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. Claims must be paid into a bank account. However, we give cash for these withdrawn Bank of Scotland banknotes free of charge. Any claims of $1000 or more will need to be discussed with a … The £20 banknote contains the words ‘Bank of Scotland’. When do the old £20 notes expire? The Bank of England currently hasn’t said when old £20 notes will expire - this means that you can still use old £20 notes if you have any. ... old banknotes and obsolete currencies to cash, quickly and easily. Even though the new notes have entered circulation, you can still spend your old notes. The Reserve Bank does not accept foreign currency. I bought a recent "limited edition" note (which whilst it is "legal tender" the bank never put them into general circulation) and even though it is only a 1 month olf £20 a USA shop offered £150 (I paid £20 and £2.50 p&p) Assuming you have a bank account, pay in the old £20 notes and withdraw the same amount of new ones. That’s because the Bank of England has said that old £20 notes are still being considered legal tender. You seem to be creating a problem where there really is none, unless the source of the current notes is dubious. What happens to the old paper £20 notes? Although it's a bit out of the way from most tourist attractions the Bank of England Museum is free and well worth a visit, and as you can exchange your old bank notes at the Bank it'll be even better than free! All bank notes issued by the Bank of England retain their face value forever. Currency can only be returned to the Reserve Bank in Wellington. The Bank of England has not yet announced the date the old £20 note will be withdrawn from circulation. Withdrawn Bank of Scotland notes are no longer a valid means of payment in Scotland or anywhere else in the UK. 22 February 2020 at 12:00PM. The Bank of England is yet to set a date for when the old £20 notes will no longer be valid, meaning you can still use them freely for now.. The Bank of England hasn’t yet set a date to withdraw legal tender status from paper £20 notes, as it did with the paper £5 and £10 notes. Adam Smith £10 and Boulton/Watt £20s are still valid. How to change old notes. 5. Oldbiggles Forumite. The Bank will give six months’ notice before it withdraws the old notes. A new plastic £20 banknote, featuring the artist JMW Turner, was released by the Bank of England on 20 February. Currency returns may take 10-20 working days to process. 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