Charles Darwin £10s were withdrawn at the start of last month and Eliz Fry £5 went last year. Withdrawn Bank of Scotland notes are no longer a valid means of payment in Scotland or anywhere else in the UK. However, we give cash for these withdrawn Bank of Scotland banknotes free of charge. 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. The Reserve Bank does not accept foreign currency. The £20 banknote contains the words ‘Bank of Scotland’. Adam Smith £10 and Boulton/Watt £20s are still valid. 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. A new plastic £20 banknote, featuring the artist JMW Turner, was released by the Bank of England on 20 February. Any claims of $1000 or more will need to be discussed with a … Claims must be paid into a bank account. Assuming you have a bank account, pay in the old £20 notes and withdraw the same amount of new ones. Even though the new notes have entered circulation, you can still spend your old notes. What happens to the old paper £20 notes? ... old banknotes and obsolete currencies to cash, quickly and easily. The polymer notes replace the old paper twenties, which have been in circulation since 2007 and feature economist Adam Smith – though you'll still be able to use the paper £20 notes in the months to come. All bank notes issued by the Bank of England retain their face value forever. You seem to be creating a problem where there really is none, unless the source of the current notes is dubious. Oldbiggles Forumite. Currency can only be returned to the Reserve Bank in Wellington. Some banks may allow you to deposit old notes directly into your account. 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offered £150 (I paid £20 and £2.50 p&p) The Bank of England has not yet announced the date the old £20 note will be withdrawn from circulation. How to change old notes. That’s because the Bank of England has said that old £20 notes are still being considered legal tender. 22 February 2020 at 12:00PM. The Bank will give six months’ notice before it withdraws the old notes. When do the old £20 notes expire? Currency returns may take 10-20 working days to process. Even though the new polymer £20 are also now available and can be withdrawn from cash machines, the old, paper £20 notes can still be used alongside the new ones for the time being. Find out what to do with old five pound notes in our guide below. 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