When do you have to spend your old £5 notes by?

By Alicia Lloyd

Check old purses, savings jars, draws and even old jacket pockets the date has been released that you have to spend your old paper £5 notes by.

On 5th May 2017, the ‘old’ paper five pound notes will cease to exist as legal tender, which means you can no longer spend them.

You can expect to see the new plastic  £10 note in the summer of 2017. Jane Austin is set to replace Charles Darwin on the back of the note. At this time there are no women on The Bank of England’s notes, the pride and prejudice author is to be the first woman printed on notes of recent times, other than the Queen.

The Bank of England caused controversy when they announced Winston Churchill would be on the face of the plastic £5 note, replacing the only other woman on British tender.

There is set to be a plastic £20 note in 2020, this time featuring the image of   painter J.M.W. Turner.

There have been no plans mentioned of a plastic £50 note, but seeing as these are becoming the normal tender it surely won’t be long until it’s released.

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