Thursday, June 03, 2010

SPEND YOUR £20 BEFORE THEY GO OUT OF DATE

COVENTRY spenders are being warned the clock is ticking to spend old £20 notes.

The Bank of England is reminding residents from June 30 the £20 note carrying a picture of composer Edward Elgar is to be finally withdrawn from circulation.

It will be replaced by £20 note that was introduced in 2007 that bears the picture of economist Adam Smith.

The number of Elgar notes in circulation has already decreased significantly since the withdrawal date was announced in March, but people are being reminded to have a final check at home for the old notes, which can be paid into a personal bank account or used as a cash payment over the coming month.

After June 30 the Elgar note will no longer have ‘legal tender’ status. It is less likely to be accepted in payment, or in change, in retail outlets after this date.

For more information visit www.bankofengland.co.uk/banknotes.

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