On 20 February 2020 we issued a new polymer £20 note. altrendo images/Getty Images. Legal tender is a form of money that courts of law are required to recognize as satisfactory payment for any monetary debt. They can always be redeemed at the Bank of England even if discontinued. Signature of N.F. Size: 142mm x75mm Size: 5" x 2 1/2" (127mm x 64mm) Design: Roger Withington. Date first issued: 17 June 1948 We will announce the withdrawal date after we have issued our new polymer £20 note. After then the coins will no longer be legal tender. The Bank of England has said that unspent, paper, £20 notes are still legal tender. Legal Tender Deadlines. Printed by De La Rue & Co on banknote paper. In England, Scotland, Wales and Northern Ireland, all coins minted by the Royal Mint and authorised by Royal Proclamation are legal tender. Yes, you can still use the old £20 notes as they are accepted as legal tender. Size: 6 1/7" x 3 1/3" (156mm x 85mm) Colour: Mauve and grey Windowed thread on the front of the note. Design: Roger Withington. Legal tender across the UK. Press Spacebar or Enter to select. For example, 1p and 2p coins only count as legal tender for any amount up to 20p. Old £10 notes: Darwin paper banknotes are not legal tender from tomorrow. Colour: Blue While the paper £5 and £10 notes are no longer legal tender, they will always be accepted by the Bank of England. Beautician rips new plastic £5 note pulling it from piggy bank with tweezers – but it’s still legal Jo Wingfield, 33, opened up the ceramic jar to discover two more notes were also slightly torn Size: 5 5/16" x 2 3/4" (135mm x 70mm) Date first issued: 20 March 1981 Date first issued: Between 1725 and 1745 Size: Approx 8 1/4" x 5 1/4" (211mm x 133mm) First Bank of England £1 note to carry portrait of monarch. David and Belinda are very angry about this and are threatening legal action. Colour: Predominantly green Design: unknown. You may disable these by changing your browser settings, but this may affect how the website functions. While the paper £5 and £10 notes are no longer legal tender, they will always be accepted by the Bank of England. Printed on postage stamp paper. Date ceased to be legal tender: 1 March 2018 After then the coins will no longer be legal tender. Date first issued: 29 April 1992 Siobhan submitted a tender of “£100 lower than any other tender received” by post. Thanks! However, that’s not the be all and end all. This film will run through a number of key security features. Date ceased to be legal tender: 30 April 2014 Colour: Brown. Incorporated metal thread for first time: permanent feature since 1948. Design: Notes in earlier years are slightly smaller. Date ceased to be legal tender: 29 October 1962 Design: Early notes are slightly smaller. Extended the Bank Notes Act 1833 to make Bank of England notes under £5 in value legal tender; act also applied to Scotland, making English 10/- and £1 legal tender for the first time. Design: Harry Eccleston. When you tilt the notes from side to side, the words change between the value of the note and 'Pounds'. Size: 5 7/8" x 3 1/8" (149mm x 80mm) On 15 October 2017 a new 12-sided coin replaced the old pound coin. Date first issued: 1 March 1993 The new cupro-nickel coin was introduced on 21 April 1983 and the one pound note ceased to be legal tender on 11 March 1988. Date first issued: 23 October 1914 In February 2019 we issued new polymer £5 and £10 notes which replace the paper notes of the same denomination. Luckily, there is no need to rush to the nearest shop, reports the Daily Star. There are £5, £10 and £20 notes printed on polymer. Design: Roger Withington. Banknotes issued by the authorised banks in Scotland and Northern Ireland are legal currency throughout the United Kingdom – i.e. In recent years, the UK’s seen new pound coins, £5 notes and £10 notes, with further changes to come. Notes: In England and Wales the £5, £10, £20 and £50 notes are legal tender for payment of any amount. 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. Date first issued: 1759 In England, the £5, £10, £20 and £50 notes are legal tender for payment of any amount, as well as coins from the Royal Mint, which makes coins in the UK. The UK's central bank, the Bank of England, prints notes which are legal tender in England and Wales; these notes are also usable as money (but not legal tender) in the rest of the UK … Press Spacebar or Enter to select, © Bank of England. Some security features are common across all current Bank of England banknotes. Size: 6 5/8" x 3 3/4" (169mm x 95mm) The new polymer £20 banknote will be issued in 2020, with the portrait of J.M.W Turner printed on it. Each jurisdiction determines what is legal tender, but essentially it is anything which when offered ("tendered") in payment of a debt extinguishes the debt. Date ceased to be legal tender: 11 March 1988 