23/08/2022

Pounds Sterling and Swiss Francs? Don't keep these bills!

The Swiss National Bank and the Bank of England have recalled some banknotes that are no longer or soon will be legal tender. It is better to exchange them while it is still possible.

Pounds Sterling and Swiss Francs? Don't keep these bills!

Recall of old Swiss francs

The Swiss National Bank (SNB) has recalled the 8th series of banknotes as of April 30, 2021.

The bills of this series are therefore no longer legal tender. However, they can still be exchanged.

Below, the denominations of the 8th series:

Source: Swiss National Bank

The banknotes of the 6th series were recalled on May 1, 2000 and are no longer legal tender. They can also be exchanged.

Below, the denominations of the 6th series:

Source: Swiss National Bank

Paper Pounds Sterling

The Bank of England has announced that the £20 and £50 paper bills will no longer be legal tender after 30 September 2022.

Source: Bank of England

For the past year, the Bank of England has been issuing the £50 polymer bill featuring scientist Alan Turing, who would have celebrated his 109th birthday. This £50 bill has been added to the series of polymer bills. Now all denominations (£5, £10, £20 and £50) are printed on polymer (some kind of plastic).

The majority of the paper £20 and £50 bills have been replaced by the new polymer versions, but there are still over £6 billion worth of paper £20 bills featuring the economist Adam Smith and over £8 billion worth of paper £50 bills featuring the engineers Boulton and Watt in circulation. This represents more than 300 million £20 bills, and 160 million £50 bills.

Officially, 30 September 2022 will be the last day you can use your old £20 and £50 bills in English businesses such as stores, pubs and restaurants.

However, the Bank of England must give at least six months' notice before a banknote officially expires, to allow enough time to spend or exchange your bills before the expiration date.

You can exchange your £20 and £50 paper bills for euros without a deadline at this time. GFI is buying them without time limit with a discount on the normal rate.

Call us now at +32 2 513 92 40 or visit us between 9am and 4.30pm to exchange your old tickets.

The GFi team

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