image via Bank of England

If you were a frequent traveler to England or like to keep foreign currency, this may interest you. The Bank of England (BoE) has announced that come October 1, 2022 the paper £20 and £50 notes will be worthless.

According to Yahoo UK, BoE is “urging anyone who has these at home to spend or deposit them at their bank or Post Office. There are approximately £9bn ($12bn) worth of paper £20 and £15bn worth of paper £50 notes still in circulation, the Bank said.”

Come October 1, the paper £20 and £50 notes will be “replaced with the new polymer £20 notes featuring JMW Turner, and polymer £50 notes featuring Alan Turing.”

I used to keep a little change purse of bank notes from all around the world, especially when I was traveling like a madman. But that was a decade ago and a lot has changed since then. These days, I rarely even take money out of the ATM since the fees are so high and I pay for everything with a credit card that doesn’t have foreign transaction fees (here are some to consider).

Come to think of it, on my last trip to London, I spent a week there with my wife, son and mother-in-law and I didn’t even take out my credit card. I paid everything with my phone using Apple Pay. Times have changed, eh?

Here are some key facts about the deadline and the security features of the new notes.

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5 Comments On "Got Foreign Currency Lying Around? These Notes Are About to Be Worthless"
  1. Georgia|

    I have money left over from Prague and Tanzania trips. Could you please tell me where to exchange for US $. Thanks

    1. Johnny Jet|

      Good question! Exchange places and banks usually rip you off. I would wait until you go or see if a friend who is going wants to exchange

  2. Susan|

    How can I exchangepound notes 100 at Us bank w/o lossing alot???
    Is the us bank the best if cant travel ??

    1. Johnny Jet|

      Good question! Exchange places and banks usually rip you off. I would wait until you go or see if a friend who is going wants to exchange

  3. Fred|

    The English notes will not be worthless,just not anymore in daily circulation.
    You can exchange any old English paper money at the Bank of England for full Vance value.
    If you have current papermoney from main countries try the casino cashiers in Vegas!!!

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