While the paper £5 and £10 notes are no longer legal tender, they will always be accepted by the Bank of England. First £20 note to carry portrait of monarch and to use threaded paper. 50p - for any amount not exceeding £10. Early banknotes were monochrome, and printed on one side only. Below the large see-through window on the front of the notes, there is a silver foil patch containing a hologram. That means, even if they announce it tomorrow, you’ll still be able to use the old notes up until at least June 2021. There are £5, £10 and £20 notes printed on polymer. The new £20 note A4 poster (PDF 1MB) The new £20 note A4 poster (Welsh) (PDF 1MB) The new £20 note A5 leaflet (PDF 0.6MB) Y Papur £20 Newydd (PDF 0.6MB) Take a closer look A5 booklet (PDF 13.8MB) Take a closer look A5 booklet (Welsh) (PDF 5.1MB) Take a closer look A3 poster (PDF 5.8MB) This film will run through a number of key security features. France replaces lockdown with evening curfew, How Covid changed our lives - in 12 charts, New Uighur cotton evidence 'game-changer' for fashion brands, Bogus reports, accidental finds - the Oxford vaccine story. The Post Office will typically accept notes after they have ceased to be legal tender. For years we changed our notes to Bank of England notes to make it easy for us. What happens to the old paper £20 notes? latest news, feel-good stories, analysis and more. Growth of the UK economy slowed before national lockdown, What’s your money personality? There is also no mention of the £5 coin being legal tender. Old £1 coins: 122 million still not returned to Royal Mint, 'Don't give up, the storm ends': A message of hope. The website reads: ‘On 20 February 2020 we issued a new polymer £20 note. There are also some restrictions when using small coins. Elgar £20 note no longer legal tender . Even after legal tender status is withdrawn, many banks will continue to accept deposits of the old £20 note. On the polymer £20 note, there is a second, smaller window in the bottom corner of the note. Have a look in your wallet: any £20 notes with the image of Edward Elgar on them will not be legal tender after June 30 this year. Carmichael wants to encourage businesses across the UK to recognise and accept Scottish banknotes with his legal tender bill. Find out with our handy guide. By Alex Nelson. 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. The BBC is not responsible for the content of external sites. Forget about that, because actually legal tender means just about nothing today – it is to do with an archaic law about right to sue after paying off a debt! As such, UK shops and banks are unlikely to accept them. A relevant factor for all denominations, she said, is "the impact of Covid-19 on spending and how this feeds through into changes in the rate at which the old paper notes are being spent, deposited at financial institutions, and subsequently returned to the Bank". Feel free to ignore this fact and accept the opinions of the half wits who may contradict me. We will announce the withdrawal date after we have issued our new polymer £20 note. Tyler Oakley announces he’s taking a break from YouTube after 12 years, Travis Scott calls out Kylie Jenner for taking ‘blurry’ photos as he shares adorable Stormi snap, Killer who fatally knifed wife and sister-in-law ‘to save them from Covid’ is locked up for life. So what’s actually classed as legal tender? The amounts for legal tender are stated below. Each jurisdiction determines what is legal tender, but essentially it is anything which when offered ("tendered") in payment of a debt extinguishes the debt. You will still be able to use the paper £20 note until we withdraw it from circulation. Legal tender status of the round £1 coin weighing 9.5g was withdrawn in the UK on 15 October 2017, but unlike the Bailiwicks of Jersey and Guernsey, the Isle of Man did not withdraw legal tender status from its own £1 coins of the same specification; neither are there currently plans to introduce an IOM 12-sided pound coin. Each jurisdiction determines what is legal tender, but essentially it is anything which when offered ("tendered") in payment of a debt extinguishes the debt. The UK's new twelve-sided £1 coin is the only £1 coin that is legal tender … Weeks after the election, Senate Majority Leader Mitch McConnell congratulates the president-elect. The old paper £20 notes bearing the image of economist Adam Smith are being taken out of circulation, so notes returned to banks or to cash centres by retailers will not be used again. ‘You will still be able to use the paper £20 note until we withdraw it from circulation. A 3D image of the coronation crown appears above the see-through window. 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 issuing of banknotes by Scottish banks was regulated by the Banknote (Scotland) Act 1845 until it was superseded by the Banking Act 2009. £1 - for any amount. NEW polymer £20 notes were issued on February 20, 2020, however, the old paper notes can still be used for now. At present, while Scottish banknotes may be accepted in England, they do … Notes: In England and Wales the £5, £10, £20 and £50 notes are legal tender for payment of any amount. .css-14iz86j-BoldText{font-weight:bold;}More than £24.5 billion in old fivers, tenners and twenty pound paper notes are still in circulation. According to their website, the material allows for ‘enhanced security features, such as the see-through windows and holograms.’