when do the old 20 pound notes cease to be currency?
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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. We will announce the withdrawal date after we have issued our new polymer £20 note.
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The changeover period started on 31 July 2006, with the old coins usable up until 31 October 2006. The older 50, 20, 10 and 5c pieces are no longer legal tender, but are still redeemable at the Reserve Bank.
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The rollout of the Second Series of Euro banknotes was completed in May 2019. The First Series of Euro banknotes from €5 to €500, issued since 2002, is being replaced by the newer set of euro banknotes from €5 to €200.
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The new £50 note is set to be released in 2021 – here's everything you need to know. Following the release of the new polymer £20 note on 20 February, the £50 note is the next in line for a makeover.
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When is the new plastic £20 released? The new plastic £20 notes will come into circulation on February 20 (TODAY) and will eventually replace the current paper £20 notes we use.
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Bank of England to print plastic £50 notes. ... It will be printed on thin, flexible plastic polymer material after the Turner £20 note is issued in 2020, the Bank of England said on Saturday.
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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.
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NEW polymer £20 notes were issued on February 20, 2020, however, the old paper notes can still be used for now.
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How to cash in paper notes. The Bank of England will honour every banknote it has ever issued, no matter how long ago it stopped being legal tender. This means you will always be able to exchange withdrawn banknotes for their equivalent value in pounds.
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The polymer notes replace the old paper twenties, which have been in circulation since 2007 and feature economist Adam Smith – though you'll still be able to use the paper £20 notes in the months to come.
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First issued in 2007, the old paper £20 has been in circulation for 13 years. Sarah John, the Bank of England's current Chief Cashier has said, “Moving the £20 note to polymer marks a major step forward in our fight against counterfeiting.
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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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Yes, you can still use the old £20 notes as they are accepted as legal tender. ... The Bank of England website states: 'On 20 February 2020 we issued a new polymer £20 note. Paper notes are so 2019 (Picture: Getty) 'You will still be able to use the paper £20 note until we withdraw it from circulation.
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The new £20 note. We first issued our polymer £20 note on 20 February 2020. It features the artist JMW Turner.
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Following the news regarding Thomas Cook regrettably going into administration we have reviewed the level of support we can continue to offer you and as a result have decided to discontinue your currency card on the 6th April 2020. Please click here to read the formal closure notice.
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There are now less than four weeks left until all Scottish paper £5 and £10 notes are withdrawn from circulation. ... The Scottish note issuing banks will continue to accept old paper based notes and there are currently no plans to change this."
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Paper £20 notes can continue to be used as normal for now, as an end date for their use is yet to be announced. ... The Post Office may also accept withdrawn notes as a deposit into any bank account. And you can always exchange withdrawn notes directly with the Bank of England.