Time is running out for you to spend your old £5 notes 4 years ago

Time is running out for you to spend your old £5 notes

Four months on from its release, we've had more than enough time to become accustomed to our new £5 note.

As well as spending the things, plenty of us have also carefully examined them for any lucrative miniature engravings. We've also had ample time to establish that they are indeed indestructible (well, almost).


Now that the novelty's wearing off a bit, it's worth reminding ourselves that the days are numbered for its predecessor - the humble, destructible, miniature engraving-free, old fiver.

While there's still thought to be an incredible 165 million old notes in circulation, their time as legal tender is running out with the deadline for getting shut of any of them set for May 5 of this year.

If you find any old fivers knocking around after this date, you'll need to take them to your nearest bank, building society or Post Office. As pointed out by WalesOnline, many banks will refuse to exchange the notes after May 5 but the Bank of England will. Legally, they *have* to.

With the Bank of England, the notes retain their face value forever, which means there's no need to worry if you find an old fiver stuffed in the pockets of an old pair of jeans some time in 2048.

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