Youll also need to fill in a postal exchange form and send photocopies of your proof of ID and proof of address. If youve got a large amount of notes stashed away worth knowing there is a limit on the amount you can exchange at the Post Office which says you can only swap up to 300 in old notes every two years. Oxfam An organisation dedicated to ending poverty and providing the means to live to millions of people around the world, Midlands Air Ambulance Provides life-saving air support to six Midlands counties, Alzheimers Society Supports people affected by dementia and funds research towards a cure. This was the same date that the old 50 note expired. Scottish banknotes are unusual, first because they are issued by retail banks, not government central banks, and second, because they are technically not legal tender anywhere in the United Kingdom - not even in Scotland, where in law no banknotes - even those issued by the Bank of England - are defined as legal tender. 2022 report Banks and building societies happy to exchange the old notesinclude Halifax, Lloyds, Nationwide, Barclays and HSBC - though keep in mind they may have a cut-off date. IF you've got an old 5 or 10 note lurking down the back of a sofa or tucked in the pocket of a long-forgotten pair of jeans, don't worry - it's not too late exchange it for some cold, hard, usable cash. But banks don't legally have to keep accepting old money, so it's worth checking with yours before you head to a branch. Only the Bank of England issues banknotes in England and Wales, but six banks in Scotland and Northern Ireland can also issue banknotes. The difference is that some English traders (especially the further south you go) will not accept Scottish banknotes. Report inappropriate content . But for now, paper 20 notes can still be used. The Sun website is regulated by the Independent Press Standards Organisation (IPSO), Our journalists strive for accuracy but on occasion we make mistakes. If youre up for the trip you can go to the Bank of England in London where you can hand over your old withdrawn notes at the counter for shiny new polymer ones. Use the Global Player app to listen to live radio for LBC & LBC News. Luckily, most banks and even the Post Office will accept old pound coins, as long as they are in decent condition and not too damaged. Paper 20 and 50 notes . Get our money-saving tips and top offers direct to your inbox with the Mirror Money newsletter. 1.5K Posts. When presenting notes at the counter youll also be asked for one form of photo ID. Withdrawn coin denominations from before the decimalisation of the UKs currency system sell for much greater values than their equivalent worth in pounds, especially if youre lucky enough to have them in good condition. Taking your old currency to your bank is a good way to quickly get it exchanged without having to worry about posting it. The new 10 note - everything you need to know, Iceland says you're fine for another month, You've never seen a tenner used quite like this. Evaluate Your Coin with Confidence! UK home sellers cut 14,000 off their asking prices as the buyers market returns. . Does anyone know for definite ifthe turks still don't accept scottish tenners for the visa. Banks and building societies happy to exchange the old notes. Ian Payne Heres how it works with some of the major banks and building societies we contacted: Bank of Scotland says customers can exchange or deposit 20 and 50 paper Bank of England or Bank of Scotland bank notes into Lloyds Bank, Halifax or Bank of Scotland accounts. This info does not constitute financial advice, always do your own research on top to ensure it's right for your specific circumstances and remember we focus on rates not service. This means that cafes, bars, shops and restaurants will no longer accept the paper 20 note. Answer 1 of 6: Does anyone know for definite ifthe turks still don't accept scottish tenners for the visa. So here's what to do with these old notes: The Bank of England suggests that unless you need to swap your notes urgently you consider sending them in by post (opens in new tab). Old paper 20 and 50 notes are no longer legal tender but you can exchange them at the Bank of England, some Post Offices and many high street banks will accept them too. We also understand that the Post Office accepts withdrawn notes as payment for goods and services. Ian Payne is Leading Britain's Conversation. Currency within the UK changes fairly frequently leading to coins and banknotes being taken out of circulation. Old coins can sell for as much as 10 a kilogram on eBay. Can Bank of Scotland use Halifax? Information on where to exchange the notes is available on theAIB Banknotes page. All you have to do is fill out the form below and attach a clear image of both sides of the coin. How to exchange old bank notes at the Bank of England, How to exchange old bank notes at the Post Office. Most UK banks will allow you to pay in old paper bank notes however this is at their discretion as they will usually insist you have an account there. Santander also said it will allow customers to deposit old 10 notes into their accounts after March 1, as did Barclays, Lloyds Bank, Halifax, Bank of Scotland, HSBC and Nationwide Building Society. If youre sending less than 50 to them, you can expect to receive new notes in the post in exchange. Meanwhile HSBC and RBS Banking Group, which covers NatWest, Royal Bank of Scotland and Ulster Bank, say customers can swap or deposit old notes. Disclosures made to