The $25 and $500 bills are some of the rarest ever produced in Canada. The only place you can now exchange your paper notes for crisp polymer notes is at The Bank of England. Be aware the banknotes are sent at your own risk. You can no longer use an old 5 pound note as it ceased to be legal tender on 5 May 2017. On 20 February 2020 we issued a new polymer £20 note. Figures from the Bank of England suggest there’s still £2.2 billion of old paper £10 notes in circulation. If you've got a new polymer £5, check if it's worth a fortune. Small amounts can be exchanged without going through a customer’s account, while larger amounts will need to be deposited into the account. Even then, buyers are known to pull out and refuse to pay. For other inquiries, Contact Us. The European Central Bank has decided not to include a €500 euro banknote in the Second Series of Euro banknotes. In complying with applicable laws and for law enforcement purposes, we may also disclose data to any government entity, regulatory authority or to any other person the Bank reasonably considers necessary. "The Sun", "Sun", "Sun Online" are registered trademarks or trade names of News Group Newspapers Limited. The polymer £5 banknote was first issued by the Bank of England in September 2016. If the value is £1,000 or more and it belongs to you, you need to bring original photo ID and proof of address. You can still use your paper £20 notes for now. We’ll give you 6 months’ notice of the date you’ll no longer be able to use the paper £20. 679215 Registered office: 1 London Bridge Street, London, SE1 9GF. The old-style Elizabeth Fry paper notes will cease to be legal tender on Friday (May 5) meaning you will not be able to use them. Redeeming Old Banknotes. Both the old £10 note and the old £5 note are no longer in circulation, but if you still have some, there are a number of options. But what do you do now if you still have paper fivers floating around your house? We have issued a new £20 note made of polymer. Shops stopped accepting old paper £10 notes a year ago and old paper £5 notes back in May 2017. Necessary cookies enable core functionality on our website such as security, network management, and accessibility. But these notes haven't caused a stir, in fact, they are not rare and there are already hundreds of them listed on eBay. More than a year after they ceased to be legal tender, there are still £1.5bn-worth of paper £5 and £10 notes that haven’t been cashed in. People can take or … The Bank of England has rung the changes following the launch of the new polymer notes last year. The Post Office may also accept withdrawn notes as payment for goods and services, or as a deposit into any bank account you can access with them. So what can you do with these old coins and notes? They were both replaced … All bank notes issued by the Bank of England retain their face value forever. Do you have a story for The Sun Online news team? It's been almost a year since paper fivers were pulled from circulations and replaced with polymer notes - but what do you do if you still have the old notes? Send it with your banknote(s) and photocopies of ID (one photo ID and one proof of address) for any exchange (mandatory for any exchange of £700 or more) to Department NEX, Bank of England, Threadneedle Street, London EC2R 8AH. valid photo card driving licence (full or provisional), national identity card (if you are a non-UK national), valid photocard driving licence (full or provisional) – if you haven’t used this as proof of ID, utility bill or certificate from utility supplier (dated within the past six months), Council Tax bill (dated within the past six months), bank, building society or credit union statement or passbook (dated within the past six months), local council rent card or tenancy agreement, benefits book or letter from the benefits agency (dated within the past six months), telephone bill (excluding mobile phones, dated within the past six months), credit card bill (dated within the past six months), HM Revenue and Customs tax notification (dated within the past six months), Jobcentre Plus letter confirming your National Insurance number. 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