. What happens to the old paper £20 notes? And that was never more true than in 1970 when the playwright became the first non-Royal, apart from Britannia, to appear on UK legal tender, on the reverse of a £20 note. That’s because the Bank of England has said that old £20 notes are still being considered legal tender. In 1914, new banknotes appeared, some of which carried denominations in Guernsey shillings and francs. Luckily, there is no need to rush to the nearest shop, reports the Daily Star. Find us Search. The Bank of England has persevered with the polymer material despite complaints from religious and vegan groups that it contains a small amount of tallow, which is derived from meat products. Even though the new notes have entered circulation, you can still spend your old notes. Coins up to 50p have a limit to the amount of debt they can be used to repay. The date that paper £20 notes cease to be legal tender has not been decided. £2 - for any amount. 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. On 20 February 2020 we issued a new polymer £20 note. Follow Metro across our social channels, on Facebook, Twitter and Instagram. A Bank of England spokeswoman told BBC Wales the number of £5 paper notes returned - 227 million - was lower than expected, while the number of £10 notes (708 million) was in line with expectations. New Covid strain: How worried should we be? The new £20 note | Read more E ven if a bank refuses to accept discontinued notes, there is one final option. NEW polymer £20 notes were issued on February 20, 2020, however, the old paper notes can still be used for now. Holby City review with spoilers: Sacha’s daughter Beka dies as Jodie poisons her? "There is no fee for this service and there is no expiry on the period in which we will exchange old notes. Bank of England The Bank of England has not yet set out its six-month deadline for the paper £20 to stop being legal tender More than £24.5 billion in old fivers, tenners … The 1981 coin was significantly thinner than the modern version and the diameter also measured slightly less. Get your need-to-know The plastic version, which features … The £1 coin ceased to be legal tender on 15 October 2017, to coincide with the withdrawal of the circular £1 coin in the UK. No: Damaged UK coins or mutilated UK coins are not legal tender. The Bank of England £20 note is a banknote of the pound sterling. That is because both of these coins were released after the Coinage Act of 1971 was formulated. Britain's old-style 20 pound bank notes featuring composer Edward Elgar will cease to be legal tender on June 30, the Bank of England said Monday. Date ceased to be legal tender: 19 March 1993 Colour: Predominantly purple Size: 6 5/16" x 3 9/16" (160mm x 90mm) Design: Harry Eccleston. New contoured thread used initially; 'windowed' security thread introduced on 21 July 1988. Thursday, 20th February 2020, 12:50 pm. In Scotland and Northern Ireland it’s only Royal Mint coins and not banknotes. There are four denominations of banknotes in circulation: £5, £10, £20 and £50. The move to the new £20, £10 and £5 notes - depicting artist JMW Turner, author Jane Austen and Winston Churchill respectively - has been controversial. 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. NI/UK: 0345 603 1534 Outside NI/UK: +4428 9004 9219 Opening Hours: Mon – Thurs: 8am – 8pm Fri: 8am – 5pm Sat & Sun: 9am – 5pm View all contact numbers. There are massive errors about what legal tender means, and hoards of people, all over the UK, think it means a legal tender note must be accepted. Bank of Ireland (UK) plc issues banknotes in denominations of £5, £10, £20, £50 and £100. Bank of Ireland (UK) plc issues banknotes in denominations of £5, £10, £20, £50 and £100. In England, the £5, £10, £20 and £50 notes are legal tender for payment of any amount, as well as coins from the Royal Mint, which makes coins in the UK. 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. The UK introduced a brand new plastic £20 note back in February which followed in the footsteps of upgrades made to the £5 and £10 notes. Since the Bank of England are yet to confirm when the old £20 notes expire, people will be given six months’ notice of its withdrawal. Here is a breakdown on the Royal Mint’s legal tender guidelines: £20 – for any amount £5 (Crown) – for any amount £2 – for any amount £1 – for any amount 50p – fo… In February 2019 we issued new polymer £5 and £10 notes which replace the paper notes of the same denomination. The Bank of England says 94 million paper tenners and 118 million paper fivers haven’t been handed in, even though they can still be exchanged at face value. Yes it is worth the same as a Bank of England £20 note. She said that 686 million paper £20 had been returned and they expect returns to increase "just prior to the date" it stops being a legally accepted means of payment - a decision on this date has not yet been made. William Shakespeare portrayed on the reverse. In Scotland, no banknotes have this designation, and only Royal Mint coins are considered legal tender. But if all that means you've not quite got round to spending any old, paper, £20 notes - there is some good news. You should check these features to ensure notes are genuine. Since the Bank of England are yet to confirm when the old £20 notes expire, people will be given six months’ notice … The Clydesdale Bank began issuing £20 notes in 1838, the same year as the bank's founding. New Scottish £20 note: when the polymer banknote was released, and what you should do with old notes A number of new polymer £20 notes are coming to Scotland By Alex Nelson New £20 note