England is urging people to check their purses or wallets for old banknotes as the paper versions expire next month.

    After 30th September, The Bank of England will be withdrawing legal tender status of the notes as it marks one year since the polymer £50 banknote featuring the scientist Alan Turing was issued.

    Anyone with these particular paper notes should spend the, or deposit them at a bank or Post Office before the deadline day to make use of them.

    It is estimated that around £6bn worth of paper £50 notes are currently still in circulation, according to estimates.

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    The Bank of England’s chief cashier Sarah John said “Changing our banknotes from paper to polymer over recent years has been an important development because it makes them more difficult to counterfeit, and means they are more durable.

    "The majority of paper banknotes have now been taken out of circulation, but a significant number remain in the economy, so we’re asking you to check if you have any at home."

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