which pound notes are valid?
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There are four denominations of banknotes in circulation: £5, £10, £20 and £50. There are £5, £10 and £20 notes printed on polymer. And £20 and £50 notes printed on paper. This film will run through a number of key security features.
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The official currency of the United Kingdom is the British Pound (GBP), which is used in Great Britain, British Overseas Territories, the South Sandwich Islands, and the British Antarctic Territory, as well as Tristan de Cunha. The Pound is divided into 100 pence.
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Bank of Ireland is currently the largest issuer of banknotes in Northern Ireland. The £5 and £10 notes will bear the signature of the bank's UK chief financial officer Thomas McAreavey. Both banks' existing paper notes will remain legal tender but will be gradually removed from circulation.
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Exchanging old notes On 20 February 2020 we issued a new polymer £20 note. You will still be able to use the paper £20 note until we withdraw it from circulation.
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The banknote is being withdrawn from circulation by the Bank of England. The notes can be used until the end of 30 April. Retailers and some banks can refuse to accept the note after that date. ... There are approximately 224 million £50 notes in circulation, of which an estimated 63 million are Houblon notes.
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On 15 October 2017 a new 12-sided coin replaced the old pound coin. ... The old ten pound notes ceased to be legal tender on 1 March 2018. You can learn more about withdrawn banknotes here.
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Bank of England polymer banknotes The old paper Bank of England £5 and £10 notes have been withdrawn and cease to be legal tender. However, you can exchange them at the Bank of England. New polymer £20 notes were issued on 20 February 2020. ... Polymer £50 notes will enter circulation in 2021.
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The new £20 notes retain Sir Walter Scott and The Mound in Edinburgh, as well as the Forth Bridge. The Bank of Scotland has unveiled the design of its new polymer £20 note which will enter circulation early in 2020.
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The old £10 note went out of circulation officially at 11.59pm on March 1, 2018. However, old notes can still be exchanged at the Bank now that this point has passed. Although the new tenners came in last year until the deadline the paper money continued to be legal tender so could be spent freely.
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The Bank of England says it will give six months' notice ahead of the notes being withdrawn as legal tender. But even after the old £20 notes have been withdrawn from circulation, many banks will still accept them as deposits from customers. ... And you can always exchange withdrawn notes directly with the Bank of England.
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The legal position with regard to Scottish Banknotes is as follows: Scottish Banknotes are legal currency – i.e. they are approved by the UK Parliament. However, Scottish Bank notes are not Legal Tender, not even in Scotland. In fact, no banknote whatsoever (including Bank of England notes!)
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What's classed as legal tender varies throughout the UK. In England and Wales, it's Royal Mint coins and Bank of England notes. ... For example, 1p and 2p coins only count as legal tender for any amount up to 20p. Many common and safe payment methods such as cheques, debit cards and contactless aren't legal tender.
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The currency of Scotland is the GBP Pound (£). ... Scottish banks also issue a £1 notes which can be used as legal tender anywhere in the United Kingdom. Money can be exchanged in banks, at foreign exchange bureaus and hotels.
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What to do with old pound coins. Unlike bank notes, UK coins are produced by the Royal Mint, who take no responsibility for coins that are no longer in circulation. However, most banks have said that they will accept old pound coins indefinitely, though you will need to be a customer of that particular bank.
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The old banknotes are still valid, so you can keep using them – or exchange them for new notes at any Eurosystem national central bank. You can also exchange old notes back into sterling at a Post Office.
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1. Re: Euro notes of 2002 valid? Yes, they're still valid - they don't have an expiration. They are just worth a lot less than 14 years ago!
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The £50 note will not be scrapped and will instead get a plastic redesign, the Bank of England has said. ... Polymer £5 and £10 notes are already in circulation, while a £20 design will be issued in 2020. There are currently 330 million £50 notes in circulation, with a combined value of £16.5bn, the bank said.