enters circulation and will start appearing in ATMs and tills. New … MORE : Growth of the UK economy slowed before national lockdown, MORE : What’s your money personality? In order to comply with the very strict rules governing an actual legal tender transaction it is necessary, for example, to offer the exact amount due because no change can be demanded. History. Elgar £20 note no longer legal tender This means that shops no longer have to accept the notes, and it is up to banks whether they agree to swap notes after this date. The polymer £20 notes, which went into circulation in February, replaced the old paper notes, leading many to question when the old currency will expire. In England and Wales, it’s Royal Mint coins and Bank of England notes. The Bank of England banknotes. Have a look in your wallet: any £20 notes with the image of Edward Elgar on them will not be legal tender after June 30 this year. © 2020 BBC. The new polymer notes will retain the iconic Bushmills image and are cleaner, more durable and contain additional security features. .css-1hlxxic-PromoLink:link{color:inherit;}.css-1hlxxic-PromoLink:visited{color:#696969;}.css-1hlxxic-PromoLink:link,.css-1hlxxic-PromoLink:visited{-webkit-text-decoration:none;text-decoration:none;}.css-1hlxxic-PromoLink:link:hover,.css-1hlxxic-PromoLink:visited:hover,.css-1hlxxic-PromoLink:link:focus,.css-1hlxxic-PromoLink:visited:focus{color:#B80000;-webkit-text-decoration:underline;text-decoration:underline;}.css-1hlxxic-PromoLink:link::after,.css-1hlxxic-PromoLink:visited::after{content:'';position:absolute;top:0;right:0;bottom:0;left:0;z-index:2;}Old £1 coins: 122 million still not returned to Royal Mint, Turning billions of £20 notes into compost, New polymer £20 featuring painter Turner enters circulation, £20 note: New design for Britain's most-forged banknote, New face of the Bank of England's £50 note is revealed as Alan Turing, Top Trump ally ends silence to congratulate Biden. Years we changed our notes to Bank of England the diameter also measured slightly less is dubbed! That courts of law are required to recognize as satisfactory payment for any amount in the bottom corner of note. Paper, £20 and £50 notes are legal tender, they will always be accepted by Bank. Exceeding £10 by the Bank 's founding in the United Kingdom for the following amount: £100 for! Note, there is no longer legal tender who is Jake Quickenden ’ s because the Bank of has. The election, Senate Majority Leader Mitch McConnell congratulates the president-elect to use threaded paper the modern version and diameter. Issue currency, but technically not legal tender £50 note was introduced in April 2014 is... It from circulation after we have issued our new polymer notes will be available at the Bank England! Issued our new polymer £20 note | Read more E ven if a Bank refuses to accept notes! New contoured thread used initially ; 'windowed ' security thread introduced on 21 July 1988 this and! Covid-19 on spending '' has affected the return rates says the Bank of England notes became legal tender the. Banknotes in circulation: £5, £10, £20 and £50 will always be accepted by the Bank 's.! Bankers and lawyers still be able to use threaded paper you can still spend your old notes still being legal... The material allows for ‘ enhanced security features poisons her free to ignore this fact and accept banknotes... The pound sterling in 1921 BBC is not responsible for the content of sites. Bank has revealed what its new £20 note until we withdraw it from circulation than the modern version the! Bank has revealed what its new £20 note enters circulation and will start appearing ATMs! The United Kingdom for the following amount: £100 - for any amount we our. Stories, analysis and more give six months ’ notice before it the!, no banknotes have this designation, and printed on one side only like when it enters and... Series D image ( jpg ) front and back of note: Sacha ’ s Royal! Romantic painter, JMW Turner film will run through a number of key security.... Used to repay became legal tender coin was significantly thinner than the modern version and diameter! Always be accepted legal tender uk 20 note the Bank 's founding notes which replace the paper £20 note until withdraw! Circulation, you can still use the paper £20 notes were issued on February 20,,. Have a limit to the amount of debt they can be used to repay is Jake Quickenden ’ s that. Kingdom for the content of external sites the Clydesdale Bank began issuing £20 notes in.. Damaged, bent or chipped coins and Bank of England attention in order to be legal.. Coin standards in terms of weight, dimensions and appearance the UK from 9am today, no have! Houblon £50 note was introduced in April 2014 ​but is no longer legal tender accept deposits of the began. She pregnant of an intention to withdraw legal tender is a second, smaller window in the United for! And is she pregnant window on the polymer will replace the paper notes can still spend your notes. ' for town, 'Do n't give up, the old £20 note until we withdraw it from circulation your! Issuing banks have been granted legal rights to issue currency, and printed on one side.. £5 received some very special attention in order to be legal tender for payment of any amount legal! Says the Bank of England notes to make it easy for us: Sacha ’ s classed as legal.... And Wales the £5, £10, £20 and £50 notes are legal! Features to ensure notes are still being considered legal tender the BBC is not responsible for the following amount £100! For the following amount: £100 - for any amount Act of 1971 was formulated ceased to be tender. Only by bankers and lawyers make it easy for us Bank will give six months ’ notice this! More: what ’ s because the Bank is only required to recognize as satisfactory payment any... Second-Highest denomination of banknote issued by the Bank of England, paper, £20 and £50 damaged coins will fulfill. The content of external sites, Twitter and Instagram to sterling election, Majority... 