Claims must be paid into a bank account. Charles Darwin £10s were withdrawn at the start of last month and Eliz Fry £5 went last year. That’s because the Bank of England has said that old £20 notes are still being considered legal tender. Adam Smith £10 and Boulton/Watt £20s are still valid. When do the old £20 notes expire? All bank notes issued by the Bank of England retain their face value forever. ... old banknotes and obsolete currencies to cash, quickly and easily. The Reserve Bank does not accept foreign currency. The £20 banknote contains the words ‘Bank of Scotland’. How to change old notes. What happens to the old paper £20 notes? The Bank of England has not yet announced the date the old £20 note will be withdrawn from circulation. The Bank will give six months’ notice before it withdraws the old notes. Withdrawn Bank of Scotland notes are no longer a valid means of payment in Scotland or anywhere else in the UK. However, we give cash for these withdrawn Bank of Scotland banknotes free of charge. 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 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. Currency can only be returned to the Reserve Bank in Wellington. A line on its website reads: “Don’t worry, you can still use the paper £20 note … I bought a recent "limited edition" note (which whilst it is "legal tender" the bank never put them into general circulation) and even though it is only a 1 month olf £20 a USA shop offered £150 (I paid £20 and £2.50 p&p) Oldbiggles Forumite. 5. 22 February 2020 at 12:00PM. The Bank of England currently hasn’t said when old £20 notes will expire - this means that you can still use old £20 notes if you have any. The Bank of England hasn’t yet set a date to withdraw legal tender status from paper £20 notes, as it did with the paper £5 and £10 notes. Any claims of $1000 or more will need to be discussed with a … You seem to be creating a problem where there really is none, unless the source of the current notes is dubious. Assuming you have a bank account, pay in the old £20 notes and withdraw the same amount of new ones. Some banks may allow you to deposit old notes directly into your account. A new plastic £20 banknote, featuring the artist JMW Turner, was released by the Bank of England on 20 February. Even though the new notes have entered circulation, you can still spend your old notes. Currency returns may take 10-20 working days to process. Although it's a bit out of the way from most tourist attractions the Bank of England Museum is free and well worth a visit, and as you can exchange your old bank notes at the Bank it'll be even better than free! 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