Paper £5 notes to be refused in shops from this weekend
You may have heard the rumours swirling around about old £5 notes becoming worthless very soon, but this isn’t quite the case!
Millions of the new polymer £5 notes entered circulation last September and since then it’s been rumoured that the old version of the notes will eventually lose their value. Well now it’s been reported that from this weekend onwards shops and retailers can refuse the old notes.
The Bank of England has announced that a whopping 150 million of the old paper £5 notes are still in circulation – that’s roughly about three for every adult in the UK!
So if we can’t use these in the shops, what are we supposed to do? Well if you have any paper £5 notes tucked away in your purse or down the back of the sofa, you will need to take it to your bank for it to be exchanged for a new one.
Or if you don’t fancy heading down to the bank, why not take the opportunity to treat yourself in the shops before it’s too late?