Use paper £20 and £50 notes before October 1 before shops reject them, says Bank of England
Shoppers are in a race against time to spend £19bn worth of paper £20 and £50 notes – because shops will stop accepting them in six months.
The paper bills have been swapped for plastic replacements for the past two years to improve security.
But there are still up to £19 billion worth of old £20 and £50 notes in circulation in Britain, which amounts to 775 million individual notes.
A stack of the old £20 bills that shoppers are encouraged to swap for the new plastic version
The old paper £5 and £10 notes have already been discontinued
Paper bills have been swapped for plastic replacements for the past two years to improve security
The Bank of England, pictured, said the paper notes will keep their face value forever, despite the changes
That number has fallen from the £24bn in circulation reported in September last year.
The £50 note featured an image of Alan Turing, the cryptographer at Bletchley Park credited with breaking Germany’s Engima code to help the Allies win World War II.
The £20 note features an image of the famous English painter of romantic landscapes JMW Turner.
The BoE chose Turner, who died in 1851, from a shortlist of visual artists, including filmmaker Charlie Chaplin, sculptor Barbara Hepworth, painter William Hogarth, and designer Josiah Wedgwood.
The deadline to use them is September 30, when they are no longer legal tender and will be rejected in stores.
The Bank of England says it will continue to exchange old notes for their face value.
It comes after the £5 and £10 notes were replaced more than four years ago.
Shoppers can send old notes to the BoE in London or deposit them at their local bank.
The notes include several newer security features, including a change to the holograms that read “Twenty Pounds” and a clear window with an image of Big Ben.
They also display the amount in a checkered color when placed under ultraviolet light.
The new banknotes include a tactile feature to help visually impaired people identify the denomination.
A Bank of England spokeswoman said: ‘All genuine Bank of England notes withdrawn from circulation will forever retain their face value’.
When the plastic notes were first brought in with the latest version of the £5 note, drug users claimed the note cut their noses when they snorted cocaine.
The ‘indestructible’ polymer tones are hard to tear and can survive going through the washing machine and spilling other types.
The banknotes are resistant to dirt and moisture, keeping them in better condition for longer and it is hoped that each note will last up to three times longer than the previous paper versions.
The Bank has made changes to its iconography in recent years, including a redesign of their logo.
It revamped its 328-year-old Britannia logo in an effort to become more “inclusive” while saving her money.
The seal, which shows the female personification of the British Isles, has been redesigned and the Bank said it wanted it to “reflect our current mission and values.”
The Bank has played out its ‘awake’ credentials in recent years, proudly proclaiming itself a Stonewall Diversity Champion after joining a program of the controversial charity.
The Bank has made changes to its iconography in recent years, including a redesign of their logo
Partners such as the BBC, House of Lords and Cabinet Office recently dropped the charity over concerns it could pressure employers to change their policies to reflect the trans rights agenda.
The bank, which has not disclosed the costs, also says it has made changes to its website to make it more readable for people.
While the entire logo has not been changed, there are some distinct differences between the new and the old.