Bank of England £1 notes are still occasionally found in circulation in Scotland, alongside Royal Bank of Scotland £1 notes. Legal Position. Colour: Predominantly green Scottish Bank notes aren’t actually legal tender! Together they are worth about £71 billion. Necessary cookies enable core functionality on our website such as security, network management, and accessibility. Michael Faraday portrayed on the reverse; 'windowed' thread. Colour: Green Size: 5 1/2" x 3 5/16" (140mm x 85mm) Bank of England notes are not legal tender in Scotland and Northern Ireland, but are accepted there along … Colour: Red-brown Colour: Black on white (printed on one side only) Date ceased to be legal tender: 20 September 1996 £500 notes issued by some Bank of England Country Branches from 1826. Sir Christopher Wren portrayed on the reverse. Signature of N.F. There are certain rules for smaller value coins and how many can be used at once. Legal tender status (the IOM's definition of which is akin to the UK) of the 10 shilling, 50p and £1 polymer notes continued until 31 October 2013, and these notes remained in circulation (albeit rarely seen) until this date, after which they remain exchangeable at branches of the Isle of Man Bank. Printed by Waterlow Bros. and Layton from plates by Eyre and Spottiswoode. On the front of any of the notes, you can feel raised print. Size: 5 7/8" x 3 5/8" (150mm x 93mm) (2) All bank notes issued under this section shall be legal tender in England and Wales, and all such notes of denominations of less than five pounds shall be legal tender in Scotland and Northern Ireland. Of the eight banks authorised to issue banknotes in the UK, only the Bank of England can issue banknotes in England and Wales, where its notes are legal tender. Date ceased to be legal tender: 21 November 2003 Date ceased to be legal tender: 11 March 1988 Features helmeted Britannia on front. Size: 5 7/16" x 3 1/16" (138mm x 78mm) Colour: Monochrome (printed on one side only) Paper currency is a common form of legal tender in many countries.. Below the large see-through window on the front of the notes, there is a silver foil patch containing a hologram. Size: 5 9/16" x 2 15/16" (142mm x 75 mm) About the new 50-krone note . Date first issued: 21 February 1963 Windowed thread on the back of the note. Date ceased to be legal tender: 16 April 1945 The Bank of England banknotes. It does not mean that any ordinary transaction has to take place in legal tender or … Legal tender has a very narrow and technical meaning in the settlement of debts. The term ‘legal tender’ has a narrow technical meaning which doesn’t necessarily stop you from spending them. Colour: Green and brown. qualifies for the term 'legal tender' north of the border and the Scottish economy seems to manage without that legal protection.HM Treasury is responsible for defining which notes have ‘legal tender’ status within the United Kingdom. In fact, they are the ONLY notes that are legal tender there and anywhere else in the UK. Additional security features: foil hologram, an ultra-violet feature and micro-lettering. Colour: Monochrome (printed on one side only) Design: Issued also by Bank of England Country Branches from 1826. Design: Re-issue of unthreaded pre-war notes. Size: 5" x 2 ½" (127mm x 64mm) Design: Robert Austin. James Watt invented the modern steam engine, and in 1775, he partnered with Matthew Boulton to start a British engineering and manufacturing firm. Size: 5 5/16" x 2 3/4" (135mm x 70mm) Bank of England withdrew low-denomination notes in 1969 and 1988, removing legal tender from Scotland. It’s recommended that you do not accept damaged coins, or you may get stuck with them. The old five pound note ceased to be legal tender on 5 May 2017. Design: Roger Withington & Andrew Ward. Date ceased to be legal tender: 16 April 1945 Date first issued: 20 February 1975 Date first issued: Between 1725 and 1745 Getty Images When do round pounds stop being legal tender? Design: Reynolds Stone. Design: Roger Withington. There are four denominations of banknotes in circulation: £5, £10, £20 and £50. There are over 3.9 billion Bank of England notes in circulation. The old £5 note stopped being legal tender on Friday May 5, 2017 Credit: EBay ... Email us at tips@the-sun.co.uk or call 0207 782 4368. Colour: Brown Colour: Monochrome (printed on one side only) Size: 5 5/16" x 2 5/8" (135mm x 67mm) When paper banknotes are held up to the light, there is a bright denomination at the top of the Queen's portrait in the watermark. Colour: Pale blue and orange You will still be able to use the paper £20 note until we withdraw it from circulation. THE Bank of England launched its new state-of-the-art £10 polymer note in late 2017. Colour: Predominantly brown Date ceased to be legal tender: unknown There are £5, £10 and £20 notes printed on polymer. New 100-krone note (series VIII) Main motif: The Gokstad ship. Size: 5 7/8" x 3 ¼" (149mm x 83mm) "Don’t worry, you can still use the paper £20 note for now," the Bank of England's site reads. Date first issued: Between 1725 and 1745 Coins: Coins are legal tender throughout the United Kingdom for the following amount: £100 - for any amount. Colour: Black on white (printed on one side only) You can still spend, deposit or donate old £1 coins until 23:59 on Sunday 15 October 2017 as normal. There are four denominations of banknotes in circulation: £5, £10, £20 and £50. Colour: Multicoloured (predominantly mauve-purple) Printed by De La Rue & Co on banknote paper. Date first issued: 1725 We will give six months’ notice of this withdrawal date. Design: £300 notes not issued by Bank of England Country Branches. Colour: Brown and green. they are approved by the UK Parliament. The Bank of England banknotes. About the new 200-krone note. Our notes are designed to be difficult and time consuming to copy. Date ceased to be legal tender: 28 May 1962 Colour: Monochrome (printed on one side only) By clicking ‘Accept recommended settings’ on this banner, you accept our use of optional cookies. Generally, the Post Office will continue to accept the notes as a deposit into any main UK bank account even after the notes cease to be legal tender. Legal Position. Bank of England withdrew low-denomination notes in 1969 and 1988, removing legal tender from Scotland. Date ceased to be legal tender: 28 May 1962 Exchanging old notes. Well, the Bank of England states that only its banknotes are ‘legal tender’ in England and Wales. It means that a debtor cannot successfully be sued for non-payment if he pays into court in legal tender. Date first issued: 1725 Colour: Multicoloured (predominantly turquoise-blue) Legal tender is a medium of payment allowed by law or recognized by a legal system to be valid for meeting a financial obligation. Wholesale cash distribution in the future. Size: 5 ½" x 2 5/8" (140mm x 67mm) It’s worth stating as you may hear people talking about it, maybe differentiating it from “legal currency” and saying it means that a shop has to accept “this legal tender banknote”. The following notes and coins are legal tender. We use analytics cookies so we can keep track of the number of visitors to various parts of the site and understand how our website is used. Date first issued: 22 November 1928 Colour: Brown Colour: Revised version issued - colour of denomination symbol "£5" in top-left corner changed to bolder dark blue/green (front) and stronger olive/drab colour (back) Date ceased to be legal tender: unknown Size: 5 7/16" x 3 1/16" (138mm x 78mm) Colour: Red on white (printed on one side only) Date first issued: 22 October 1918 Warren Fisher from September 1919. Size: 5 3/8" x 3" (136mm x 76mm) Necessary cookies enable core functionality on our website such as security, network management, and accessibility. Colour: Monochrome (printed on one side only) The rules around the legal tender status of coins in the UK are set out in the Coinage Act 1971 and the Currency Act 1983. The following security features are found on the polymer notes. Design: Incorporated metal thread for first time: permanent feature thereafter. Generally, the Post Office will continue to accept the notes as a deposit into any main UK bank account even after the notes cease to be legal tender. Size: 6 5/16" x 3 9/16" (160mm x 90mm) That is why we work hard to ensure our notes are high quality, durable and difficult to counterfeit. Date first issued: 7 August 1914 Date ceased to be legal tender: unknown Date ceased to be legal tender: 1 March 1946 Design: W M Keesey and others. Date ceased to be legal tender: unknown Date first issued: 14 August 1914 Exchanging old notes. Date first issued: 1759 Bank of Ireland (UK) plc issues banknotes in denominations of £5, £10, £20, £50 and £100. "Don’t worry, you can still use the paper £20 note for now," the Bank of England's site reads. Date ceased to be legal tender: 29 November 1991 And £20 and £50 notes printed on paper. New Scottish £10 note isn't legal tender in England OR Scotland ... Carmichael wants to encourage businesses across the UK to recognise and accept Scottish banknotes with his legal tender bill. Confidence in banknotes is important for keeping the whole economy functioning. Printed on postage stamp paper. Size: 7 11/16" x 4 11/16" (195mm x 120mm) Coins up to 50p have a limit to the amount of debt they can be used to repay. Printed by Waterlow Bros and Layton on banknote paper. Issued also by Bank of England Country Branches from 1826. Size: 6 1/4" x 3 1/2" (158mm x 90mm) Date ceased to be legal tender: 27 June 1967 Design: Roger Withington. You may disable these by changing your browser settings, but this may affect how the website functions. 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