The Bank of England has issued a warning that all £20 paper bank notes will no longer be valid for use by the autumn.
Following the recent withdrawal of the paper £10 and £5 banknotes, it’s been confirmed that from 30 September 2022, the more than £19 billion worth of old-style £20 and £50 banknotes that are still in circulation will see lose their legal tender status and become redundant.
It’s part of what’s being described as a shake-up to tackle fake money.
The Bank of England said it will continue to swap old notes for their face value, but households are urged to use the old notes up the autumn deadline.
Not only that, but according to the Royal Mint, there are also £105 million old one pound coins in circulation too, which is now five years after losing their tender status, but while they cannot be spent in shops, they can still be deposited at high street banks.
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Since June 23, 2021, the entire collection of currently-printed banknotes is made of plastic – with the polymer £50 note featuring Alan Turing completing the collection, reports The Mirror.
The Bank of England has issued a warning that all £20 paper bank notes will no longer be valid for use by the autumn / Credit: Pxhere
A spokesperson for the Bank of England explained that “all genuine Bank of England banknotes that have been withdrawn from circulation retain their face value for all time”.
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People can also post old notes to the bank in Threadneedle Street, in the City of London, to be paid into a bank account, by cheque or, “if you live in the UK and your exchange is worth less than £50”, swapped for new-style polymer ones.
The Bank of England explained that for anyone with a UK bank account, the easiest way to exchange paper money “will normally be to deposit them with your bank”.
“Polymer notes are safer than paper notes and last more than twice as long,” the Bank of England said.
Greater Manchester public urged to help get people ‘off the streets and on their feet’ before Christmas
Emily Sergeant
Locals are being urged to help get hundreds of people “off the streets and back on their feet” this festive season.
As the temperatures told colder by the day, and Christmas creeps closer and closer, Greater Manchester Mayor’s Charity is bringing back ‘1000 Beds for Christmas’, and the massively-important initiative is aiming to provide 1,000 nights of accommodation to people at risk of homelessness before the big day arrives.
Forming part of the ongoing ‘A Bed Every Night’ scheme, this festive fundraising mission is designed to provide food, shelter, warmth, and dedicated vital wrap-around support for those who need it most.
The charity says it wants to build on the “incredible success of 2023”, which raised more than £55,000 and provided 1,800 nights of accommodation.
Stockport-based property finance specialists, Together – which has supported the campaign for the last two years – has, once again, generously pledged to match every public donation for the first £20,000 raised.
Unfamiliar with the ‘A Bed Every Night’ scheme? Since 2017, when rough sleeping peaked, the initiative has helped ensure a significantly-higher rate of reduction in the numbers of people facing a night on streets in Greater Manchester than seen nationally.
The landmark scheme has given people the chance to rebuild their lives, while also giving them access to key services and opportunities that allows them to stay off the streets for good.
Despite the scheme’s recent success, organisations across Greater Manchester are under “a huge amount of pressure” to meet the demand for their services this winter, and given the current economic outlook, household budgets will continue to be squeezed – leaving people on the sharp end of inequality and poverty.
Emily Sergeant -
23rd March 2022 
