Time is running out to spend your old paper £5 notes before they become worthless.
On Friday, 5th May, the old notes will cease to be legal tender and you won’t be able to buy anything with them.
The Bank Of England estimates there to be approximately 165 million old notes still in circulation.
Shops have been told not to hand out the old notes as change to customers, if you are given one, you are within your rights to ask them to exchange it for a new note or coins to the value.
You can swap your old notes at a bank, building society or Post Office. Bank of England notes keep their face value for allt ime, so don’t panic if you do miss the date or find a note in an old coat pocket next winter, The Bank of England are legally obliged to exchange your note.
A new £10 note will be released this summer, it will feature Jane Austen and there will be a new £20 note featuring British painter JMW Turner in three years time.
Meanwhile, the old paper notes will be recycled using a composting treatment.