24/09/2019

NI Banknotes To Be Withdrawn From Circulation

All Northern Ireland paper £5 and £10 banknotes are set to be withdrawn from circulation in the next week.

The public are urged to spend or exchange any paper Bank of Ireland, Danske Bank or Ulster Bank notes they have in advance of the 30 September deadline.

These will be replaced by polymer notes from the three banks, which have been in circulation since February 2019.
News Image
Polymer delivers significant benefits over paper, particularly when combined with state of the art security features which make the notes much harder to counterfeit. Polymer is also stronger than paper and so notes will last longer, remain in better condition and deliver environmental benefits.

The Association of Commercial Banknote Issuers said the issuing banks will continue to accept old paper based notes after the deadline, which can be either deposited into a bank account or exchanged for polymer notes.

Separately First Trust Bank confirmed in February 2019 that they will cease their own note issuance by 30 June 2020 and will instead dispense Bank of England banknotes or sterling banknotes of equivalent value. First Trust Bank banknotes remain legal currency until 30 June 2022.



(JG/CM)

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