The old paper £5 note will cease to be legal tender from 5th May 2017.
Don’t worry if you find any old paper £5 notes after this date: just take them along to your bank, building society or local post office and they should be able to exchange them for you. The Bank of England will always exchange notes.
It is not just the £5 that is receiving a new look, this summer we should see a new plastic £10 note and the old paper £20 note will disappear in 2020 again to be replaced by a plastic version.
March 2017 saw the introduction of a new style £1 coin and the old style round £1 coin will cease to be legal tender from 15th October 2017. Make sure you have spent all of yours by then as banks will not accept coins after this date and unfortunately they will be worthless.
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