1k Views. Find out what to do with old five pound notes in our guide below. We’re advising all businesses to take ‘note’, as there’s just a few days left to spend your old ‘tenners’. the question you require a answer to is when do they cease to be legal tender ie not being able to spend in shops. The Bank of England has stated that the familiar £10 note we are accustomed to will go out of circulation in spring 2018. The paper £10 note featuring Charles Darwin was issued on 7 November 2000. New £10 banknote celebrating Jane Austen enters UK circulation. £10 note. RBS/NatWest has said it will continue to accept old £10 notes from its own customers after March 1. A new polymer £50 featuring Alan Turing will be issued next year. All existing polymer banknotes can continue to be used as both versions of the $5, $10, $20, $50 and $100 banknotes will be in circulation for a number of years. The Bank of England has said that unspent, paper, £20 notes are still legal tender. Although our pound is getting weaker in monetary terms, they have been getting stronger against the washing machine since the new plastic notes were released in September this year. You can find our Community Guidelines in full here. Aldi said it will accept payments in old paper £10 notes until Good Friday (March 30), while Morrisons shoppers can use their old tenners until March 16 – two weeks after the Royal Mint's deadline. Find out more about our range of digital services to help you file, or search for company details. so in fact it is not as urgent as you think What will happen to the old tenners after that date? To give an idea of a likely date, the new £5 note was introduced on September 13, 2016 – nearly one year to today’s release – and the old fiver went out of circulation on Friday, May 5 this year. The old note will be withdrawn from circulation in spring 2018. The paper £10 will cease to be legal tender in spring 2018, but the Bank of Yes, you can still use the old £20 notes as they are accepted as legal tender. 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 new polymer £10 banknote was first issued on September 14 2017, to replace the old paper notes, with the new polymer note argued to be stronger, cleaner, safer and harder to counterfeit. Until March 1, the old £10 note will continue to be legal tender so can be spent freely. However, old notes can still be exchanged at the Bank now that this point has passed. However, banks usually allow customers to deposit old notes for some time after that date. These new banknotes also have raised bumps and dots, to help blind and partially-sighted users identify each banknote by touch. The British currency has been given an overhaul recently, with new £1 coins, £5 and £10 notes introduced. But when will the old £10 note expire? For more information on how to get your business ready, you can visit the Bank of England website. The old paper fivers went out of circulation on May 5 last year. The new banknote features author Jane Austen and will show up in people's wallets and purses over the coming days. Any old notes that no longer have legal tender status can be exchanged at the Bank of England itself at any time. Even after then you can still exchange them for new £20 notes. To help us improve GOV.UK, we’d like to know more about your visit today. We use this information to make the website work as well as possible and improve government services. As of today, retailers and banks no longer have to accept them as legal tender. The exact date on which the old notes will expire has not yet been announced. (Image: GETTY) The old-style £10 deadline was March 1, 2018, the Bank of England have confirmed. According to the Bank of England, this means they’re better for the environment, with a lower carbon footprint than the old paper notes. Paper banknotes of £5, £10 and £20, are being gradually replaced by polymer ones, which are more secure and harder to counterfeit. Some banks may allow you to deposit old notes directly into your account. How to get rid of old £20 notes While you don't need to get rid of your old notes just yet, some of you may be thinking ahead. Are you sure you want to mark this comment as inappropriate? When will the old £10 go out of circulation? Some retailers, banks and building societies may choose to accept the old notes after this deadline. All bank notes issued by the Bank of England retain their face value forever. And how long will banks accept paper tenners for? You can still use your paper £20 notes for now. The Bank of England hasn’t confirmed if the £50 note will be replaced. The £10 took slightly less time to … They’re also more resistant to dirt and wear, so last longer. The new note, followed the polymer £5 and £10 notes which came out … The ‘old’ paper £10 note featuring Charles Darwin will be withdrawn on 1 March 2018 as legal tender. Just as the date of the expiry of the old round pound coins came upon us all of a sudden, so to will the expiry of your ragged paper ten pounds notes. When do old pound coins and £10 notes expire - we give you the details about the new note and when you can spend it. An ACBI spokesperson said: "We have set a deadline for using paper £5 and £10 notes as 30 September. What are the Tier 3 rules as London faces new restrictions? Luckily though, old money notes don’t just expire out of the blue. But, they don’t have to. The notes' value will expire on March 1 / PA Archive/PA Images By Martin Coulter 05 … Here is everything you need to know about the new £10 notes and what to do if you still have old ones. The easiest way to manage your