Paper £20 & £50 notes will not be accepted in UK after 30th Sep, 2022 

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Market Desk (Economy)Paper bank notes worth £20 and £50 will no longer be accepted across the UK from today at 30th September, 2022.

The paper notes are being phased out by the Bank of England and being replaced by the polymer notes since 2016.

It’s judged that polymer notes are more durable and harder to counterfeit.

The £5 paper note had been phase out in recent years as the Bank of England moved towards wholly polymer circulation.

The move will affect Northern Ireland, where Ulster Bank, AIB Group, Bank of Ireland and Danske Bank all have issued notes in circulation.

It is estimated that more than 314mn 20 pound notes are in circulation in the UK alone.

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