When old £20 note expires as you have at least six months left to use them
Brits are slowly but surely getting used to the new type of banknotes lining wallets and purses.
The polymer £5, £10 and £20 have been released by the Bank of England to replace the older paper ones in circulation.
In February the latest release of a £20 was put out to the public – far from ideal timing.
A month later the country was in lockdown and shoppers were encouraged to avoid using cash.
So there might be a few households that have not got round to spending their old paper scores.
Luckily, there is no need to rush to the nearest shop.
That’s because the Bank of England has said that old £20 are still being considered legal tender.
A line on its website reads: “Don’t worry, you can still use the paper £20 note for now.”
And there won’t be a rush to get out and hand your notes over to a shopkeeper any time soon.
The Bank said it will give six-months notice before the notes are no longer accepted as cash.
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At this point, that means spenders have at least until April to make use of the cash.
Even then, you can still exchange them for a new £20.
The best way to guarantee a swap is to head to the Bank of England itself.
In fact, even if a note's ripped, smashed or otherwise vandalised, as long as there's enough left to identify what it was, they will swap it for a new one, Mirror Online reports.
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Before handing it in for a swap, it might be worth checking the serial number on the note in case it could be worth a bit more.
Matching numbers, such as 123456 or 222222, might catch a collector’s eye and earn you a pretty penny.
Even now savvy sellers are flogging old notes with unique serial codes on eBay.
One note, with the number AA01, is being sold at £25 – five pound more than the cash value.
There have been 10 bids so far.
The new £20 features a portrait of JMW Turner, the 18th and 19th-century British artist known for his vivid landscape and marine paintings.
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