How long can I use old 50 pound notes?

How long can I use old 50 pound notes?

30 September 2022
Exchanging old notes 30 September 2022 is the last day you can use our paper £20 and £50 notes. After 30 September 2022, many banks will accept withdrawn notes as deposits from customers. The Post Office may also accept withdrawn notes as a deposit into any bank account you can access at the Post Office.

Is it illegal to not accept 50 pound notes?

‘In England and Wales, legal tender is Royal Mint coins and Bank of England notes. If you hand over a £50 note to pay for a banana in your local grocery store, the staff are within their rights to choose not to accept it. ‘Likewise for all other banknotes – it’s a matter of discretion.

What bank notes are being withdrawn?

The old paper Bank of England £5 and £10 notes have been withdrawn and cease to be legal tender. However, you can exchange them at the Bank of England. New polymer £20 notes were issued on 20 February 2020 and polymer £50 notes were issued on 23 June 2021.

Do supermarkets accept 50 pound notes?

Both the old paper £20 and £50 banknotes will expire on Wednesday, September 30, 2022. This means this is the absolute last day you can spend them in stores – so you have just over one year to use them.

Are old 50 pound notes worth anything?

AA notes are the most valuable, but anything with an A in it could be worth more than the value of the note itself. For example, we’ve recently seen AA £50 notes on eBay go for £78. But other notes with early serial numbers have gone for much higher. Back in 2017, an AA01 £5 note sold on eBay for over £60,000.

Are 50 notes going out of circulation?

The Bank of England have confirmed that old £50 notes expire on Wednesday 30 September 2022. This will officially be the last day you can use your old £50 notes in shops, pubs and restaurants.

Can places refuse 50 notes?

The quick answer is yes, they can refuse to accept the notes. And not that are not legal tender, but the definition of the term can be interpreted differently. On the Bank of England’s web site they state, “What is classed as legal tender varies throughout the UK.”

Are 50 notes changing?

The Bank of England have confirmed that old £50 notes expire on Wednesday 30 September 2022. This will officially be the last day you can use your old £50 notes in shops, pubs and restaurants. This expiry date also applies to old £20 notes which were replaced with the new polymer note in 2020.

Is my 50 note real?

There is a metallic thread embedded in every banknote. If you hold the new-style 50 pounds note up to the light the metallic thread will appear as a continuous dark line. Hold the banknote up to the light and you will see the image of the Queen’s portrait together with a bright 50 and Pound symbol.

Are 50 notes valuable?

A NEW plastic £50 note featuring the infamous WWII code-breaker Alan Turing on it has been launched into circulation today. But a few of these new notes could be worth far more than their face value – and could be sold for thousands of pounds on eBay.

Can I still use an old ten pound note?

Banks don’t legally have to accept old paper notes and coins once they’ve been withdrawn from circulation. However, some may continue to allow you to swap them while others may let you deposit old notes and coins into your account.

When did the Bank of England withdraw the £50 note?

Tomorrow is the day that the Bank of England will withdraw the Houblon £50 note from circulation. The note, featuring the portrait of Sir John Houblon (shown below) has been in circulation since 1994 and was released to celebrate the 300th anniversary of the Bank of England.

When is last day to deposit £50 note in post office?

, the digital arts and culture platform. 30 September 2022 is the last day you can use our paper £20 and £50 notes. After 30 September 2022, many banks will accept withdrawn notes as deposits from customers. The Post Office may also accept withdrawn notes as a deposit into any bank account you can access at the Post Office.

How can you tell the difference between a 50 and a 50 pound note?

Look at the metallic image over the main window. Check the foil is gold and green on the front of the note and silver on the back. Within the two gold foil squares on the front of the note, the image changes between ’50’ and a ‘£’ symbol when the note is tilted. Look for a second, smaller window in the bottom corner of the note.

When do Houblon £50 notes go out of circulation?

From May 2014 onwards, shops across the UK are unlikely to accept the old notes as payment and most UK banks will only exchange Houblon £50 notes for members of the public until 30 October 2014. Here is some advice from the Bank of England on what to do with your Houblon £50 notes: