# One year left to spend or donate paper £20 and £50 notes - Link: https://fundraising.co.uk/2021/09/30/one-year-left-to-spend-or-donate-paper-20-and-50-notes/ - Published: 2021-09-30T16:51:56+01:00 - Author: Howard Lake **One year today, on 30 September 2022, the Bank of England will with the ‘legal tender’ status of the ‘paper’ £20 and £50 notes. It is encouraging anyone who has these – there is about £24 billion in circulation – to spend them or deposit them at their bank or the Post Office.** These banknotes are being replaced with the new polymer notes introduced over the past few years – the £20 notes featuring [JMW Turner](https://fundraising.co.uk/2016/04/27/jmw-turner-appear-next-20-note/) and the £50 notes featuring [Alan Turing](https://fundraising.co.uk/2019/07/16/alan-turing-to-feature-on-new-50-note/). The new polymer £20 was first issued on 20 February 2020, and the polymer £50 note was first issued on 23 June 2021. These notes complete the Bank of England’s first polymer series. ## Advertisement After 30 September 2022 the new polymer notes will be the only ones with legal tender status. ## £24 billion available! The Bank of England estimates that there is **£9 billion worth of paper £20 notes** and **£15 billion worth of paper £50 notes** that are still in circulation. Those are the ones with respectively Adam Smith and Boulton & Watt on the reverse. ![£20 notes - detail - photo: Howard Lake](https://wfay6x.infiniteuploads.cloud/ 2010/03/20_pound_notes.jpg) Paper £20 note (detail). Photo: Howard Lake Given the success of previous [#FirstFiver](https://fundraising.co.uk/2016/09/27/firstfiver-charities-responded-simple-fundraising-idea/) and #LastFiver campaigns, and similar initiatives around the withdrawal and introduction of other banknotes, there is certainly an opportunity for charities to invite the public to donate some of that huge sum to charity within the next 12 months. ** SEE ALSO: [Fundraising opportunities from new and old banknotes and coins in 2017](https://fundraising.co.uk/2017/03/07/fundraising-opportunities-new-old-banknotes-coins-2017/)**( 7 March 2017) So charities will continue to receive paper £20s and £50s up until the deadline a year away, whether directly asked for or not. If you need reminding of [how to check whether a banknote is genuine or not](https://www.bankofengland.co.uk/banknotes/counterfeit-banknotes/how-to-check-your-banknotes), the Bank of England shares guidance. ## After 30 September 2022? While the deadline of a year today is fixed, it will still be possible after 30 September 2022 to deposit a withdrawn paper note, provided you have a UK bank account. Some Post Offices may also accept withdrawn notes as payment for goods and services or as a deposit to an account accessed via them. In addition the Bank of England will always continue to [exchange any withdrawn banknote](https://www.bankofengland.co.uk/banknotes/exchanging-old-banknotes), including by post. > The last day you can use our paper £20 and £50 notes is 30 September 2022. Even > if you do find you have notes, that have been withdrawn from circulation, they > do retain their face value for all time and can be exchanged with us. Please see: > [https://t.co/kbQW6g3XtK](https://t.co/kbQW6g3XtK) > — Bank of England (@bankofengland) [September 28, 2021](https://twitter.com/bankofengland/status/1442845651415576590?ref_src=twsrc%5Etfw) ## ⏎ Scottish and Northern Ireland banknotes The Bank of Scotland and Royal Bank of Scotland have also issued new polymer £50 notes.   Both of these issuers, as well as Clydesdale Bank, [will withdraw their paper £20 and £50 banknotes](https://www.acbi.org.uk/banknotes.html) on the same date as the Bank of England, 30 September 2022.  So the overall value of £20 and £50 paper banknotes across the UK is going to be higher even than £24 billion. ## More banknote fundraising * **[#FirstFiver campaign may have raised £12.5m says CAF research](https://fundraising.co.uk/2016/11/14/firstfiver-campaign-may-raised-12-5m-says-caf-research/)( 14 November 2016)** * **[Fundraising opportunities from new and old banknotes and coins in 2017](https://fundraising.co.uk/2017/03/07/fundraising-opportunities-new-old-banknotes-coins-2017/)( 7 March 2017)** * **[Jane Austen to appear on new £10 note](https://fundraising.co.uk/2013/07/25/jane-austen-appear-10-note/)( 25 July 2013)** ## Comments ### By: HowardLake - Link: https://fundraising.co.uk/2021/09/30/one-year-left-to-spend-or-donate-paper-20-and-50-notes/#comment-4017 - Published: 2021-10-04T11:33:46+01:00 Here’s the National Zakat Foundation promoting the opportunity: [https://twitter.com/NZF\_org\_uk/status/1444424326862807045](https://twitter.com/NZF_org_uk/status/1444424326862807045) ### By: HowardLake - Link: https://fundraising.co.uk/2021/09/30/one-year-left-to-spend-or-donate-paper-20-and-50-notes/#comment-4236 - Published: 2022-06-23T08:12:30+01:00 Just 100 days left to spend the last paper banknotes: [https://www.theguardian.com/business/2022/jun/23/only-100-days-left-to-use-paper-20-and-50-notes-says-bank-of-england](https://www.theguardian.com/business/2022/jun/23/only-100-days-left-to-use-paper-20-and-50-notes-says-bank-of-england)