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Withdrawal of old £5 note – what you need to know

On 5 May 2017 paper £5 notes will cease to be legal tender and will no longer be accepted by shops. The Bank of England will gradually start withdrawing paper £5 notes when they are banked by retailers and businesses. If, after May 2017, you still have some paper £5 notes and your bank, building society or Post Office is not willing to accept these notes they can be exchanged with the Bank of England by post or in person.

Future banknotes – the new polymer £10 note featuring Jane Austen will enter circulation in summer 2017.

The Bank of England provides free educational materials to help retailers identify genuine banknotes. More information about these can be found on the Bank of England website.

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