Customers have simply 100 days to spend £16bn price of old-style paper banknotes earlier than they’re not authorized tender.
Thousands and thousands of £20 and £50 notes printed on paper stay in circulation however from 1 October solely the newer polymer variations can be utilized.
Anybody who has the outdated forex should spend it by 30 September, the Financial institution of England stated, or deposit the notes at a financial institution or Submit Workplace.
The paper £20 word options the economist Adam Smith whereas the £50 word has portraits of entrepreneur Matthew Boulton and engineer James Watt.
Estimates recommend greater than 300 million paper £20 banknotes, and 160 million paper £50 banknotes are nonetheless in circulation.
Plastic £50 banknotes that includes an image of well-known Bletchley Park codebreaker and scientist Alan Turing have been first issued a 12 months in the past, following their introduction for £5, £10 and £20 denominations.
Financial institution of England chief cashier Sarah John stated: “Altering our banknotes from paper to polymer over latest years has been an vital improvement, as a result of it makes them harder to counterfeit, and means they’re extra sturdy.
“Nearly all of paper banknotes have now been taken out of circulation, however a big quantity stay within the economic system, so we’re asking you to examine when you’ve got any at house.
“For the following 100 days, these can nonetheless be used or deposited at your financial institution within the regular means.”
Kaynak: briturkish.com
