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Daily Record
Daily Record
World
James Rodger & Chloe Burrell

Urgent warning issued to anybody buying items with paper £20 notes

An urgent warning has been issued to anybody who is purchasing items with paper £20 notes.

If you use the £20 or £50 cash notes to purchase items, then be warned: in a year, the legal tender status will be withdrawn and you will no longer be able to use them.

The paper twenty was replaced with a brand new polymer JMW Turner one, while the £50 - made from the same material - features Alan Turing, reports Birmingham Live.

There are approximately £9 billion worth of paper £20 and £15 billion worth of paper £50 notes still in circulation.

The Bank of England are set to withdraw the legal tender status of the paper £20 and £50 notes after September 30 2022.

After September 30 2022, people with a UK bank account will still be able to deposit the paper notes into their account.

The Bank of England will continue to exchange all the paper notes.

The Bank of England's chief cashier, Sarah John, said: "In recent years we have been changing our banknotes from paper to polymer because this makes them more difficult to counterfeit, and means they are more durable.

"The polymer £20 featuring the artist JMW Turner, and the polymer £50 featuring the scientist Alan Turing are now in wide circulation, and we are in the process of withdrawing their paper equivalents."

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