UK Post Offices predict a “last moment” inflow of shoppers depositing paper £20 and £50 banknotes this week earlier than they’ll not be utilized in outlets.
Friday 30 September is the deadline that the Bank of England’s paper notes could have authorized tender standing.
After that date, solely polymer banknotes shall be acceptable in outlets or to pay companies.
So far, £1.2bn of paper banknotes have been deposited on the Post Office’s 11,500 branches – £372m of £20 notes and £820m of £50.
More than £100m of the notes have already been deposited this month.
Martin Kearsley, Post Office banking director, stated: “We’re fully aware that people lead busy lives and some may put off depositing their paper £20 and £50 banknotes until the last moment.
“Postmasters and their employees are available to supply that human reassurance that your outdated notes have been deposited into your checking account and can present a receipt too. Most Post Offices are open lengthy hours together with on Friday.”
However, even after the deadline if in case you have a UK checking account you’ll nonetheless be capable to deposit outdated paper banknotes at your financial institution department or at a Post Office.
The new £20 be aware options artist JMW Turner, while the brand new £50 be aware options Bletchley Park codebreaker Alan Turing.
Source: information.sky.com”