Brand new £20 note enters circulation tomorrow – here’s what you should know


Take note - a new £20 is being entered into circulation on Thursday 20 February. 

The Bank of England is finally distributing the pristine currency across the UK, having first unveiled the design back in October.

These polymer notes are considered safer and cleaner, as well as being less vulnerable to disintegration.

The change in material also enables the Bank of England to add a number of new security features that make money more difficult to forge and easier to authenticate.

Starring on the fresh £20 - on the opposite side to The Queen - is English Romantic painter J.M.W. Turner, whose portrait appears in front of his classic work "The Fighting Temeraire".

But what does this mean for your old money?

Wikimedia Commons

Simply put: There's no need to panic.

The Bank of England will make the old £20 notes defunct at some stage - but that will only happen on the withdrawal date.

This hasn't been announced yet, but we do know it'll be at least six months down the line.

Old notes won't be accepted by the retail sector after the withdrawal date, however some banks will continue to take them.

It's worth getting in touch with your bank to be sure. Failing that, the Bank of England themselves may be able to help.

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