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Last Christmas for paper £20 and £50 notes, warns Bank of England

Paper bank notes in Britain are to be phased out over the next year.

The old-style notes are being replaced with polymer alternatives.

Gradually, over the past six years, the country’s notes have slowly been withdrawn from issue.

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The fiver was the first to go.

The only paper currency in circulation that can be used are the £20 and £50 notes.

However, this will be their last Christmas.

A Bank of England statement said:

“Have you started Christmas shopping?

“Retailers can still accept your paper £20 and £50 notes until 30 September 2022.

“If you have any paper £5 or £10 notes tucked away, these sadly cannot now be spent.”

The polymer notes were introduced to stop forgers and are more durable to everyday wear and tear.

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