It will be at the discretion of retailers and service providers as to whether to accept them after this, but they don't have to. We use the Halifax/BOS. But the bank warns that waiting times can be over an hour. "The Sun", "Sun", "Sun Online" are registered trademarks or trade names of News Group Newspapers Limited. We use your sign-up to provide content in the ways you've consented to and improve our understanding of you. The Post Office will deposit old Scottish paper notes into your bank account, which you can then withdraw. Scottish notes aren't legal tender in England or Scotland. oh, so not so hard to get hold of this funny english money!!!! The banks will also exchange all Scottish-issued notes for their own customers, while they'll exchange their own paper 5 and 10 notes from non-customers up to the value of 250. You will be directed to the Halifax website . Necessary cookies enable core functionality on our website such as security, network management, and accessibility. This was the same date that the old 50 note expired. So here's what to do with these old notes: The latest notes to be withdrawn from use are paper 20 and 50 notes, meaning people could be refused from using them from 1 October. The reason for this is purely because Scottish notes are rarely seen in some areas of England, meaning the person receiving the note is unsure of its validity. We personally wouldnt expect any coins from before the decimalisation of the UKs currency system, such as shillings and florins, to be accepted but recently withdrawn coins such as the round pound should be no problem. Scottish banknotes are unusual, first because they are issued by retail banks, not government central banks, and second, because they are technically not legal tender anywhere in the United Kingdom - not even in Scotland, where in law no banknotes - even those issued by the Bank of England - are defined as legal tender. Heres how it works with some of the major banks and building societies we contacted: Bank of Scotland says customers can exchange or deposit 20 and 50 paper Bank of England or Bank of Scotland bank notes into Lloyds Bank, Halifax or Bank of Scotland accounts. You may need an ID when exchanging notes. Does it have to be BoE notes? This ensures that people with genuine banknotes issued by the six banks receive a level of protection similar to people who have genuine Bank of England banknotes. Please enter a search term. you should try the halifax app for the next one, you get cleared funds the next day The app for paying in cheques only works if the cheque is drawn on a bank that also uses the updated cheque clearing system. Santander also said it will allow customers to deposit old 10 notes into their accounts after March 1, as did Barclays, Lloyds Bank, Halifax, Bank of Scotland, HSBC and Nationwide Building . Does it have to be BoE notes? You may disable these by changing your browser settings, but this may affect how the website functions. To use our mobile site, please enable JavaScript. Innes Wight, Cambelltown, Scotland Dave from Sutton actually has it the wrong way. Whether or not notes have legal tender status, their acceptability as a means of payment is essentially a matter for . To exchange your banknotes in person you can take them to the following address: Bank of England Threadneedle Street London EC2R 8AH. Even though you cant spend these old paper notes, its worth checking old bags, wallets and even the kids money boxes as you can still exchange old 20 and 50 notes. Dalaman to icmeler. taxi or organised transfer. The further back you go in date, the more youre likely to fetch. It is very rare for the Bank of England to make printing errors although there are a few examples in recent times. Before sending, you need to fill out a form and send proof of your address with a scan of your photo ID. It also says you can send notes to it by post, but at your own risk. If there are not any, or if you do not feel able to do so, you can contact us on +44 (0)20 3461 8703 during office hours. Unfortunately, the Bank of England does not accept old coins and so these must be exchanged another way. Wed also like to use some non-essential cookies (including third-party cookies) to help us improve the site. We also may change the frequency you receive our emails from us in order to keep you up to date and give you the best relevant information possible. Martin Kearsley, banking services director at the Post Office - which has 11,600 branches across the UK, has said: "Thanks to an agreement with all UK high street banks, everyone can deposit cash and cheques, including any old notes, into their usual high street bank account at their local Post Office branch.". Does anyone know for definite ifthe turks still don't accept scottish tenners for the visa. If your bank doesn't accept old notes or you can't access it via a post office, don't worry. Paper 10 notes were withdrawn as a legal tender last March and paper 5 notes were scrapped in May 2017. Did not even know they existed but a quick googley shows they do. This should be done by recorded or special delivery - however once again it warns that this too could mean, a wait time for your payment may be in excess of 30 days. However the lady at the counter made an exception because I was also depositing a large amount of notes. View our online Press Pack. This means that cafes, bars, shops and restaurants will no longer accept the paper 20 note. . Banks and building societies happy to exchange the old notes. For further details of our complaints policy and to make a complaint please click this link: thesun.co.uk/editorial-complaints/, MoneySavingExpert reveals there are 222million paper notes out there that can no longer be used, First look at new Gruffalo 50p coin now on sale with prices starting from 10 each, paper 5 notes were scrapped way back in May 2017, polymer 20 note featuring JM Turner will be issued in 2020, slippery and "easier to lose than old ones", Royal Mint is "to release new Beatrix Potter 50p coins including Peter Rabbit", Independent Press Standards Organisation (IPSO). Would you like to give more detail? The Bank of England says that the easiest way to exchange notes is by depositing them with your UK bank account, if you have one. We do this by collecting regular information and visiting the places where the assets are stored to count them and check they are held securely. The polymer 5 note, meanwhile, was issued in September 2016 and features Sir Winston Churchill. All rights reserved. Does it have to be BoE notes? Upload a picture of your coin and our team of experts will evaluate the coins condition, rarity, and historical value to give you an accurate market price estimate. cheers rwb, will start looking out for a few. Cats, cheese and travel areSues passions away from her desk! Email us at money@the-sun.co.uk, I worked in Wetherspoons for 5 years - here's the dishes you should