The current polymer note, first issued on 20 February 2020, bears the image of Queen Elizabeth II on the obverse and the image of painter J. M. W. Turner on the reverse.
Old five pound notes, tenners and pound coins are no longer legal tender, but plenty of small businesses have some knocking around. (Image: GETTY) The new £10 and £5 notes have encountered controversy because they contain tallow, an animal byproduct. It is the second highest denomination of banknote issued by the Bank of England. The Bank of England £20 note is a banknote of the pound sterling. Read on to find out what makes it different, what to do with your old £20 notes and how to spot a rare new or old £20 that could be valuable.
Cash of less than £20 will be exchanged for polymer notes.
[note 1] Gradually, these banks vanished through mergers, closures and take-overs, and their note issues went with them. Any old notes that no longer have legal tender status can be exchanged at the Bank of England itself at any time. The new bank notes follows suit of the old style £5 which went out of circulation in May, and the old £1 coin which is no longer legal tender. Under the Act, no new banks could start issuing notes, and note-issuing banks in England and Wales were barred from expanding their note issue. Who is on the new £20 note? British Pounds Exchange yours now The Pound Sterling is the currency of the United Kingdom of Great Britain and Northern Ireland since the Anglo-Saxon era. The name pound derives from Latin pondus, meaning ‘weight’. Here's what do with old five pound notes and tenners. Unveiled at the Turner Contemporary gallery in Margate last October, the new note features a self-portrait of JMW Turner, the 18th and 19th-century British artist … Customers of Lloyds Banking Group, which covers Bank of Scotland, Halifax, and Lloyds, can deposit old notes worth more than £20.