Author Topic: £50 note withdrawn  (Read 2944 times)

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Online Maik

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£50 note withdrawn
« on: Tuesday, 29 April, 2014 @ 03:41:11 »
Bank of England to withdraw the Houblon £50 note in fraud crackdown

The £50 note which features a portrait of Sir John Houblon is to be withdrawn from circulation on Wednesday.

The Bank of England estimates that there are still 53 million of the notes in circulation, amounting to a value of £2.65bn.

Members of the public or business people who use the Houblon £50 notes are being urged to exchange them or deposit them at banks.

Barclays, NatWest, RBS, Ulster Bank and the Post Office have all agreed to exchange Houblon £50 notes for members of the public up to the value of £200 until 30 October 2014.

From May onwards, shops are unlikely to accept the older notes as payment. But the £50 banknote featuring Matthew Boulton and James Watt, introduced in 2011, will still be legal.

Legal tender: the 'new' Boulton & Watt £50 note: