Old Tenners Now Old News

After 11.59pm TODAY (March 1st) our cotton paper £10 notes will no longer be accepted as legal tender. The Bank of England unveiled and launched its new state-of-the-art £10 polymer note in autumn last year.

Since the launch of the new ten-pound note last year, the older versions were still circulated and were spent freely. However, once the deadline has passed, notes will have to be exchanged at banks and post offices. The old fivers went out of circulation in May last year.

The new ten-pound note will feature renowned British novelist, Jane Austen who replaces naturalist Charles Darwin.

While you won’t be able to do your daily shop using that old tenner you found in your sock drawer, you will no longer ruin any in the washing machine as these polymer-made notes will now be water-resistant, tear-resistant and will no doubt last a bit longer in the average household.

You will have to be an account holder to exchange notes at the bank, and some high street banks may start refusing to do so. However, the Bank of England is legally obliged to, so you can do this either by post or in person.

The new ten-pound note will be followed by a new £20 note which will feature the British painter JMW Turner.

Are you worried that your cash flow is looking a bit thin? Come to CPA where we can free up your cash flow and make your business as resistant as polymer.

The Credit Protection Association is a credit management company established in 1914. If you supply goods or services on credit then we can help you!

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