Pressing warning issued to everybody with Financial institution of Scotland £20 and £50 notes of their pockets

Anybody with paper £20 and £50 notes have been issued a warning because the money from Financial institution of Scotland and Financial institution of England are set to run out inside in days.

The Financial institution of England has issued a warning to anybody who nonetheless has £20 paper notes of their purse or pockets.

Time is working out to get them changed as the brand new polymer model will solely be recognised as authorized tender. The polymer notes got here into circulation again in 2020 and over the past two years, paper notes have been phased out.

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From October 1, Financial institution of Scotland paper £20 and £50 notes will expire and not be thought of as authorized tender, whereas these with paper notes from the Financial institution of England, they’ll expire on September 30. There was excessive demand to get the notes modified.

In response to Financial institution of England, there are lengthy queues and ready instances at banks the place individuals are urgently making an attempt to swap over their notes.

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Whereas there is no such thing as a deadline to change the outdated notes for the polymer ones, prospects are nonetheless dashing to get theirs swapped earlier than they’ll not spend their paper cash, in line with Manchester Evening News.

A Financial institution of England assertion mentioned: “The Financial institution of England Counter is at present open from 9.30am to 3pm Monday to Friday and is experiencing very excessive demand.

“There will likely be lengthy queues and you could encounter ready instances in extra of an hour. We’d ask that you just kindly think about the lengthy wait instances when travelling to the Financial institution to undertake an in individual change – in the event you arrive after 2pm it’s attainable you could not get served earlier than we shut.”

The Financial institution instructed that prospects ought to ship their banknotes through publish to them utilizing a Postal Exchange Form until they require them instantly. Earlier than the September 30 deadline, the paper notes may nonetheless be spent in retailers.

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