The Bank of England has called on all Britons to spend or exchange all their £20 and £50 notes by September 30. The United Kingdom’s central bank plans to replace the old notes with new notes made of polymer.
An interesting detail about the recovery campaign is that the Bank of England is specifically urging UK customers and businesses to be extra vigilant with all £20 and £50 notes they receive until September 30. Presumably there is fear of influx of black and fake money. After all, criminal money is also declared invalid after the deadline.
Holders of £20 and £50 notes are invited to spend their notes or deposit them into their checking account. Exchanged notes at the Bank of England will be exchanged for new ones. The new notes will feature the faces of JMW Tuner (painter) and Alan Turning (mathematician).
After September 30, the old notes will lose their legal tender status. By the way, September 30 is not a hard deadline. Britons will also be able to deposit their £20 and £50 notes into their bank after September 30.