avoid, Iconic dessert making a comeback in cost of living crisis - it only costs 2, Aldi shoppers rush to buy heating gadget that warms up your room 'in minutes', High street giant to close depots putting 1,400 jobs at risk as it shuts shops, News Group Newspapers Limited in England No. Always remember anyone can post on the MSE forums, so it can be very different from our opinion. If you still have a paper version of the 50 and 20 note in your wallet, there's still time to swap it for a polymer version. The counter is located at the Bank of England, Threadneedle Street, London, EC2R 8AH and is open Monday to Friday from 9am to 4pm. The Bank of England will honour every banknote that has ever been issued by them, regardless of how long ago it ceased to be legal tender. We look at Taylor Wimpey, Persimmon and Barratt Developments. Do note, while we always aim to give you accurate product info at the point of publication, unfortunately price and terms of products and deals can always be changed by the provider afterwards, so double check first. Press Spacebar or Enter to select, This page was last updated 17 January 2023. There's one way to guarantee to get your old 10 note swapped head to the Bank of England itself. The final date you can use paper 50 notes is September 30 next year - the same goes for paper 20 notes. Paper 10 notes were withdrawn as a legal tender in March 2018 and paper 5 notes were scrapped way back in May 2017. Customers of Lloyds Banking Group, which covers Bank of Scotland, Halifax, and Lloyds, can deposit old notes worth more than 20. If youre looking to exchange coins in particular for their equivalent pound value, this is likely to be your best shot. Regardless of their age, there are ways to get some money back for them but we encourage everyone who can to consider donating their old currency to charity where possible. Halifax says customers can exchange or deposit 20 and 50 paper Bank of England or Bank of Scotland bank notes into Lloyds Bank, Halifax or Bank of Scotland accounts. We should make it clear that high street bank branches are not obligated to accept old notes or coins and they have every right to turn you away if it is against their policy. The difference is that some English traders (especially the further south you go) will not accept Scottish banknotes. There's no exchange rate - in theory, English and Scottish notes have the same value, but it doesn't seem that way when you try and spend the Scottish ones in the heart of London Conversly, we visit Scotland frequently and you should see the look we sometimes get when we present an English 10 note! To inquire about a licence to reproduce material, visit our Syndication site. The Money Edit is part of Future plc, an international media group and leading digital publisher. If youre looking to get rid of withdrawn coins and still get something in return, this is undoubtedly the method for you. I have certainly done Bank of Scotland business at Halifax branches and never had a problem. If youre sending less than 50 to them, you can expect to receive new notes in the post in exchange. We also understand that the Post Office accepts withdrawn notes as payment for goods and services. But do be aware, the Bank of England may have long queues and that after midday you may not be able to be served if its reached capacity. We have a published approach to regulating Scottish and Northern Ireland banknotes. Scottish philosopher and economist Adam Smith features on the paper 20, and Matthew Boulton and James Wyatt appear on the old 50 note. But, according to the Bank of England, there is around 6bn worth of 20 paper notes and over 8bn worth of paper 50 notes in circulation thats around 300 million individual 20 notes and 160 million 50 notes that havent been used before the notes were withdrawn from circulation. The new 10 note - everything you need to know, Iceland says you're fine for another month, You've never seen a tenner used quite like this. Get our money-saving tips and top offers direct to your inbox with the Mirror Money newsletter. All the Post Office branches that will accept the old paper note are listed on the Bank of England website (opens in new tab) or you can check the Post Office website (opens in new tab). Some folks will tell you that they'll accept Scottish notes but do you really want to take that chance? There is no time limit. Debit cards, cheques and contactless aren't legal tender anywhere. HSBC says customers with accounts can pay in any old 20 and 50 in and no time limit for this. How to exchange old bank notes at the Bank of England, How to exchange old bank notes at the Post Office. This means that we may include adverts from us and third parties based on our knowledge of you. Can Bank of Scotland use Halifax? We use the Halifax/BOS. The new 5 and 10 notes are slippery and "easier to lose than old ones", shoppers say. For more information on how these cookies work please see our Cookie policy. "So make sure you check behind the sofa, empty old coat pockets and go through old wallets to see if any of it's yours.". TSB says old 20 and 50 paper notes are still accepted over the counter in branches to deposit in TSB accounts. You can find full details on the Bank of England website here. Flat fees vs percentage fees - are you paying too much for your investments? Unique serial numbers are the easiest to find with collectors particularly favouring lower serial numbers or those with sequences such as 888888. The Bank of England counter is open from 9.30am 3pm from Monday to Friday. Subscribe to MoneyWeek now and get your first six magazine issues absolutely FREE, Elizabeth Fry 5 note ceased to be legal tender on 5 May 2017, Adam Smith 20 note ceased to be legal tender on 30 September 2022, Charles Darwin 10 note ceased to be legal tender on 1 March 2018, Boulton & Watt 50 note ceased to be legal tender on 30 September 2022. But can you still exchange them, will banks - or anyone else - accept them and what should you do with any you find? If you want the equivalent cash you can then withdraw it from your account. Visit our Syndication site any old 20 and 50 paper notes are still accepted over the counter in branches deposit! A form and send proof of your address with a scan of your photo ID Ireland... Their acceptability as a legal tender last March and paper 5 notes were withdrawn as a legal tender status their. A post Office will deposit old Scottish paper notes are still accepted over the counter made an exception because was! Bank of England to make printing errors although there are a few in! This is undoubtedly the method for you about a licence to reproduce material, visit our Syndication site Scottish. 20 and 50 paper notes are slippery and `` easier to lose than old ''... 17 January 2023 the Money Edit is part of Future plc, an international media Group and digital. 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