The days of spending paper banknotes in stores are counted: 100 days, to be exact – so start hunting at home.
The remaining £ 20 or £ 50 notes should be spent or deposited by the end of September, the Bank of England said.
An estimated 163 million paper £ 50 banknotes and about 314 million £ 20 paper notes are still in circulation, the bank said.
These notes are being replaced with plastic versions, just like the £ 5 and £ 10 notes, which are more durable.
The bank says new, polymer notes are also difficult to counterfeit.
“Most of the paper notes are out of circulation now, but a significant number remain in the economy, so we’re asking you to check if they’re sitting at home,” said Sarah John, the bank’s chief cashier, who signed the new notes.
From October, people with UK bank accounts will still be able to deposit paper notes in their accounts or at the post office, but it will be impossible to spend them.
The £ 20 and £ 50 notes issued by Clydesdale Bank, Royal Bank of Scotland and Bank of Scotland will also be withdrawn on the same date.
The কাগ 20 paper notes issued by Bank of Ireland, AIB Group, Danske Bank and Ulster Bank in Northern Ireland will also be withdrawn after 30 September.
Alan Turing is being celebrated
The Bank of England, featuring economist Adam Smith, has had a £ 20 paper circulation since 2007, but has been gradually replaced by a plastic version that includes works and portraits by artist JMW Turner.
Also withdrawn is a £ 50 note on paper showing Matthew Bolton and James Watt. It was introduced in 2011 but has now been replaced by Alan Turing for integrated polymer notes.
He helped speed up the Allies’ efforts to read the German naval messages encipher with the help of the Enigma machine and thus helped to shorten World War II and save lives. He also played a leading role in the development of early computers, first at the National Physical Laboratory and later at the University of Manchester.
Turing was gay at a time when homosexuality was illegal and he was convicted of having an affair with a man.
Her presence on the new 50 50 note is welcomed as a symbol of a country facing gay men being abused by some sections of the LGBT + community.
Polymer fiber featuring Winston Churchill was launched in 2016, and the plastic সহ 10 note with Jane Austen’s portrait was first issued in 2017.
All old paper notes can be exchanged by the Bank of England at any time.