United Kingdom paper £20 or £50 notes set to expire
Tue, 31 May 2022
Island residents are being urged to check if they have any United Kingdom paper £20 or £50 notes before they are withdrawn from circulation on 30 September 2022.
Anyone with notes in their possession is advised to pay them in to their bank or have them exchanged for newer notes. They may also be spent while they remain legal tender, although acceptance would be at the discretion of the business owner.
The withdrawal from circulation follows the introduction of polymer, or plastic, versions of both notes which include additional security features designed to make them harder to counterfeit. The £20 note was introduced in February 2020 and features a picture of the artist JMW Turner; the £50 note was introduced in June 2021 and features the mathematician and computer scientist Alan Turing.
Isle of Man Bank will continue to accept the discontinued notes after the deadline and repatriate them to the UK. Most other banks in the Island are expected to take a similar approach.
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