For further details of our complaints policy and to make a complaint please click this link: thesun.co.uk/editorial-complaints/, Comments are subject to our community guidelines, which can be viewed, The old £5 note stopped being legal tender on Friday May 5, 2017, The Sun Online revealed that a cheeky eBay seller had listed an old-style fiver for £150, Independent Press Standards Organisation (IPSO), registered office in country of incorporation. Can you still spend paper £5 notes after 5 May 2017? Banks, building societies and Post Offices no longer accept the paper note even for exchanges, so you will have to physically go down to the BoE if you want to get your hands on fresh plastic notes. However, we exchange these withdrawn Bank of England Pound Sterling banknotes free of charge. Similarly, banks, bureaux de change and other commercial parties can keep recirculating the existing €500 notes. We pay for videos too. We collect your personal data to assess your banknote application (in a way that complies with applicable laws and regulations, including Anti Money Laundering regulations) and to allow us to reimburse you the face value of your banknotes. Paper £10 notes were withdrawn as a legal tender in March 2018 and paper £5 notes were scrapped way back in May 2017. Redeeming Old Banknotes. 1) Payments towards pre … You have a number of rights under data protection laws. Customers can still exchange old coins and notes. The $25 and $500 bills are some of the rarest ever produced in Canada. It is closed on weekends and bank holidays. We will always cash the cheque if presented at the Bank of England counter, although please note that the Counter is temporarily closed. 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. A line on its website reads: “Don’t worry, you can still use the paper £20 note for now.” And there won’t be a rush to get out and hand your notes over to a shopkeeper any time soon. We will announce the withdrawal date after we have issued our new polymer £20 note. For payments to an overseas bank account, please provide the BIC/SWIFT Code and IBAN or Account number. The counter is open from Monday to Friday from 9am to 4pm. View our online Press Pack. In complying with applicable laws and for law enforcement purposes, we may also disclose data to any government entity, regulatory authority or to any other person the Bank reasonably considers necessary. Are old Euro banknotes from the First Series still valid? Necessary cookies enable core functionality on our website such as security, network management, and accessibility. Government has permitted various exemptions for certain transactions and activities wherein payment could be made only through old Rs. 500 notes. We've lost the old pound coins and the £5 notes, it's the £10 note next, as the Bank of England reveals its 'use by date'. We pay for your stories! If you happen to have any of the old £1 coins, good luck finding a bank to exchange them. The old £10 note has been phased out. ... Customers can either use old £1 coins to deposit into their bank accounts, or they can be swapped for new ones. That means from this date when they were officially taken out of circulation and replaced by the new version, you can no longer use … 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 … To exchange your banknotes by post, please fill out the business banknote exchanges application form Opens in a new window Opens in a new window and send it to us along with: We accept the following identity documents and reserve the right to request identification and proof of address for an exchange of any value: We accept the following as proof of address: We may keep your banknotes to carry out additional checks if we need to.Â. We do not charge for this service. For more information on how these cookies work please see our Cookie policy. 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. You have until Friday to spend your old £5 notes - here's what to do if you still have one Nationwide Building Society Nationwide will continue to accept the old £5 notes from existing customers. The new fiver is stronger than its predecessor and boasts new security features making it harder to counterfeit. Bank of England reveals last day to use old £10 notes. Polymer banknotes are designed to be cleaner, safer and stronger than their paper predecessors. Exchanging old notes. You can always place them in a donation bank at a museum. Email us at tips@the-sun.co.uk or call 0207 782 4368. You can always exchange withdrawn notes with us by post. At this time there may be a delay in processing your exchange. The Bank of England has rung the changes following the launch of the new polymer notes last year. The £20s will change in 2020. No. All these places will allow usage of Rs 500 notes till the midnight of 15 December 2016. OLD-style paper £5 notes were taken out of circulation in May last year, and were replaced by durable polymer notes with extra security features. To inquire about a licence to reproduce material, visit our Syndication site. Sorted. More than a year