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27 Nov 2023

The former commissioner of the Metropolitan Police, Lord Hogan-Howe, has said number plates should be introduced on the back of bikes to stop so many cyclists being a danger on...

23 Nov 2023

Retail sector leaders have expressed a range of concerns, from taxation to business rates, following the Chancellor’s Autumn Statement this week.

15 Nov 2023

The British Independent Retailers Association (BIRA), which works with over 6,000 independent businesses of all sizes across the UK, has outlined its expectations from the government...

14 Nov 2023

ACT member and Cytech-accredited Stonehaven shop Bike Remedy has been given permission to expand its offering by building a bike shelter and tool station outside its premises.

14 Nov 2023

As more people turn to cycling, more jobs are being created in the industry, according to an article in The Sun.

14 Nov 2023

Cytech Training Scotland, proudly operated by Bike for Good, is thrilled to celebrate a year of remarkable achievements in providing top-notch Cytech bicycle maintenance training. Over the past...

14 Nov 2023

The ACT is urging any cycling retailers affected by technical issues being reported with the 'buy now, pay later' app Klarna to consider whether they may be better served by switching to an...

9 Nov 2023

Cytech has been named as the provider of Best Retailer Services in the 2023 BikeBiz Awards, recognising the positive impact of its service to the cycling industry. More than 25,000 Cytech...

2 Nov 2023

The Association of Cycle Traders (ACT) and the Bicycle Association (BA), the two cycle industry trade bodies in the UK, have issued a joint response to the initiative of the Electrical Safety...

2 Nov 2023

Cytech, the internationally recognised training and accreditation scheme for bicycle technicians, has relaunched its Cytech theory one online learning course delivering an introduction to...

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Paper £20 and £50 Notes No Longer Legal Tender

Posted on in Business News , Cycles News , Creative News, Outdoor News

Paper £20 and £50 notes are no longer legal tender.

money notes

There are approximately 163 million paper £50 banknotes and about 314 million £20 paper notes still in circulation. These are being replaced with the new polymer £20 notes featuring J.M.W. Turner, and polymer £50 notes featuring Alan Turing. The new polymer notes are now the only ones with legal tender status.

People with a UK bank account will still be able to deposit withdrawn notes into their account.

The new notes, which have been introduced over the last two years, complete the Bank of England’s first polymer series. The introduction of polymer banknotes allows for a new generation of security features which make them even harder to counterfeit. The notes are also resistant to dirt and moisture and so remain in better condition for longer. These notes also have tactile features that allow the blind and partially sighted to use them.

Retailers can download posters to display in store to remind customers about the withdrawal of paper £20 and £50 notes here.

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