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How long do plastic bank notes last?
Bank notes last for anything between a year – for the 250 million or so £5 notes in circulation – to over five years for the rarely seen (at least by the Focus team) £50 note, of which around 90 million are doing the rounds. They generally end up torn, put through the washing machine or chewed by pets.
Are the new bank notes plastic?
In the UK there are currently over £70 billion worth of banknotes in circulation. The latest development is to print new notes on polymer – a thin, flexible plastic. We released the new £5 note in September 2016 and the new £10 note a year later. The new polymer £20 note will enter circulation in 2020.
Are non plastic bank notes still legal tender?
Paper £20 notes go out of circulation on September 30 2022. Until then, you can still use the old £20 notes as they are accepted as legal tender. If you’re looking to exchange any old notes, The Bank of England website has further information. ‘Many banks will accept withdrawn notes as deposits from customers.
Can 5 notes rip?
Each new note is said to be able to last 2.5 times longer than the old paper notes, which were susceptible to being torn, chewed, washed or contaminated as well as being accidentally set on fire.
Are all UK notes plastic?
The Bank of England decided to launch it on the 20 February 2020 – fitting for a £20 note! The person who appears on the new note is famous British artist JMW Turner. Next year we’re set to have a new plastic £50 note too that will complete the set – meaning all Bank of England notes will be plastic.
Is the new 50 note plastic?
The note is printed on polymer, which is a thin and flexible plastic material. On the front of the note, you can feel raised print. For example, on the words ‘Bank of England’ and in the bottom right corner, over the smaller window.
Do banks take old 5 notes?
Banks don’t legally have to accept old paper notes and coins once they’ve been withdrawn from circulation. However, some may continue to allow you to swap them while others may let you deposit old notes and coins into your account.