Post office money update: Britons urged to check as paper £20 & £50 notes to become void | Personal Finance | Finance
People are being warned there are still billions of pounds in £20 and £50 banknotes lying around which will lose their legal tender in less than two months’ time.
After the deadline of September 30, Britons won’t be able to use these paper notes in shops and supermarkets, but they will be able to pay them into the Post Office.
Martin Kearsley, Post Office banking director, said: “There’s still billions of pounds worth of paper £20 and £50 banknotes hidden away in the usual, and unusual, places people store cash at home.
“My strong advice is to take some time over the Summer holidays and check if you’ve got any paper notes that you’ve been meaning to deposit and haven’t got round to it yet.”
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