Figures from the Bank of England suggest there’s still £2.2 billion of old paper £10 notes in circulation. Are you sure you want to mark this comment as inappropriate? The deadline to use your old Scottish £5 and £10 notes has been set for March 1 - meaning the paper notes will cease to be legal tender after that date. The 25-øre coin ceased to be legal tender on 1 October 2008. The old £10 note has been phased out. The “most secure” 12-sided £1 coin entered circulation in March 2017, while the old round £1 coin lost its legal tender status in October 2017. Now that the deadline has passed you won't be able to spend your notes in shops or restaurants. All bank notes issued by the Bank of England retain their face value forever. A line on its website reads: “Don’t worry, you can still use the paper £20 note for now.” The bank said it would accept the old notes indefinitely. The old five pound note ceased to be legal tender on 5 May 2017. The old ten pound notes ceased to be legal tender on 1 March 2018. The old £10 note went out of circulation officially at 11.59pm on March 1, 2018. "The Sun", "Sun", "Sun Online" are registered trademarks or trade names of News Group Newspapers Limited. Some banks may allow you to deposit old notes directly into your account. From Friday 2 March shops will no longer be required to accept the paper banknotes that feature a portrait of Charles Darwin. Reminder: Effective January 1, 2021, the Government will remove legal tender designation from certain bank notes that are no longer being produced—the $1, $2, $25, $500 and $1,000 notes—the final step to fully removing them as transactional notes in Canada. if you post it to The Bank of England, you do so at the “sender’s risk”. Exclusive figures from the Royal Mint for YourMoney.com reveal £131m worth of old pound coins have yet to be returned to the Royal Mint. … Jörg Zintzmeyer’s notes. This service is provided on News Group Newspapers' Limited's Standard Terms and Conditions in accordance with our Privacy & Cookie Policy. Yes, you can still use the old £20 notes as they are accepted as legal tender. Want an ad-free experience?Subscribe to Independent Premium. 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. Please be respectful when making a comment and adhere to our Community Guidelines. There are now currently around 269 million polymer £5 Bank of England notes and 777 million polymer £10 notes in circulation. Each note of a different value has its own striking colour and a bold, enlarged numeral on both the front and back of the note. All previous issues of Australian banknotes retain their legal tender status. Withdrawn Bank of Scotland notes are no longer a valid means of payment in Scotland or anywhere else in the UK. Figures from the Bank of England suggest there’s still £2.2 billion of old paper £10 notes in circulation. Some banks may allow you to deposit old notes directly into your account. How many old bank notes are still out there? That’s because the Bank of England has said that old £20 are still being considered legal tender. image caption The old £10 note has gone the way of the old pound coin. The new polymer notes are said to be significantly harder to forge. These are the only versions of these denominations that shops are legally obliged to accept. In some countries (e.g. The various denominations are differentiated by their colour and size: The Currency Commission was set up under the Currency Act 1927 with the responsibility for banknote issuance. However, they are not legal tender in Scotland and Northern Ireland. One of the 20 Euros is different , I am now worried if this note is still legal currency, as I am off to France for a few days next week. 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. But, from midnight on 1 March 2018, these old paper notes will stop being legal tender. Create a commenting name to join the debate, There are no Independent Premium comments yet - be the first to add your thoughts, There are no comments yet - be the first to add your thoughts. A description for each Series is provided. Please continue to respect all commenters and create constructive debates. How to change old notes. Old paper £10 notes will go out of circulation by the end of today, after which they will cease to be legal tender in shops. On 15 October 2017 a new 12-sided coin replaced the old pound coin. Encashment of the 25-øre coin was possible until 1 October 2011. How to change old notes. When the design of the new £10 was first unveiled in July last year it was praised by members of the blind and visually impaired community for its tactile features. Start your Independent Premium subscription today. the Deutsche Mark in Germany) you can still change old banknotes and coins into Euro (1 DM = 0,511292 Euro).In Germany you have to go for this to a branch of the Bundesbank. You can find our Community Guidelines in full here. The most insightful comments on all subjects will be published daily in dedicated articles. New figures from the Bank of England show that as of 1 March, exactly a year after the legal tender status of the paper Charles Darwin £10 banknote was withdrawn, there were around 102 million old paper tenners – worth over £1 billion – … The old £10 note will be withdrawn from circulation on March 1, 2018 and they can continue to be used up until this point. A new polymer £20 banknote, featuring artist JMW Turner, is due to be issued in 2020. New figures from the Bank of England show that as of 1 March, exactly a year after the legal tender status of the paper Charles Darwin £10 banknote was withdrawn, there were around 102 million old paper tenners – worth over £1 billion – … 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. ... so you will still be able to swap old notes. History. We also exchange for free current Bank of Scotland banknotes . 