New £20 notes - What you need to know (BSL info)
Updated: Mar 18
The new Bank of England £20 note featuring artist JMW Turner entered circulation on 20 February 2020. The polymer note replaces the old paper £20 note. This note will be more secure against fraud and counterfeiting. These notes will be harder to damage than the old note! Polymer is a strong material – more sustantial than paper!
How can you exchange your £20 notes?
The simplest and quickest way to exchange old notes is to deposit them with your bank. Many banks will accept withdrawn/old notes as deposits from customers, up to 6 months after the withdrawal date.
The Post Office may also accept withdrawn notes as a deposit into any bank account you can access at the Post Office.
Also, you can always exchange withdrawn notes with the Bank of England.
Can you still use your £20 notes?
You can still use the old £20 notes. The Bank of England said old, paper notes, will continue to be valid until at least August 2020.
"Paper £20 notes can continue to be used as normal and the Bank will give 6 months' notice ahead of legal tender status being withdrawn," a statement said. Until then, keep an eye out for a new one!.
What if you find an old £20 after they're withdrawn?
Even after the notes stop being legal tender, banknotes officially hold their face value "for all time". So, you'll be able to exchange your old paper twenties with the Bank of England in London, in person or by post (at your own risk).
We hope this information and the BSL video will be useful.
Share with those who might be concerned about their old notes.
Further info at The Bank of England website: :