MoneySavingExpert website warns old £20 notes will become void as deadline nears

The Bank of England's cut-off date to use the paper banknotes is right around the corner.

Paper £20 and £50 notes will cease to be valid from September 30 when the official deadline comes into force.

It is part of a wider push to the new polymer notes with the plastic £5 and £10 notes in circulation, along with the new pound coin.

Although the paper banknotes have been around since 1695 in the UK, it's time to swap them, says the MoneySavingExpert website.

The page, founded by Martin Lewis, urged Brits to hurry up and use their old notes before they become void.

Artist JMW Turner features on the front of the new polymer £20 note which was first launched in 2020.

The paper edition features the face of economist Adam Smith, while the new £50 has Alan Turing and it entered circulation in 2021.

You can check which note is old using the old pictures of the £20 and £50 notes on the Bank of England website.

It is believed an estimated £19billion worth of paper banknotes are still in circulation.

Households are being told to use up the 775million paper notes before the autumn deadline.

There are also £105m old one pound coins in circulation, five years since losing its tender status, says the Royal Mint.

The round £1 coin was demonetised at midnight on October 15, 2017, and replaced by the new five-sided version.

If you have a UK bank account, an easy way to exchange paper notes is by depositing them with your bank.

Former Bank of England governor Mark Carney said: "Polymer notes are safer than paper notes and last more than twice as long."

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