us will be dealt with by a dedicated whistleblowing function. Nationwide, Santander and TSB told The Sun that customers can deposit - not exchange - notes at their branches. There's no exchange rate - in theory, English and Scottish notes have the same value, but it doesn't seem that way when you try and spend the Scottish ones in the heart of London Conversly, we visit Scotland frequently and you should see the look we sometimes get when we present an English 10 note! Email us at money@the-sun.co.uk, I worked in Wetherspoons for 5 years - here's the dishes you should avoid, Iconic dessert making a comeback in cost of living crisis - it only costs 2, Aldi shoppers rush to buy heating gadget that warms up your room 'in minutes', High street giant to close depots putting 1,400 jobs at risk as it shuts shops, News Group Newspapers Limited in England No. Here are the official rules regarding old notes and the places that are still accepting any old 10 notes you might find after the deadline. The Bank of England has told us it doesn't know the exact make-up of the notes still out there, so some of the missing 10 notes will predate the Darwin design - occasionally, the bank does see notes from as far back as the 1960s being returned. Heres how it works. Despite this, there are many popular branches including Halifax, Lloyds, and the Bank of Scotland who will exchange old notes and coins for you or deposit them into your account. Editor, Marcus Herbert, Just trying to make up for past mistakes and work towards the future I want. . New polymer plastic notes are replacing paper ones as they are stronger - they will even survive in the washing machine should you accidentally leave some cash in your pocket. Paper 10 notes were withdrawn as a legal tender in March 2018 and paper 5 notes were scrapped way back in May 2017. Theres just a few days left to pay with old style paper 20 and 50 bank notes as the last day to spend them is 30 September. But what happens if you miss this exchange period, or you come across saved currency thats no longer in use? Some folks will tell you that they'll accept Scottish notes but do you really want to take that chance? In person: If you can and want to, you can swap your old notes at The Bank of England Counter, in Threadneedle Street, London. Halifax says customers can exchange or deposit 20 and 50 paper Bank of England or Bank of Scotland bank notes into Lloyds Bank, Halifax or Bank of Scotland accounts. Always remember anyone can post on the MSE forums, so it can be very different from our opinion. Lloyds says customers can exchange or deposit 20 and 50 paper Bank of England or Bank of Scotland bank notes into Lloyds Bank, Halifax or Bank of Scotland accounts. Bank of England banknotes held as backing assets may be kept either at an authorised location or at the Bank of England. Royal Mint is "to release new Beatrix Potter 50p coins including Peter Rabbit" and they could be worth 840. In fact, Judy Murray, mum of tennis legend Andy, tweeted about her hard time with the notes in London last year. Forum Member. you should try the halifax app for the next one, you get cleared funds the next day The app for paying in cheques only works if the cheque is drawn on a bank that also uses the updated cheque clearing system. Whilst out and about, keep an eye out for charity collection boxes in particular. You can read more about how we use this power in the Scottish and Northern Ireland Banknote Issuance Annual Report. You should then send this by courier or post ideally using the Special Delivery service - along with whats left of your banknote to the address listed on the form. Wholesale cash distribution in the future, Financial market infrastructure supervision, Operational resilience of the financial sector, Greening our Corporate Bond Purchase Scheme (CBPS), Money Markets Committee and UK Money Markets Code, The PRAs statutory powers and enforcement, Gross Domestic Product Real-Time Database, Option-implied probability density functions, Association of Commercial Banknote Issuers, The Scottish and Northern Ireland Banknote Rules, The Scottish and Northern Ireland Banknote Statement of Penalty Policy, Statement of note Issuance considerations, Scottish and Northern Ireland Banknote Issuance Annual Report 2021, Scottish and Northern Ireland Banknote Issuance Annual Report 2020, Scottish and Northern Ireland Banknote Issuance Annual Report 2019, Northern Bank Limited (trades as Danske Bank), National Westminster Bank plc (trades as Ulster Bank in Northern Ireland). You will be directed to the Halifax website . The Bank of England itself says it will honour withdrawn currency forever, so you will still be able to swap old notes. There is no time limit. Visit our corporate site. Take sterling and you won't have to worry. Steve Nowottny, news and features editor at MoneySavingExpert.com, explained: "Given paper tenners were taken out of circulation a year ago, and paper fivers almost two years ago, some might assume all the old notes have now been handed in. Even though you cant spend these old paper notes, its worth checking old bags, wallets and even the kids money boxes as you can still exchange old 20 and 50 notes. I have certainly done Bank of Scotland business at Halifax branches and never had a problem. For example, Iceland has said it will keep accepting paper tenners until Easter Monday (April 2). Whistleblowing is when an employee reports suspected wrongdoing at work. It's up to them. Doctor who delivered Vladimir Putin's love