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No, if you have a old £20 note you are able to take it to the Bank Of England and you change it for a current one.

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13y ago

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Is the value of the pound the same in Scotland and Ireland as in England?

The value of the pound is the same in England, Scotland, Wales and Northern Ireland although notes issued by Scottish and Northern Ireland banks aren't widely accepted by shops in England and Wales. The Republic of Ireland uses the Euro.


What are the English Pound banknotes?

The currency of the UK is the Pound Sterling (or more normally, just Pound). The Bank of England produces all of the banknotes for England and Wales, whilst several banks in Northern Ireland and Scotland produce notes to their own designs. Jersey, Guernsey and the Isle of Man also issue their own notes. The only notes in current issue in England are £5, £10, £20 and £50. Scotland, Jersey, Guernsey and the Isle of Man also have £1 notes. Scotland and Northern Ireland also issue £100 notes.


Why does the Bank of England issue a One Million Pound note?

The Bank of England has never issued a One Million Pound note for general circulation. Since the various note issuing banks of Scotland and Northern Ireland are backed by the Bank of England, the Bank of England produces One Million and One Hundred Million Pound notes for the use of the note issuing banks, so that they can hold equivalent values of Bank of England notes. They are strictly for internal use and have probably never been seen outside of the vault.


Does northern Ireland use the pound?

yes - the UK pound sterling - NI banks produce their own banknotes which can only be used in NI. Bank of England and Scottish notes are also used


How many notes do the Bank of England issue?

The Bank of England currently issues Five Pound, Ten Pound, Twenty Pound and Fifty Pound notes for Britain, plus a variety of banknotes for a number of other countries.


What kind of money do they use in Scotland?

The Pound Sterling - the same as the rest of the UK. However, there is a slight difference. Scottish Banks have the right to issue there own banknotes (in pounds sterling). Bank of England notes are widely accepted in Scotland but some places in England, particularly very small traders, may be unwilling to accept Scottish notes because they don't often see them and are unsure if they are genuine.


When were the last Sir Edward Elgar Bank of England Twenty Pound notes issued?

The Bank of England advises that the Sir Edward Elgar style Twenty Pound note was withdrawn on the 30th of June, 2010. After the 30th of June, most banks, building societies and Post Offices will accept the old notes for deposits and other transactions for a few months. Exchange of notes, other than for transactions and deposits is at the discretion of the institution concerned. There is no obligation on banks to accept the old notes. The Bank of England further advises that - Genuine Bank of England notes that have been withdrawn from circulation retain their face value for all time and can be exchanged at the Bank of England in London. There is no fee for this service. See the link below.


What is a sterling pound?

The pound sterling (GBP) (£) is the official currency of England and Wales and is the commonly accepted currency of Scotland and Northern Ireland. The pound sterling is contolled by the UK central bank, the Bank of England and is issued in banknotes by eight issuing banks in the United Kingdom and lower denominations in coins by the Royal Mint.


Can you spend a brown fifty pound note?

The Bank of England has yet to advise a date for the Sir John Houblon Fifty Pound note to be withdrawn. Some banks, building societies, and Post Offices will still accept the most recent of the notes withdrawn from circulation for deposit to customer accounts or exchange for current series notes however, this is at the discretion of the business concerned. The Bank of England will always accept old notes for face value in current notes. The Bank of England Fifty Pound note featuring Boulton and Watt on the reverse was issued in November 2011.


Does the Royal Bank of Scotland still make a One Pound note?

Scottish banknotes are not legal tender anywhere in the UK including Scotland, where the have the status of a Prommissory note. The Royal Bank of Scotland is the only bank still producing a One Pound note in Scotland. The notes are acceptable in Scotland. There is an agreement in place between banks, and the Scottish One Pound note should be accepted by English banks, but might be accepted by business and trades people in England.


Are pound notes still legal tender in Scotland?

No, pound notes are no longer legal tender in Scotland. They have been gradually replaced by pound coins and polymer banknotes. If you have any old pound notes, you can exchange them at a bank or post office.


What Type of Money Is Used in London?

UK unit of currency is the pound sterling divided into 100 pence.Technically it should be pennys, but most people refer to it as pence even in the singularCoins are available in values of 1,2,5,10,20,50 pence and 1 and 2 pounds. Notes are 5, 10, 20 and 50 pounds. There are some special issue £5 coins but not in general circulationSome Scottish banks issue their own notes of up to £100 - Scottish notes are often accepted in England although last time I heard they were not really legal tender.Prior to decimalisation (1971) the pound was divided into 20 shillings of 12 pence each.