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. As of today, retailers and banks no longer have to accept them as legal tender. You can use your local Post Office to deposit the old tenners into your bank account too. You will need to be an account holder with the bank for them to exchange the note. The old five pound note ceased to be legal tender on 5 May 2017. I have just exchanged my English Money £200. These banknotes were put into circulation between 1995 and 1998 and remain legal tender until further notice. It is up to retailers themselves whether they are willing to accept old banknotes and coins. We give cash for … The old £10 note went out of circulation officially at 11.59pm on March 1, 2018. Learn about legal tender bank notes, what removing legal tender status means and which bank notes are affected. THE Bank of England launched its new state-of-the-art £10 polymer note in late 2017. Our journalists will try to respond by joining the threads when they can to create a true meeting of independent Premium. Will you get paid before Christmas and can your employer pay you early? If you want to swap the old notes over for new tender you will have to make the trip to a bank, building society or Post Office. Many thanks, Janet. The 2015 Bulletin article 'Payments and the concept of legal tender' explains payments and the concept of legal tender in more detail. The new £5 note, featuring Sir Winston Churchill, entered circulation on 13 September 2016, while the new £10 note featuring Jane Austen became legal tender on 14 September 2017. Withdrawn Clydesdale Bank bills are no longer a valid means of payment in Scotland. You can also choose to be emailed when someone replies to your comment. Reminder: Effective January 1, 2021, the Government will remove legal tender designation from certain bank notes that are no longer being produced—the $1, $2, $25, $500 and $1,000 notes—the final step to fully removing them as transactional notes in Canada. We replaced it with our current £10 note in 2017. The new polymer tenner launched in September last year and you can't spend the old tenners in shops anymore. Spend your old £5 notes today while they are still legal tender. To inquire about a licence to reproduce material, visit our Syndication site. Early banknotes were monochrome, and printed on one side only. However, it is a long time since some of these banknotes actively circulated in Australia and many retailers and members of the public may be reluctant to accept them if they are not familiar … Even though the new polymer £20 are also now available and can be withdrawn from cash machines, the old, paper £20 notes can still … The move to pay transparency by businesses has been limited so far, {{#verifyErrors}} {{message}} {{/verifyErrors}} {{^verifyErrors}} {{message}} {{/verifyErrors}}, Old £10 notes are not legal tender after today, New £10 note worth £8.60 compared to pre-Brexit money, You may not agree with our views, or other users’, but please respond to them respectfully, Swearing, personal abuse, racism, sexism, homophobia and other discriminatory or inciteful language is not acceptable, Do not impersonate other users or reveal private information about third parties, We reserve the right to delete inappropriate posts and ban offending users without notification. Are the old Euro banknotes still valid, and how can you exchange them? The Series A, Series B and Series C Banknotes were in circulation from 1928 to 2000. Coins: Coins are legal tender throughout the United Kingdom for the following amount: £100 - for any amount. What will happen to the old tenners after that date? for Euros. Bank of Ireland (UK) plc issues banknotes in denominations of £5, £10, £20, £50 and £100. But, from midnight on 1 March 2018, these old paper notes will stop being legal tender. 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. View images of old banknotes on Flickr The current 10 cent, 20 cent, 50 cent, $1 and $2 coins are also legal tender. That means there are … The 25-øre coin ceased to be legal tender on 1 October 2008. New $5, $10, $20, $50 and $100 banknotes are now in circulation. Yes, you can still use the old £20 notes as they are accepted as legal tender. Notes: In England and Wales the £5, £10, £20 and £50 notes are legal tender for payment of any amount. News Corp is a network of leading companies in the worlds of diversified media, news, education, and information services. The Bank will give six months’ notice before it withdraws the old notes. Northern Ireland paper £5 and £10 banknotes are to be withdrawn from circulation on Monday. The new polymer £20 banknote will be issued in 2020, with the portrait of J.M.W Turner printed on it. To see all content on The Sun, please use the Site Map. The “most secure” 12-sided £1 coin entered circulation in March 2017, while the old round £1 coin lost its legal tender status in October 2017. Using Previous Issues of Polymer Banknotes. Banknotes All banknotes issued after 1945 are still legal tender and can be exchanged for new banknotes. The interplay of security and design. The new tenner will be followed by a new £20 note which will feature the British painter JMW Turner. The new 12-sided coin phased out the old round one. Luckily, there is no need to rush to the … Old paper £10 notes will