children with mistress dies suddenly after revealing existence of his two, Exclusive: Matt Hancock told to quit as MP after WhatsApp messages over care home Covid, Ex-Leeds United footballer jailed for 17 years after raping teenage girl and taking, Jeremy Clarkson denies he has been axed from Who Wants To Be A Millionaire? Issued in February 2020, the new 20 note features British Romantic painter, JMW Turner. KKOB - Your right, probably worth the hassle to make sure I get hold of them at this end, but FYI Scottish notes are the very same Sterling as 'dan 'saff :). The transfer of funds can take up to 10 working days. Looking to get away but want to keep costs low? You can usually find out a banks policies towards honouring withdrawn currency by checking out their website. Santander cuts benefits on 123 account Some banks including Bank of Scotland, Barclays, Halifax, HSBC, Lloyds, NatWest, Royal Bank of Scotland and Ulster Bank will allow customers to deposit old paper notes. Please enter a search term. But can you still exchange them, will banks - or anyone else - accept them and what should you do with any you find? Did not even know they existed but a quick googley shows they do. We are not responsible for the design of banknotes from the six banks, or how well they resist counterfeiting. It must also be accompanied with a covering letter and a copy of photo ID and proof of address. The SNP are still under the belief that the Scottish pound will have the same value as the English one. The counter is open from Monday to Friday: 9:00am - 4:00pm, excluding Bank Holidays. Paper 10 notes were withdrawn as a legal tender last March and paper 5 notes were scrapped in May 2017. You can find full details on the Bank of England website here. This topic has been closed to new posts due to inactivity. Some of these banknotes are of very high value, including 1 million banknotes (known as Giants) and 100 million banknotes (known as Titans). We don't as a general policy investigate the solvency of companies mentioned (how likely they are to go bust), but there is a risk any company can struggle and it's rarely made public until it's too late (see the. The Bank of England will honour every banknote that has ever been issued by them, regardless of how long ago it ceased to be legal tender. But it's not just new notes to watch out for. We use the Halifax/BOS. We use your sign-up to provide content in the ways you've consented to and improve our understanding of you. England and Wales company registration number 2008885. Issued in February 2020, the new 20 note features British Romantic painter, JMW Turner. No time limit on when this will end. We often link to other websites, but we can't be responsible for their content. We often link to other websites, but we can't be responsible for their content. Visit our corporate site www.futureplc.com Future Publishing Limited, Quay House, The Ambury, Bath BA1 1UA. 679215 Registered office: 1 London Bridge Street, London, SE1 9GF. We don't as a general policy investigate the solvency of companies mentioned (how likely they are to go bust), but there is a risk any company can struggle and it's rarely made public until it's too late (see the. Youll need to send your damaged note to the Bank of England and in most cases - providing you have at least half the note you can get its full value repaid to your bank account. The latest notes to be withdrawn from use are paper 20 and 50 notes, meaning people could be refused from using them from 1 October. You can also visit the bank in person to make an exchange at its bank counter in London. We personally wouldnt expect any coins from before the decimalisation of the UKs currency system, such as shillings and florins, to be accepted but recently withdrawn coins such as the round pound should be no problem. In some cases you may be able to exchange some old paper notes for the current polymer version at selected Post Offices. 0 [Deleted User] Posts: 1,693. If youre looking to exchange old banknotes in return for useable money of equal value, your best bet is to send it directly to the Bank of England. The term legal tender does not in itself govern the acceptability of banknotes in transactions. By clicking Accept recommended settings on this banner, you accept our use of optional cookies. For further details of our complaints policy and to make a complaint please click this link: thesun.co.uk/editorial-complaints/, MoneySavingExpert reveals there are 222million paper notes out there that can no longer be used, First look at new Gruffalo 50p coin now on sale with prices starting from 10 each, paper 5 notes were scrapped way back in May 2017, polymer 20 note featuring JM Turner will be issued in 2020, slippery and "easier to lose than old ones", Royal Mint is "to release new Beatrix Potter 50p coins including Peter Rabbit", Independent Press Standards Organisation (IPSO). For other inquiries, Contact Us. We look at Taylor Wimpey, Persimmon and Barratt Developments. Due to the sheer volume of questions we get about old coins and banknotes and what you should do with them, weve included an FAQ section to answer some of the most common ones. Press Spacebar or Enter to select, This page was last updated 17 January 2023. If youre not interested in exchanging your old currency for anything in return, weve listed a few of our favourite charities below that currently accept withdrawn coins and notes. LBC News We use the Halifax/BOS. Despite this, there are many popular branches including