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11/04/2017
Bank Of England Paper £5 Note To Be Withdrawn From Circulation
Bank of England has announced that its paper five pound notes will be withdrawn from circulation on 05 May, 2017.
After this date the note will cease to be legal tender, however the Bank of England will continue to accept them, with no time limit applied. After this date it will be left to businesses to decide whether to continue accepting the notes.
After 05 May 2017 businesses in Northern Ireland will no longer have to accept the Bank of England paper notes, however, businesses should not continue to dispense the notes.
If businesses use cash handling machines, they are advised to contact the manufacturer to make any necessary adaptions. Businesses are also advised to train their staff about the withdrawal of the paper notes.
The Bank of England are also planning to replace paper £10 and £20 notes with polymer notes:
• the new £10 note will be issued in summer 2017 and feature Jane Austen
• the new £20 note will be issued by 2020 and feature JMW Turner
Three Scottish banks are also moving to polymer notes.
(MH/CD)
After this date the note will cease to be legal tender, however the Bank of England will continue to accept them, with no time limit applied. After this date it will be left to businesses to decide whether to continue accepting the notes.
After 05 May 2017 businesses in Northern Ireland will no longer have to accept the Bank of England paper notes, however, businesses should not continue to dispense the notes.
If businesses use cash handling machines, they are advised to contact the manufacturer to make any necessary adaptions. Businesses are also advised to train their staff about the withdrawal of the paper notes.
The Bank of England are also planning to replace paper £10 and £20 notes with polymer notes:
• the new £10 note will be issued in summer 2017 and feature Jane Austen
• the new £20 note will be issued by 2020 and feature JMW Turner
Three Scottish banks are also moving to polymer notes.
(MH/CD)
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Speculation rife on successor to BoE Governor
Speculation has already commenced as to who will succeed the current Governor of the Bank of England, Sir Edward George, 15 months ahead of the date of his retirement. Sir Edward's decade at the head of the Bank of England will draw to a close on 30 June 2003, marking the end of his second five-year term as Governor.
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Northern Ireland WeatherToday:A mostly cloudy start with scattered showers, the showers becoming more isolated and largely confined to the south this morning. Becoming brighter this afternoon, the best of any sunnier spells across northern counties. Northerly winds easing. Maximum temperature 12 °C.Tonight:A dry evening with late sunny spells and some long clear spells overnight. Becoming cloudier across the north towards dawn with a few showers possible. Touch of frost in south. Minimum temperature 0 °C.