after they ceased to be legal tender, there are still £1.5bn-worth of paper £5 and £10 notes that haven’t been cashed in. The Sun Online revealed that a cheeky eBay seller had listed an old-style fiver for £150. They were both replaced … Thousands on Universal Credit payments may get £62 less this month, Iceland is selling 'takeaway' burgers that look just like McDonald’s 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, Tesco’s £15 Valentine's Day meal deal includes heart-shaped brownies and steak, ©News Group Newspapers Limited in England No. I got lucky and found a bank to exchange mine in mid November. The paper £5 and £10 notes are long out of circulation, having been replaced by polymer versions in the past few years. Even then, buyers are known to pull out and refuse to pay. You can no longer use an old 5 pound note as it ceased to be legal tender on 5 May 2017. In future, banks and building societies may eventually stop accepting old £5 banknotes. Please note we can only pay into accounts that accept sterling (GBP). By clicking ‘Accept recommended settings’ on this banner, you accept our use of optional cookies. If you are bringing €10,000 (or sterling equivalent) or more in banknotes into the UK from any non-EU country, these must be declared on entry to the UK. OLD-style paper £5 notes were taken out of circulation in May last year, and were replaced by durable polymer notes with extra security features. 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. For more information please contact us by email at exchanges@bankofengland.co.uk or telephone 0203 461 5994 (Monday to Friday from 9am to 4pm). To see all content on The Sun, please use the Site Map. For every banknote it has ever issued, the Bank of England guarantees its face value – even if the note has been out of circulation for decades. The Bank does not expect all old £10 notes to be returned, because some will have been destroyed, gone overseas or kept as memorabilia. In theory vending machines won't take the and shops refuse them - but they don't have to say no. We explain where to exchange them. This includes your name, address, contact details and bank account information. It's been almost a year since paper fivers were pulled from circulations and replaced with polymer notes - but what do you do if you still have the old notes? spend and save them). Please give us 24 hours' notice if you wish to cash the cheque at our counter. The polymer £5 banknote was first issued by the Bank of England in September 2016. But, from midnight on 1 March 2018, these old paper notes will stop being legal tender. The Bank will not, however, disclose personal data to third parties for marketing purposes. But there’s no time limit on swapping them with the Bank of England. But that does not mean your old £5 notes will become completely obsolete, as you may be able to able to exchange them at post offices or local banks. Your own bank or the Post Office may exchange withdrawn Bank of England banknotes. But what do you do now if you still have paper fivers floating around your house? Notes are usually deemed valuable and attract high bids if they have a low serial number or are in mint condition. Existing €500 banknotes continue to be legal tender, so you can still use them as a means of payment and store of value (i.e. "The Sun", "Sun", "Sun Online" are registered trademarks or trade names of News Group Newspapers Limited. We do not send banknotes overseas. Two weeks ago, estimates from the Bank of England showed there was still … You can also post withdrawn banknotes to The Bank of England for exchange. The Bank will continue to exchange the old £5 notes indefinitely, as it would for any other bank note which no longer has legal tender status. A covering letter on headed company paper containing the following: registered office in country of incorporation. Old banknotes retain their value for all time, so while you can't use them in shops, you can return them to the Bank of England or to most major banks and get a new polymer banknote in exchange. The last time to use them was October last year. News Corp is a network of leading companies in the worlds of diversified media, news, education, and information services. The new notes that had more advanced security features. Proof of identification, a utilities statement in your name and further background information may be required for higher value exchanges. Click here to upload yours. If you have a UK bank account, the simplest and quickest way to exchange your notes will normally be to deposit them with your bank. Without this data, we cannot process your application. 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. This is necessary for the performance of a task carried out in the public interest or in the exercise of our official authority as the Central Bank of the United Kingdom. Press Spacebar or Enter to select, This page was last updated 04 January 2021, Your own bank or the Post Office may exchange withdrawn Bank of England banknotes. 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