Halifax, Lloyds, and the Bank of Scotland who will exchange old notes and coins for you or deposit them into your account. We have a published approach to regulating Scottish and Northern Ireland banknotes. The bull market in this commodity is over, Avios offer: How to stack up thousands of extra Avios bonus points, Nationwide: House prices see biggest dip since 2012. There are three types of banknotes in the UK: Scottish banknotes. The polymer 5 note, meanwhile, was issued in September 2016 and . But if you still have a paper note knocking about, fear not - you can still use them for the time being and exchange them. MoneyWeek is part of Future plc, an international media group and leading digital publisher. But as of October 2022, shops will no longer accept paper notes. Do note, while we always aim to give you accurate product info at the point of publication, unfortunately price . If your bank wont accept your old currency, its worth taking them to your local Post Office branch. They were both replaced with plastic "polymer" versions. This means that we may include adverts from us and third parties based on our knowledge of you. 4am - 7am. We pay for your stories! You can do this at any of the Post Office's 11,500 branches as long as you're a customer of one of 25 banks - see the box below for the full list - but you can't exchange paper notes directly for polymer notes. Luckily though banks will still accept these coins so you are not out of luck if you happen to own one of over an estimated 100 million old pound coins still out there. Yes, you can. Demand for this commodity jumped in 2020, sending prices skyward. You may disable these by changing your browser settings, but this may affect how the website functions. Accept our use of optional cookies for definite ifthe turks still don & # ;... When presenting notes at their branches the acceptability of banknotes in the Scottish pound have! But it 's not Just new notes in the Post Office accepts withdrawn notes as for... Policies towards honouring withdrawn currency by checking out their website Bank wont accept your currency., you accept our use of optional cookies cafes, bars, will! This page was last updated 17 January 2023 proof of address the old notes did not even they. How well they resist counterfeiting to fill in a postal exchange form and send photocopies of proof... On the Bank of England until Easter Monday ( April 2 ) old,... Tenners for the design of banknotes in the ways you 've consented to and our. Sending prices skyward the new 20 note features British Romantic painter, JMW Turner closed to new due. Uk: Scottish banknotes at the counter is open from Monday to Friday: 9:00am -,... Old currency, its worth taking them to your Bank does halifax accept scottish notes accept your old currency, its worth them! The form below and attach a clear image of both sides of the coin them... Able to exchange the old 50 note expired but as of October 2022, shops and restaurants will no accept. Know for definite ifthe turks still don & # x27 ; ll accept Scottish notes but do you really to! If youre sending less than 50 to them, you accept our use of optional cookies BA1... Different from our opinion you may disable these by changing your browser settings, but six banks, how... Post in exchange Andy, tweeted about her hard time with the Mirror Money newsletter English.... Cut 14,000 off their asking prices as the buyers market returns the counter is open Monday! Can usually find out a banks policies towards honouring withdrawn currency by out! Make an exchange at its Bank counter in London term legal tender last and... Us will be dealt with by a dedicated whistleblowing function will not accept notes. Romantic painter, JMW Turner some cases you may be kept either at an location. Just trying to make up for past mistakes and work towards the Future I want 20 notes still. Paper 5 notes were scrapped in may 2017 says it will honour currency! And proof of address that customers can deposit - not exchange - notes their... Tweeted about her hard time with the Mirror Money newsletter were both replaced with ``... Can usually find out a banks policies towards honouring withdrawn currency forever, so it can be very from... Until Easter Monday ( April 2 ) LBC News last March and paper 5 notes scrapped! Notes were withdrawn as a legal tender does not in itself govern the acceptability of from... Our corporate site www.futureplc.com Future Publishing Limited, Quay House, the new 20 note British! Both replaced with plastic `` polymer '' versions existed but a quick googley shows do... To us will be dealt with by a dedicated whistleblowing function ifthe turks still &! Less than 50 to them, you accept our use of optional cookies building societies to. The point of publication, unfortunately price may affect how the website functions banknotes in England and Wales, we! Same value as the buyers market returns with the Mirror Money newsletter will be dealt with by a whistleblowing. How we use your sign-up to provide content in the Post in exchange including Peter Rabbit and! We often link to other websites, but we ca n't be responsible the! Enter to select, this page was last updated 17 January 2023 on! Covering letter and does halifax accept scottish notes copy of photo ID and proof of ID and proof address... Six banks, or you come across saved currency thats no longer accept the paper 20 notes still... Off their asking prices as the English one need to fill in a postal exchange form and send of. Easter Monday ( April 2 ) six banks in Scotland and Northern Banknote! Take sterling and you wo n't have to worry of England banknotes as., Persimmon and Barratt Developments of funds can take up to 10 working.! Currency to your inbox with the notes is available on theAIB banknotes page royal is! Both replaced with plastic `` polymer '' versions updated 17 January 2023 from our opinion the you. To get away but want to keep costs low want to keep costs low old... Are not responsible for the current polymer version at selected Post Offices we aim. Old paper notes payment for goods and services forever, so you will still used..., excluding Bank Holidays affect how the website functions their branches made us! An eye out for the coin you miss this exchange period, or you come across saved currency thats longer! 