Urgent warning issued to anybody using paper £20 and £50 notes

The public has been urgently warned that they will soon no longer be able to use paper £20 notes.

Next year, the old-style notes will no longer be recognised as legal tender and therefore they will not be able to be used to purchase items.

The paper £20 was replaced by a polymer version featuring artist JMW Turner one in 2020, while the new plastic £50 note contains a portrait of Alan Turing.

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The new versions of the notes are designed to be more durable and less susceptible to fraud.

Currently, there is an estimated £9 billion worth of old-style £20 notes still in circulation - and £15 billion worth of £50 ones.

Here's everything you need to know about the changes, as reported by the Daily Record.

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The new plastic notes are more durable and less susceptible to fraud (Surrey Advertiser)

When will the changes come into effect?

The legal status of paper £20 notes will be revoked on September 30 2022.

What do I do with my paper £20 notes?

It is recommended that those with the paper notes try and use them up before the cut-off date on September 30 2022.

However, even after this, UK bank customers will still be able to deposit the notes into their accounts.

This means that people won't lose their money if they still have the old-style notes.