information at Companies House, is online. Polymer £20 notes entered circulation in February, replacing the old paper ones. British shoppers have just one week left to spend their old paper £10 notes. The new notes ready to enter circulation. The new note will ultimately replace the paper £20 note, which features the noted economist Adam Smith. Redeeming Old Banknotes. THE old £10 note is about to go out of circulation and Britons are racing to spend their old paper tenners before the official deadline. All bank notes issued by the Bank of England retain their face value forever. Exchanging old notes. Old £5 notes goes out of circulation: Where can you exchange it? Paper £5 notes featuring Elizabeth Fry were withdrawn almost a year earlier in May 2017. This means they will not be accepted as a method of payment in shops, bars or retailers after this date as technically, they no longer have any monetary value. However, old notes can still be spent ahead of the cut-off date or exchanged at the Bank once this point has passed. You’ve accepted all cookies. We issued a new polymer £10 note on 14 September 2017. Counterfeiters do not seem keen on targeting old … Shops will stop accepting notes from the day they officially are withdrawn by the Bank of England. From Thursday March 1, the notes will no longer be accepted in shops, restaurants and other retailers. technically they never expire the bank of england will always change old notes for new even in 100 years from now . The note joins the Churchill £5 and the Austen £10 in the first series of polymer notes. Frozen foods retailer Iceland said it will continue to accept payment in the paper £10 notes until the close of business on Easter Monday, which falls on April 2. You can exchange old Bank of England £5, £10, £20 and £50 notes which have been withdrawn from circulation in person or by post. Even though the new polymer £20 are also now available and can be withdrawn from cash machines, the old, paper £20 notes can still be used alongside the new ones for the time being. All old paper £10 notes must be spent by 1 March 2018. The current £10 note’s picture of Charles Darwin is being replaced with that of Pride and Prejudice author Jane Austen. By . The new-design polymer tenners, which have raised dots to help blind and partially sighted people, follows the introduction of the new £5 notes one year ago. According to The Mirror, the old £20 notes are still legal tender and there's currently no rush to spend them either. This is what you need to know about when the old notes will expire. All old paper £10 notes must be spent by 1 March 2018. Which new tenners are worth a lot of money? Time is ticking for the old paper £10 banknote. We will announce the withdrawal date after we have issued our new polymer £20 note. What to do with old £10 notes you find and the shops that still take them even though they're not legal tender any more Iceland says you're fine … If so, you have until Thursday to get rid of them because after March 1st, they will no longer be considered “legal tender”. We’ll give you 6 months’ notice of the date you’ll no longer be able to use the paper £20. The new tenner, launched in September last year, is the first Bank of England note with a … THE old £10 note is about to go out of circulation and Britons are racing to spend their old paper tenners before the official deadline. Martin Coulter. Are you sure you want to delete this comment? Can I still use the old £10 notes? All content is available under the Open Government Licence v3.0, except where otherwise stated, Coronavirus (COVID-19): guidance and support, Transparency and freedom of information releases. It will take only 2 minutes to fill in. And … This is when the Bank of Scotland and Clydesdale £20 polymer notes are launched - and when the old notes expire By Alex Nelson Thursday, 20th February 2020, 12:50 pm … All previous issues of Australian banknotes retain their legal tender status. We use cookies to collect information about how you use GOV.UK. Time is ticking for the old paper £10 banknote. But when will the old £10 note expire? But if all that means you've not quite got round to spending any old, paper, £20 notes - there is some good news. Two weeks ago, estimates from the Bank of … 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. On 20 February 2020 we issued a new polymer £20 note. Old £10 notes will expire on 1 March 2018, says Bank of England This article is more than 2 years old. The £5 notes were withdrawn in May 2017 and the £10 notes in March 2018, since when they have not been a legally accepted means of payment. Your own bank or the Post Office may exchange withdrawn Bank of England banknotes. Businesses take note: the old £10 expires 1 March. An ACBI spokesperson said: "We have set a deadline for using paper £5 and £10 notes as 30 September. During a period of dual circulation, both the old-fashioned and the new tenners will be accepted by retailers and businesses. They can still be exchanged at … Evening Standard would like to keep you informed about offers, events and updates by email, please tick the box if you would like to be contacted. No date has yet been set, but the Bank of England said people will be told at least three months before expiration. Figures from the Bank of England suggest there’s still £2.2 billion of old paper £10 notes in circulation. I agree Our site saves small pieces of text information, called “cookies” on your device. This is what you need to know about when the old notes will expire. 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