Why are 50 notes not accepted?

The older £50 notes are being phased out and will not be accepted in shops from the beginning of October next year. The new polymer-printed £50 is harder to copy for fraudsters and also more durable – so it should not get damaged if accidentally put into the washing machine.

Which 50 pound notes have been withdrawn?

The Bank of England has said these £50 notes can be used until September 30 2022. The note will be withdrawn from circulation from this date. The old £20 note will also be withdrawn from this date too. A new plastic £20 featuring artist JMW Turner went into circulation in February 2020.

Can I get 50 pound notes from the bank?

You can keep using the current paper £50 notes as usual. They will be withdrawn, but the Bank of England will give at least six months’ notice before they are. The current paper £50 was issued in 2011 and features James Watt and Matthew Boulton, who designed the steam engine.

Are 50 pound notes changing?

Exchanging old notes 30 September 2022 is the last day you can use our paper £20 and £50 notes. After 30 September 2022, many banks will accept withdrawn notes as deposits from customers. The Post Office may also accept withdrawn notes as a deposit into any bank account you can access at the Post Office.

Can shops legally refuse 50 notes?

‘In England and Wales, legal tender is Royal Mint coins and Bank of England notes. If you hand over a £50 note to pay for a banana in your local grocery store, the staff are within their rights to choose not to accept it. ‘Likewise for all other banknotes – it’s a matter of discretion. ‘

Are old 50 pound notes worth anything?

AA notes are the most valuable, but anything with an A in it could be worth more than the value of the note itself. For example, we’ve recently seen AA £50 notes on eBay go for £78. But other notes with early serial numbers have gone for much higher. Back in 2017, an AA01 £5 note sold on eBay for over £60,000.

Can shops refuse 50 notes?

‘In England and Wales, legal tender is Royal Mint coins and Bank of England notes. If you hand over a £50 note to pay for a banana in your local grocery store, the staff are within their rights to choose not to accept it. ‘Likewise for all other banknotes – it’s a matter of discretion.

Can shops refuse 50 pound notes?

Yes. A shop is under no obligation to sell you anything, nor to sell it to you at the price on the label. If you received any service or goods from a shop in advance of payment, so that you were in debt, then your note would be OK. …

Do shops have to accept old 20 pound notes?

Paper £20 notes go out of circulation on September 30 2022. Until then, you can still use the old £20 notes as they are accepted as legal tender. If you’re looking to exchange any old notes, The Bank of England website has further information. And, you can always exchange withdrawn notes with us.

When did pound notes stop being legal tender?

11 March 1988
The government also believed that the growing vending industry would benefit from the introduction of a one-pound coin. The new cupro-nickel coin was introduced on 21 April 1983 and the one pound note ceased to be legal tender on 11 March 1988.

Is the paper £50 note still in circulation?

You will be able to use the paper £50 note until we withdraw it from circulation. We will announce the withdrawal date after we have issued our new polymer £50 note. Many banks will accept withdrawn notes as deposits from customers.

How many Bank of England notes are in circulation?

There are four denominations (values) of Bank of England notes in circulation: £5, £10, £20 and £50.  Click on the images below to find out how to check the features on each of our notes: £5 Issued on 13 September 2016 and features Sir Winston Churchill. £10 Issued on 14 September 2017 and features Jane Austen. Paper £20

When do Houblon £50 notes go out of circulation?

From May 2014 onwards, shops across the UK are unlikely to accept the old notes as payment and most UK banks will only exchange Houblon £50 notes for members of the public until 30 October 2014. Here is some advice from the Bank of England on what to do with your Houblon £50 notes:

When does the new Bank of England £50 note come out?

The new £50 note will be brought into circulation in 2021; It will be the last of the Bank of England’s notes to switch from paper to polymer. The reverse of the note will feature a portrait of mathematician and codebreaker Alan Turing.