go out of circulation by the end of today, after which they will cease to be legal tender in shops. The paper £10 notes is officially no longer legal tender. Legal Tender Deadlines. It is possible that a high street bank will stop exchanging them after the cut-off date but The Bank of England is legally obliged to. Until April 2008, all Bank of Ireland notes featured Queen's University of Belfast on the reverse side. The Royal Bank of Scotland began issuing £10 notes in 1727, the same year as the bank's founding. From Saturday 6 May British shoppers will no longer be able to use their old £5 notes in some shops and restaurants The polymer £10 banknote was issued on 14 September 2017 and legal tender status for the paper Charles Darwin £10 banknote was withdrawn on 1 March 2018. The First Series of Euro banknotes from €5 to €500, issued since 2002, is being replaced by the newer set of euro banknotes from €5 to €200. Production of the new £10 note began last August. Old currency and legal tender Series 3, 4, 5, 6 and 7 of New Zealand banknotes - $5, $10, $20, $50 and $100 notes are legal tender, regardless of how old they are and what condition they are 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. Now, the old-style £10 notes are no longer legal tender. From March 2017 new £1 coins were introduced as currency in the UK. The Bank of England said: "Polymer banknotes are more resistant to dirt and moisture, so they stay cleaner for longer than paper banknotes". It allows our most engaged readers to debate the big issues, share their own experiences, discuss real-world solutions, and more. 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 new polymer £20 banknote will be issued in 2020, with the portrait of J.M.W Turner printed on it. Currency which has ceased to be legal tender (with the date withdrawn from circulation) includes: People may also be able to exchange the old note at a local bank or post office but there is no obligation to accept them after the deadline. A new series of £5, £10 and £20 notes was issued in May 2008, all featuring an illustration of the Old Bushmills Distillery, and these notes will gradually replace the previous series.. Two weeks ago, estimates from the Bank of England showed there was still … Old paper banknotes, featuring a portrait of Charles Darwin, must be spent by 1 March, after which shops will no longer have to accept them, Find your bookmarks in your Independent Premium section, under my profile. Independent Press Standards Organisation (IPSO). Bank of England governor Mark Carney said in October that there were no plans to make a new £50 note. And a few shops ignored the deadline and decided to continue accepting the old tenners for a little bit longer. If you are exchanging large amounts of old £10 notes, you may be asked to provide identification, such as a passport or driving licence. Although the new tenners came in last year until the deadline the paper money continued to be legal tender so could be spent freely. Want to bookmark your favourite articles and stories to read or reference later? The plastic fiver, featuring Winston Churchill, entered circulation in September 2016. The banknotes are printed with tactile, raised print and smooth holograms on the £10, £20 and £50 banknotes. Many banks will accept withdrawn notes as deposits from customers. Supermarket Christmas shopping rules at Asda, Tesco and Sainsbury’s explained, Coca-Cola is giving away free personalised cans of Coke for Christmas, Debenhams launches a closing down sale with up to 80% off in stores and online, ©News Group Newspapers Limited in England No. The Sun website is regulated by the Independent Press Standards Organisation (IPSO), Our journalists strive for accuracy but on occasion we make mistakes. 679215 Registered office: 1 London Bridge Street, London, SE1 9GF. The new polymer currency was released into circulation on September 14, 2017,  and features author Jane Austen. The Bank of England has said that unspent, paper, £20 notes are still legal tender. The rollout of the Second Series of Euro banknotes was completed in May 2019. All Australian banknotes that have previously been issued into circulation by the Reserve Bank remain legal tender and can continue to be used. Both types of banknotes circulate alongside each other in the Eurozone. 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. Here is everything you need to know about the new £10 notes and what to … The new polymer notes will retain the iconic Bushmills image and are cleaner, more durable and contain additional security features. View images of old banknotes on Flickr; The current 10 cent, 20 cent, 50 cent, $1 and $2 coins are also legal tender. For other inquiries, Contact Us. Raised dots, similar to braille characters, on the left-hand side of the note and fine raised lines on the right, help those who cannot see to differentiate it from notes of other denominations. While the paper £5 and £10 notes are no longer legal tender, they will always be accepted by the Bank of England. 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. (Image: GETTY) The new £10 and £5 notes have encountered controversy because they contain tallow, an animal byproduct. This currency was bought from Sainsburys. Independent Premium Comments can be posted by members of our membership scheme, Independent Premium. But can you still exchange them, will banks - or anyone else - accept them and what should you do with any you find? Tesco recalls festive fruit and nuts packs over fears they will make you sick. I have looked it up and notice they did change the design of the note in 2015. The paper fiver is no longer legal tender, and the old £10 note will be withdrawn soon. When did the old £10 go out of circulation? The paper fiver is no longer legal tender, and the old £10 note will be withdrawn soon. They have the same value as the equivalent banknotes of the Second Series of Euro banknotes. 