You’ve Got a Week Left To Spend the Old £10 Note
- Old £10 notes go out of circulation next week
- Shops will no longer accept them
- Over 200 million old notes in circulation
If you’ve got any of the old £10 notes lying around, you’ve got a week to spend them before they’re no longer legal tender.
The Bank of England, which is responsible for all bank notes in the UK, brought out the new polymer £10 note in September 2017, and has been gradually phasing out the old paper notes since.
However, around 211 million paper notes are still in circulation, worth in excess of £2.1 billion.
These notes will no longer be legal tender after Thursday 1st March, which means shops are no longer obliged to take them.
But you’ll still be able to trade them in for new notes at the Bank of England and some high street banks.
For anyone who still has the old £10 notes lying around, there is no time limit on how long they can keep the notes before trading them in, so if you find one in a few months times you’ll be able to trade it in.
The Bank of England said on Thursday that the notes will retain their face value for "all time," meaning you can exchange your old notes for new ones at the Bank of England in London (by post or in person), if your bank or post office refuses to do it themselves. The new £10 note, which features an image of Jane Austen, and is made from a sophisticated polymer, compared to the old paper notes.