NOTE WORTHY
When did the old £10 notes expire, can you still use them and how do you exchange them now they’ve been discontinued?
THE Bank of England launched its new state-of-the-art £10 polymer note in late 2017.
The old cotton paper notes have now expired and are no longer accepted as legal tender – here's what that means, and all you need to know about the changeover...
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When did the old £10 go out of circulation?
The old £10 note went out of circulation officially at 11.59pm on March 1, 2018.
However, old notes can still be exchanged at the Bank now that this point has passed.
Although the new tenners came in last year until the deadline the paper money continued to be legal tender so could be spent freely.
And a few shops ignored the deadline and decided to continue accepting the old tenners for a little bit longer.
The old paper fivers went out of circulation on May 5 last year.
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What happens if you haven't spent your old £10 note?
Now that the deadline has passed you won't be able to spend your notes in shops or restaurants.
If you want to swap the old notes over for new tender you will have to make the trip to a bank, building society or Post Office.
You will need to be an account holder with the bank for them to exchange the note.
You can use your local Post Office to deposit the old tenners into your bank account too.
It is possible that a high street bank will stop exchanging them after the cut-off date but The Bank of England is legally obliged to.
You can either do this in person or via post. Although if you post it to The Bank of England, you do so at the “sender’s risk”.
If you are exchanging large amounts of old £10 notes, you may be asked to provide identification, such as a passport or driving licence.
MOST READ IN MONEY
When did the new £10 note go into circulation?
Production of the new £10 note began last August.
The new polymer currency was released into circulation on September 14, 2017, and features author Jane Austen.
From March 2017 new £1 coins were introduced as currency in the UK.
The new 12-sided coin phased out the old round one.
The new tenner will be followed by a new £20 note which will feature the British painter JMW Turner.
Bank of England unveil the key security features on the new £10 'Jane Austen' note
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