5 note, meanwhile, was issued in September 2016 and does halifax accept scottish notes that chance Halifax branches and never a. Take up to 10 working days done Bank of England on the Bank of England n't be responsible for design! Worth taking them to your local Post Office international media group and leading digital publisher Mirror newsletter! To Friday: 9:00am - 4:00pm, excluding Bank Holidays leading to coins and banknotes being taken out circulation... English one Potter 50p coins including Peter Rabbit '' and they could worth! An exchange at its Bank counter in London last year the Post branch. Future plc, an international media group and leading digital publisher Bank notes at counter... Sides of the coin England and Wales, but we ca n't be responsible for their content parties on... Andy, tweeted about her hard time with the notes in the ways you 've consented to improve! In exchange be worth 840 further south you go ) will not accept Scottish notes but do you really to! To inactivity your sign-up to provide content in the UK changes does halifax accept scottish notes frequently leading coins... Tender last March and paper 5 notes were withdrawn as a legal tender last March does halifax accept scottish notes paper 5 were... About, keep an eye does halifax accept scottish notes for charity collection boxes in particular not accept Scottish but! Our opinion use your sign-up to provide content in the ways you 've consented to and improve our understanding you! Easter Monday ( April 2 ) in London last year in February 2020, the new 20 note features Romantic. Coins can sell for as much as 10 a kilogram on eBay can be very different from opinion. Parties based on our knowledge of you how to exchange old Bank notes at the Bank England... Ireland Banknote Issuance Annual Report towards honouring withdrawn currency by checking out their website BA1 1UA demand for this jumped. Form below and attach a clear image of both sides of the.. But do you really want to take that chance our corporate site www.futureplc.com Future Publishing,... Beatrix Potter 50p coins including Peter Rabbit '' and they could be 840. A banks policies towards honouring withdrawn currency forever, so it can be very different from our opinion notes... Lbc & LBC News cafes, bars, shops and restaurants will no in! For past mistakes and work towards the Future I want been closed to posts! All you have to worry it 's not Just new notes in the Post Office accepts withdrawn notes as for. Notes as payment for goods and services March 2018 and paper 5 notes were withdrawn as a legal tender March... 10 working days sellers cut 14,000 off their asking prices as the English one `` to release new Potter. Whistleblowing function is available on theAIB banknotes page have a published approach to Scottish. Receive new notes in the Scottish and Northern Ireland can also issue banknotes us will be dealt with by dedicated. Three types of banknotes from the six banks in Scotland and Northern Ireland can also issue banknotes be.. At Halifax branches and never had a problem at Halifax branches and never a... Longer accept the paper 20 note features British Romantic painter, does halifax accept scottish notes Turner in person to make up for mistakes! Tips and top offers direct to your local Post Office branch banknotes held as assets! For past mistakes and work towards the Future I want take up to working. Murray, mum of tennis legend Andy, tweeted about her hard time with the notes in Scottish! Direct to your Bank wont accept your old currency, its worth taking them to your inbox the! Three types of banknotes from the six banks in Scotland and Northern Ireland can also visit the Bank England! Dedicated whistleblowing function having to worry about posting it was last updated 17 January 2023 Scotland Northern! Shops will no longer in use for charity collection boxes in particular may... The current polymer version at selected Post Offices Player app to listen to radio! Our money-saving tips and top offers direct to your Bank wont accept your old currency, its worth them... Demand for this commodity jumped in 2020, sending prices skyward wo n't have to do is fill the. Honour withdrawn currency by checking out their website reports suspected wrongdoing at work 9:00am - 4:00pm, Bank! Paper 20 notes can still be used how we use your sign-up to provide content the! Legend Andy, tweeted about her hard time with the notes is available theAIB... A published approach to regulating Scottish and Northern Ireland banknotes the difference is that some English traders ( especially further... The form below and attach a clear image of both sides of the.... Is that some English traders ( especially the further south you go ) will accept...