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 - … Banknotes All banknotes issued after 1945 are still legal tender and can be exchanged for new banknotes. It is up to retailers themselves whether they are willing to accept old banknotes and coins. The deadline to use your old Scottish £5 and £10 notes has been set for March 1 - meaning the paper notes will cease to be legal tender after that date. Even though the new notes have entered circulation, you can still spend your old notes. If you find an old tenner in your wallet after that date, you won’t be out of pocket. The old Euro banknotes from the First Series remain legal tender. At least £2.1bn worth of old £10 notes are still in circulation, despite the fact that they will cease to be legal tender in less than two weeks, the Bank of England has said. The Post Office may also accept withdrawn notes as payment for goods and services, or as a deposit into any bank account you can access at the Post Office. Although if you post it to The Bank of England, you do so at the “sender’s risk”. The old ten pound notes ceased to be legal tender on 1 March 2018. In recent years, the UK’s seen new pound coins, £5 notes and £10 notes, with further changes to come. More than £1.5bn in old fivers and tenners has still not been cashed in more than a year after the last of them ceased to be legal tender. > I mean are notes for older European currencies and coins worth saving. The amounts for legal tender are stated below. In 2009, the Glasgow-based Clydesdale Bank replaced older style Scottish Pound Sterling banknotes with a new set of notes, called the World Heritage Series. The new £10 note is the second to be printed on a plastic polymer, which the bank has said is cleaner, safer and more hard-wearing than the traditional cotton paper it will replace. 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 tenners have gone out of circulation, The Bank of England released a new tenner last year to replace the old one, ​Bank ​of England unveil the key security features on the new £10 'Jane Austen' note, ignored the deadline and decided to continue accepting the old tenners. Encashment of the 25-øre coin was possible until 1 October 2011. The old paper fivers went out of circulation on May 5 last year. On 15 October 2017 a new 12-sided coin replaced the old pound coin. Legal Tender Deadlines. When will the old £10 cease to be legal tender? The Bank of England recently estimated that around £2bn worth of old tenners were still in circulation. Both the £5 and £10 note have been released by polymer versions. But if all that means you've not quite got round to spending any old, paper, £20 notes - there is some good news. This has caused concern for some people, who are worried about their legal tender statusbeing withdrawn. After the deadline, people can exchange old paper notes by posting them or delivering them in person to the Bank of England in central London. The new bank notes follows suit of the old style £5 which went out of circulation in May, and the old £1 coin which is no longer legal tender. Read our full mailing list consent terms here. The old £10 note has been phased out. In recent years, the UK’s seen new pound coins, £5 notes and £10 notes, with further changes to come. You can either do this in person or via post. 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. The old £5 note stopped being legal tender on Friday May 5, 2017 Credit: EBay What happens if you still have old £5 notes and how do you exchange them? As of today, retailers and banks no longer have to accept them as legal tender. Exclusive figures from the Royal Mint for YourMoney.com reveal £131m worth of old pound coins have yet to be returned to the Royal Mint. Paper £10 notes were withdrawn as a legal tender in March 2018 and paper £5 notes were scrapped way back in May 2017. Are you sure you want to delete this comment? In February 2019 we issued new polymer £5 and £10 notes which replace the paper notes of the same denomination. The existing Open Comments threads will continue to exist for those who do not subscribe to Independent Premium. Our paper £10 note was withdrawn from circulation on 1 March 2018. The new notes, which were released into circulation in September 2016 are accepted across the UK but paper notes issued by banks in Scotland and Northern Ireland will also still be legal tender. The new ten pounds notes are plastic and more durable and are pushing the old grubby paper £10 out of the market. The old £10 note will be withdrawn from circulation on March 1, 2018 and they can continue to be used up until this point. spend and save them). However, we give cash for these withdrawn Bank of Scotland banknotes free of charge. New plastic £10 notes depicting Jane Austen were introduced in September 2017. How many old bank notes are still out there? View our online Press Pack. Due to the sheer scale of this comment community, we are not able to give each post the same level of attention, but we have preserved this area in the interests of open debate. Similarly, banks, bureaux de change and other commercial parties can keep recirculating the existing €500 notes. 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