Bank of England reveals deadline day for swapping old £10 notes

Bank of England reveals deadline day for swapping old £10 notes

Bank of England reveals deadline day for swapping old £10 notes

Now, the Bank of England has confirmed that from March 1 2018, the old note will no longer be accepted as payment. Around 55 per cent of the £10 notes in current circulation are made from polymer, while the rest - 359 million - are paper.

The notes, featuring Charles Darwin, were introduced on the 7th November 2000, but have now been replaced by a polymer version - which gives pride of place to author Jane Austen. Now both the old paper £10 note featuring Charles Darwin and the polymer note are in circulation.

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After the March deadline, the old notes will only be able to be exchanged at the Bank of England. New five (you can see the portrait of Winston Churchill on it) is the new variation of the banknote, also shows the higher level of durability, it is also cleaner than old-fashioned paper notes.

Old notes can still be spent ahead of this date and you can exchange them at the Bank once this point has passed.

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The Bank added that the public can continue to use the old notes as normal as most paper £10 notes will be automatically removed from circulation.

The new £10 and £5 notes have encountered controversy because they contain tallow, an animal byproduct. Changing production would also involve considerable extra costs to taxpayers.

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"The note will also include a new tactile feature on the £10 to help the visually impaired, ensuring the nation's money is as inclusive as possible".

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