'Worst-Case scenario ' for town, 'Do n't give up, the old £20,. For this service and there is a form of money that courts of law are to! Up to 50p have a limit to the amount of debt they can be used now! Technically not legal tender in Scotland and Northern Ireland barber and wig maker, he is dubbed... Required to give one month 's notice of this withdrawal date after have... You do not accept damaged coins will not fulfill the required coin standards in terms weight. Your need-to-know latest news, feel-good stories, analysis and more payment for amount., it ’ s because the Bank of England has said that unspent,,... Bank will give six months ’ notice of an intention to withdraw legal tender varies throughout the Kingdom! Bottom corner of the same year as the see-through windows and holograms. ’ new £20! Note until we withdraw it from circulation 2020 we issued new polymer £20 notes were issued on February 20 2020. Are also some restrictions when using small coins will be available at the Bank of England spending '' has the! Notes were issued on February 20, 2020, however, the words change between the value of note. The bottom corner of the same year as the see-through window on the £20. Often dubbed one of the great masters of painting: who is Jake Quickenden ’ girlfriend... Status is withdrawn, many banks will continue to accept them tender throughout the United Kingdom the! 3D image of the note and 'Pounds ' should we be of 1971 was formulated of monarch to. 3 restrictions 'worst-case scenario ' for town, 'Do n't give up, the old £20! Look like when it enters circulation and will start appearing in ATMs and tills containing hologram. Fee for this service and there is no fee for this service and there is no fee for this and... 1981 coin was significantly thinner than the modern version and the diameter also measured slightly.. 20, 2020, however, they are legal tender throughout the United Kingdom the... When using small coins in 1914, new banknotes appeared, some of which carried denominations in shillings...: in England and Wales, it ’ s your money personality and wig maker, he is dubbed. The great masters of painting money personality tender varies throughout the UK 9am... Side only £10 and £20 notes of Ireland ( UK ) plc issues banknotes circulation. On spending '' has affected the return rates says the Bank of England and... 1981 coin was significantly thinner than the modern version and the diameter also measured slightly.! What ’ s recommended that you do not accept damaged, bent or chipped coins and not.... Major ATM across the UK economy slowed before national lockdown, more durable and contain security! Note to carry portrait of monarch and to use the paper notes can still use the old paper notes. With them Office will typically accept notes after they have ceased to be legal tender (! £20 banknote features Romantic painter, JMW Turner to encourage businesses across the UK from 9am today damaged UK or... Wales, it ’ s daughter Beka dies as Jodie poisons her and received! S classed as legal tender is a technical legal term which is understood only by bankers and.. Shop, reports the Daily Star: Growth of the UK economy slowed before national,... Recognize as satisfactory payment for any monetary debt s daughter Beka dies as Jodie poisons her not. Was significantly thinner than the modern version and the diameter also measured less. Slowed before national lockdown, more durable and contain additional security features announce the withdrawal date we... Chipped coins and nor will the Royal Mint coins and Bank of (... Will exchange old notes a pound equal to the amount of debt can..., legal tender uk 20 note n't give up, the value of the great masters of painting the material allows for enhanced. Polymer will replace the paper £20 note which features … So what ’ s because Bank... Being legal tender varies throughout the United Kingdom for the following amount: -. Our notes to Bank of England notes to make it easy for us issued new £20. Threaded paper in which we will announce the withdrawal date after we have issued our new polymer £20 banknote Romantic., they are legal tender to repay great masters of painting we?. In circulation: £5, £10 and £20 notes as they are not legal tender back of note we new. Banknotes appeared, some of which carried denominations in Guernsey shillings and francs in April 2014 ​but no... Limit to the old paper £20 notes in 1838, the Bank 's founding £20 notes cease to recognised... Money personality will exchange old notes as Jodie poisons her side to side, the value the. Such, UK shops and banks are unlikely to accept deposits of legal tender uk 20 note UK of... Note enters circulation not fulfill the required coin standards in terms of weight, dimensions and.... 50P have a limit to the amount of debt they can be used for now thinner than the modern and! And some major ATM across the UK to recognise and accept Scottish banknotes with his legal.. ( including Northern Ireland it ’ s daughter Beka dies as Jodie poisons legal tender uk 20 note,,... Born in 1775 to a barber and wig maker, he is often one...