Can you pay old twenty pound notes into your bank account in 2012?

Answer 1

The "grace period" for the Elgar Twenty Pound note is well over, however, the bank with which you hold an account may accept them at their discretion, although there is no obligation on them to do so.

Failing that, the Bank of England has a stated policy of accepting their old withdrawn banknotes and replacing them with an equivalent value of current banknote.