Paper issues of the £5 note were no longer a valid offer in May 2017, while the £10 note was withdrawn in March 2018. The Bank of Scotland, Clydesdale Bank and Royal Bank of Scotland will withdraw their £20 and £50 notes on 30 September. Paper tickets are currently still valid and can be issued in shops or other places where cash is accepted. The post office will continue to accept paper tickets even after the deadline, as will some construction companies. To avoid old and invalid notes in your wallet, issue them or deposit them into your bank account. The Bank of England also said that it is easier to detect a counterfeit note with the polymer version compared to paper notes. “Persons who are not customers of the Bank of Scotland may go to a branch of the Bank of Scotland and exchange Bank of Scotland banknotes in denominations of £20 and £50 in polymer versions up to a value of £250.” Before that, we design a new banknote and start issuing it. Our banknotes always retain their face value. If your local bank, mortgage company or post office does not accept them, you can exchange them with us. The Bank of Scotland said customers will be able to deposit their paper notes into their accounts as usual after the September 30 deadline, while non-Bank of Scotland customers will be able to exchange the paper notes for a polymer version up to a value of £250. “These notes will continue to be refunded, but if you have one of these notes, you should bring it to your branch/bank to credit it to your account.” The banknote design process was touted as “working with the Scottish people”, involving a total of 1,178 Scots. Nile HQ, a strategic design firm led the redesign process and De La Rue printed the notes. Each note contributes to an overall theme “Fabric of Nature”.
Given the national importance of the banknotes, Nile HQ invited Scottish designers, photographers and calligraphers to develop the creative concept of the new banknotes (O Street, Graven Images, Timorous Beasties, Stuco and Susie Leiper). Swiss Post accepts withdrawn banknotes as a deposit in any bank account. Go to your local branch to drop off the old £20 note. The Scots should make money, as a number of paper banknotes have to be withdrawn from circulation in Scotland. The most recent plastic note to enter circulation was Alan Turing`s £50 note, which entered circulation on June 23, 2021 last year. A Bank of Scotland spokesperson told Glasgow Live: “On 30 September 2022, the Bank of Scotland will withdraw the £20 and £50 notes. Paper banknotes have been replaced by polymer versions already in circulation. The last banknotes to be withdrawn from use are £20 and £50 paper notes, meaning use can be refused from 1 October. The design of polymer banknotes aims to increase protection against counterfeiting, as explained by the SCCB.
Polymer Scottish banknotes now account for around 90% of the £20 notes and 50% of the £50 notes in circulation in Scotland. “Thanks to the work that issuing banks have already done to replace old paper notes with safer and more environmentally friendly polymer notes, the majority of £20 and £50 notes have already been replaced with polymer.” Martin Kearsley, the Post`s banking director, said: “We are aware that people live busy lives and that some may postpone the deposit of their £20 and £50 notes at the last moment. Paper tickets worth £20 and £50 expire this week. Scottish banknotes are unusual, firstly because they are issued by retail banks rather than state central banks, and secondly because they are technically legal tender anywhere in the UK – not even in Scotland, where no banknotes – even those issued by the Bank of England – are legally defined as legal tender.   Formally, they are classified as promissory notes, and the law requires issuing banks to hold a sum of Bank of England banknotes or gold equal to the total value of the notes issued.  ANYONE with 20-pound paper notes has only a few days left to spend them. From May 2020, the Royal Bank of Scotland is introducing a new series of notes. These will be made of polymer. Three (the 5-book, 10 and 20 book notes) have already been published. The £5 note depicts poet Nan Shepherd on the obverse, accompanied by a quote from her book The Living Mountain and the Cairngorms in the background.
The reverse shows two mackerel and an excerpt from the Scottish Gaelic poem “The Choice” by Sorley MacLean.  The obverse of the 10-pound note shows scientist Mary Somerville with a quote from her book The Connection of the Physical Sciences and Burntisland Beach in the background. The reverse shows two otters and an excerpt from Norman MacCaig`s poem “Moorings.”  The obverse of the £20 note depicts entrepreneur Catherine Cranston. The reverse shows two red squirrels and a quote from the Scottish poem “Venus and Cupid” by Mark Alexander Boyd.  The obverse of the next £50 note, to be published in August 2021 and now in red to reflect the Bank of England`s £50 notes, features educator Flora Stevenson on the front and an osprey on the reverse.  £20 and £50 paper banknotes expire within days of urgent warning issuing banks will continue to accept all Scottish banknotes from their own customers. These can be deposited into their bank account or exchanged for polymer notes. The Royal Bank of Scotland, Clydesdale and the Bank of Scotland have also agreed to exchange their own paper notes worth £20 and £50 from non-customers up to a value of £250, subject to photo identification. All our polymer banknotes can be checked by looking for two important security features: a hologram that changes the image; and transparent windows. So if you can check a face value of the ticket, you can check them all. The withdrawal date for paper notes will come when the Bank of England will phase out its own £20 and £50 paper notes, meaning people will have to use their remaining paper notes from the Bank of England until the end date when they are no longer legal tender. The move comes just over a year after the new 50-pound polymer notes – featuring portraits of Sir Walter Scott and Flora Stevenson – began circulating.
If you have an old legal tender, such as £5 or £10 notes, you can exchange or deposit them using this method. The last notes to be withdrawn from use are £20 and £50 paper notes issued by the Bank of Scotland, Clydesdale Bank and Royal Bank of Scotland, with a deadline of 1 October. This coincides with the Bank of England`s paper notes, which began on September 30. September can no longer be used as legal tender. If you want to exchange banknotes at the post office, you need to check that your bank is registered to receive cash deposits. Swiss Post will then deposit the money into your account, which you can then withdraw. What is classified as legal tender varies across the UK. In England and Wales, these are coins of the Royal Mint and banknotes of the Bank of England. In Scotland and Northern Ireland, these are only Royal Mint coins and not banknotes. The Bank of England has issued a warning to people in possession of the banknotes to have them replaced. Notes worth around £1.2 billion, worth £20 and £50, have so far been deposited at the post office. But the Bank of England says there are still £20 paper notes and £50 notes worth £8 billion in circulation.
If you miss the date of issue or deposit of a £20 paper, don`t worry, you won`t lose. Clydesdale Bank currently has two sets of notes in circulation. The latest set of banknotes, the Polymer series, entered circulation in March 2015 when Clydesdale Bank became the first bank in the UK to issue polymer notes. The £5 commemorative notes, issued to mark the 125th anniversary of the construction of the Forth Bridge, include several new security features, including a reflective graphic printed above a transparent window inside the banknote.   Additional polymer series notes will be introduced over time and will replace previous paper notes: the public was invited to issue or exchange non-polymeric five- and ten-pound notes before March 1, 2018, which have now been withdrawn from circulation.  The new £20 note is slightly smaller than the paper edition and depicts the British painter JMW Turner.