The new £20 note | Read more E ven if a bank refuses to accept discontinued notes, there is one final option. Released in February 2020, the new note replaces the current £20 paper note… Doesnt anywhere just change money anymore? To exchange an old tenner, people can either post the notes to the Bank of England, or visit the Bank in person in the City of London. Banks and Post Offices may stop providing this service eventually. I only want to change the notes into £20 notes not to deposit them into my account. Hello, Where could I change £50 notes, the post office wont do it, my bank will only do it if they credit it to my account then debit my account!! The new note will come into circulation on February 20, 2020. There are over two billion £20 notes in circulation – but don't worry, you can carry on spending your paper twenties as normal for the time being. But at the moment, so long as you’ve got two original forms of ID, you shouldn’t have a problem changing your old notes. When are the old paper £20 notes being phased out? Your nearest Post Office might also be able to help you. The Post Office will typically accept notes after they have ceased to be legal tender. But old bank notes retain their value for all time, so while you can no longer spend them on the high street, you can return them to the Bank of England, or most major banks if you're a customer, and get a new polymer banknote in exchange. The new £20 note will enter circulation by 2020 and as with the next £5 and £10 notes will be printed on polymer (Photo: Bank of England/PA Wire) How long is the old £20 note valid for? This means you can take your old £10 notes to a bank, building society or Post Office and exchange them for a new polymer version. The UK introduced a brand new plastic £20 note in February which followed in the footsteps of upgrades made to the £5 and £10 notes. 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