Hailey Johnson
Old £20 notes are no longer considered legal tender in the UK as of 30 September 2022. However, there are still around 375 million paper notes in circulation across the UK. If you have old £20 notes, you can exchange them for new polymer notes at the Bank of England, either in person or by post. There are also 50 Post Office branches across the UK that will exchange old banknotes, even if you don't have a bank account.
| Characteristics | Values |
|---|---|
| Old £20 notes legal tender? | No longer legal tender in the UK since 30 September 2022 |
| Exchange old £20 notes? | Yes, at the Bank of England or at selected Post Office branches |
| Exchange limit at Post Office | £300 every two years |
| Exchange limit at Bank of England | None |
| Exchange requirements | Photo ID and proof of address |
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What You'll Learn
Exchanging old £20 notes at the Bank of England
Old £20 notes are no longer considered legal tender in the UK. However, you can still exchange them for new polymer notes at the Bank of England. There is currently no time limit for doing so.
The Bank of England will only exchange old Bank of England £20 notes that have been withdrawn from circulation. You can exchange these notes in person or by post. The Bank of England counter is located on Threadneedle Street in London and is open from 9:30 am to 3:00 pm, Monday to Friday, excluding bank holidays. The last entry is at 2:45 pm, but if you arrive after 12:00 pm, you may not get served before closing time.
When exchanging old £20 notes in person, you may need to present an original photo ID and proof of address. The Bank of England may also ask for additional documentation, such as a signed letter from the person gifting you the money, explaining how they accumulated it and confirming the amount. It is important to note that the Bank of England's counter can get very busy, and you may be issued a ticket to return at a later time on the same day.
If you choose to exchange your old £20 notes by post, you will need to fill out a postal exchange form and send photocopies of your proof of ID and address. Sending banknotes by post is done at your own risk, and you may want to insure yourself against loss or theft. The Bank of England is currently experiencing delays of up to 90 working days for postal banknote exchanges.
Alternatively, you can exchange your old £20 notes at a bank or building society that accepts old paper notes as deposits. You can also take them to one of the 50 Post Office branches across the UK that offer this service, even if you don't have a bank account. However, the Post Office may have a limit on the value you can exchange.
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Exchanging old £20 notes at the Post Office
Old £20 notes are no longer legal tender in the UK. However, you can still exchange them for new polymer notes. The Post Office will accept most old notes as a deposit into any UK bank account you can access with them. There are also 50 Post Office branches across the UK that will swap old banknotes, even if you do not have a bank account.
You can exchange up to £300 of paper banknotes in any £5, £10, £20 and £50 denominations of the last series at participating branches within any two-year period. The Post Office will give you the same value in current, valid polymer notes. You will need to bring a valid photo ID to make the exchange.
Some sources suggest that a proof of address is also required, but this does not seem to be mentioned on the Post Office website. It is also unclear whether the equivalent document from outside the UK would be accepted.
You can use the Post Office branch finder tool to locate a Post Office that offers this service near you.
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Exchanging old £20 notes without a bank account
Old £20 notes are no longer considered legal tender in the UK as of 30 September 2022. However, you can still exchange them for new polymer notes at the Bank of England, even by post, with no deadline. This can be done in person at their Threadneedle Street building from Monday to Friday, 9:30 am to 3 pm. You may need to present an original photo ID and proof of address when exchanging notes.
If you don't have a bank account, you can still exchange your old £20 notes at one of the 50 Post Office branches across the UK. You can exchange up to £300 every two years, and you will need to show a form of photo ID.
Alternatively, you can try exchanging your old notes at banks like the Bank of Scotland and Virgin Money, which allow exchanges without an account.
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Exchanging old £20 notes by post
Old £20 notes are no longer considered legal tender in the UK as of 30 September 2022. However, there are still around 375 million paper notes in circulation across the UK. If you have old £20 notes, you can exchange them for new polymer notes at the Bank of England or at selected Post Office branches.
The Bank of England accepts postal exchanges of old £20 notes. There is no deadline for exchanging old banknotes by post, but there are currently delays of up to 90 working days in processing these exchanges. It is important to note that sending banknotes by post is done at your own risk, so you may want to insure the package against loss or theft.
To exchange your old £20 notes by post, you will need to fill in a banknote exchange application form and send it, along with your old notes and photocopies of your proof of ID and address, to the following address:
> Dept NEX
> Bank of England
> Langston Road
> Loughton
> Essex
> IG10 3TN
The Bank of England accepts the following as proof of address:
- Valid photo card driving licence (full or provisional)
- Original letter of authority naming you and signed by a representative of the company on headed paper
- A copy of photo ID and proof of address for the representative who signed the letter
Exchanging old £20 notes in person
If you would prefer to exchange your old £20 notes in person, you can do so at the Bank of England counter on Threadneedle Street in London. The counter is open from 9:30 am to 3 pm on weekdays, excluding bank holidays, with last entry at 2:45 pm.
Alternatively, you can exchange your old £20 notes at one of the 50 Post Office branches across the UK that offer this service. These branches will exchange your old notes for new polymer notes, even if you do not have a bank account. You can exchange up to £300 worth of old notes every two years and will need to present a form of photo ID.
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£20 notes that are no longer legal tender
If you are unable to get to the Bank of England or a Post Office branch, you could try depositing the old £20 notes into your bank account. Most banks will still take them if you have an account. However, some banks may charge a fee for this service if you are not a customer. Another option is to exchange the old £20 notes with friends or family who have a bank account and then deposit the money into your own account.
It is worth noting that banknotes featuring the late Queen Elizabeth II will remain legal tender, so you don't need to exchange them for new ones featuring King Charles III.
Finally, it is always a good idea to check unused bags, wallets, and even children's money boxes for old £20 notes that can be exchanged for new ones.
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Frequently asked questions
Yes, banks do take old £20 notes. However, you may need to present an original photo ID and proof of address when exchanging notes.
You can exchange old £20 notes at the Post Office or by posting them to the Bank of England.
Yes, there is a £300 limit to how much each person can exchange in Post Office branches.
No, banknotes featuring the portrait of Her late Majesty, Queen Elizabeth II, will remain legal tender.
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