Banknotes (2024)

The Bank of England banknotes.

There are two versions of the banknotes in circulation. One version featuring a portrait of King Charles III and one version featuring a portrait of Her late Majesty, Queen Elizabeth II.

There are four denominations of the banknotes in circulation: £5, £10, £20 and £50.

All four denominations of notes are printed on polymer.

The security features are the same on both the King Charles III and Queen Elizabeth II notes.

This film will run through those key security features found on all the notes. You should check these features to ensure notes are genuine.

There is a large see-through window.

A clearly defined portrait of either King Charles III or Queen Elizabeth II is printed on the window with the numerical value of the note and the words ‘Bank of England’ printed twice around the edge.

A metallic image is positioned over the window.

The foil is gold on the front of the £5 and £10 notes; gold and blue on the front of the £20 note; and gold and green on the front of the £50 note. The foil is silver on the back of all notes.

On the £20 and £50 notes there is a second, smaller window in the bottom corner of the note.

Below the main see-through window on the front of all the notes, there is a silver foil patch containing a hologram. When you tilt the note from side to side, the words change between the value of the note and ‘Pounds’.

A 3D image of the coronation crown appears above the main see-through window.

On the back of the notes, directly behind the silver crown on the front, there is a metallic, foil patch.

The foil is green on the £5 note, copper on the £10 note, purple on the £20 note and red on the £50 note.

On the front of the notes, you can feel raised print. For example, on the words ‘Bank of England’ and in the bottom right corner.

Under a good quality ultra-violet light, the numerical value appears in bright red and green on the front of the notes, against a duller background.

The Bank of England banknotes

Banknotes (2024)

FAQs

How long will Queen's money be valid? ›

The Bank of England has announced it will begin circulating bank notes with the image of King Charles III from June 5 this year, 2024. That means that, at some point, notes featuring the image of his mother Queen Elizabeth II will no longer be usable.

How do I get rid of my old 20 pound notes? ›

Exchanging old notes at the Post Office

The Post Office Opens in a new window will accept most old notes as a deposit into any UK bank account you can access with them. There are also 47 Post Office branches across the UK that will swap old banknotes, even if you do not have a bank account.

What does banknote mean? ›

A banknote is a negotiable promissory note which one party can use to pay another party a specific amount of money. A banknote is payable to the bearer on demand, and the amount payable is apparent on the face of the note.

Where can I exchange old bank notes? ›

Many banks accept withdrawn notes as deposits from customers. The Post Office will also accept withdrawn notes as a deposit into any bank account you can access at the Post Office.

How long will paper money last? ›

How long is the lifespan of U.S. paper money?
DenominationEstimated Lifespan*
$16.6 years
$54.7 years
$105.3 years
$207.8 years
3 more rows
Mar 9, 2020

What to do with old currency? ›

Here are some ideas for what you could do with your old foreign currency:
  1. Use it on your next trip. ...
  2. Give it as a gift. ...
  3. Sell it online. ...
  4. Save it and wait for it to become a collectible. ...
  5. Frame it. ...
  6. Put it in your travel journal. ...
  7. Start a collection. ...
  8. Donate to charity.
Jun 7, 2024

Can you still change old 20 notes in 2024? ›

There is currently no time limit when it comes to exchanging your old UK banknotes at the Bank of England.

Do banks still take old notes? ›

Many banks will still accept old notes as deposits from customers. And again, you might be able to pay them into your bank account at the Post Office.

Can I still return old 20 notes to the bank? ›

This note replaces our paper £20 note which was withdrawn from circulation after 30 September 2022. You may be able to deposit withdrawn notes at your own bank or with the Post Office. Alternatively, you can exchange withdrawn banknotes with selected Post Office branches or with the Bank of England.

What is the US slang for a dollar banknote? ›

greenbacks. The slang greenbacks for US paper bills dates back to the Civil War when the government began using green ink on the reverse side of banknotes to attempt to thwart counterfeiters.

What is the most valuable banknote? ›

Here are the five most valuable American paper bills still in circulation today.
  • The 1861 $1,000 Bill. The $1,000 bill holds the record for being the largest denomination ever printed for public consumption. ...
  • The 1928 $500 Bill. ...
  • The 1950 $100 Bill. ...
  • The 1862 $50 Bill. ...
  • The 1933-34 $10 Bill.
Nov 5, 2023

Why is money called C notes? ›

"C-note" is slang for a $100 bill. The term was derived from the Roman numeral "C" for 100.

Are old banknotes worth anything? ›

While rare serial numbers often generate interest, banknotes will only ever be worth their face value to us.

Will banks accept 5 coins? ›

However, please note that, whilst the coins are legal tender, banks are not obliged to accept the coins (please refer to guidelines on legal tender status).

How long will the old notes be in circulation? ›

Once the 30 September 2022 deadline has passed, people will no longer be able to spend paper notes in shops or use them to pay businesses.

What is a Queen Elizabeth coin worth? ›

This coin, minted to mark the one-year anniversary of the Queen's death, is worth $23 million. It's called "The Crown."

Can you still exchange old Pound coins? ›

Many high street banks let you deposit old £1 coins into your bank account or trade them in. Just be aware that this is done at your bank's discretion – as these coins are no longer legal tender, they aren't under any legal obligation to accept them.

Are King Charles notes worth anything? ›

Some of the earliest banknotes featuring the King, which went into circulation in June, have sold at auction for more than 11 times their face value as collectors look for notes as close to the 00001 serial number as they can find.

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