The Bank of England has issued a reminder to retailers that there is just one month to go until it withdraws legal tender status of its paper £20 and £50 banknotes.
In a statement it said: “After 30 September 2022, paper £20 and £50 banknotes will no longer be legal tender. So we are encouraging anyone who still has these to use them or deposit them at their bank or Post Office during this last month.
On the same date Bank of Scotland, Clydesdale Bank and Royal Bank of Scotland will withdraw their paper £20 and £50 banknotes, and Bank of Ireland, Danske Bank/Northern Bank Limited and Ulster Bank in Northern Ireland will withdraw their paper £20 notes.
AIB Group (UK) plc (previously trading as First Trust Bank in Northern Ireland) ceased issuance of banknotes on 30 June 2020. Consequently AIB Group (UK) plc/First Trust Bank has advised that their banknotes should no longer be accepted, but can continue to be deposited to bank accounts at a variety of institutions.
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