When does the old 50 pound note expire?
The Bank of England has released the new plastic 50 note featuring Alan Turing into circulation. 2 The old 50 note can still be exchanged when it goes out of circulation Credit: PA  The new 50 is the last of the new plastic notes to go in to circulation, following the 20, the 10, and the 5 bank notes. For the first time all notes will have a version that is made of a polymer, which makes cash more secure and and durable compared to old paper notes. There are two windows and two-colour foils which make the note more difficult to fake, while the polymer material is waterproof and harder to rip, making them last longer. Plastic notes have been replacing paper versions since 2016 when the new 5 was rolled out. The new 50 features famous second world war codebreaker Alan Turing and was released on June 23, 2021, which is Turing's birthday. Turing on the 50 note joins Winston Churchill on the 5 note, Jane Austen on the 10 note and JMW Turner on the 20 note. There are currently 300 million 50 notes in circulation, with a combined value of 16.5billion. Old paper 50 notes can continue to be used after the new polymer Alan Turing version has been released into circulation. The paper 50 note was first issued on November 2, 2011 and it features Matthew Boulton and James Watt. The English manufacturer and Scottish engineer joined forces to produce marine and stationary steam engines. The Bank of England has said these 50 notes can be used until September 30 2022. The note will be withdrawn from circulation from this date. The old 20 note will also be withdrawn from this date too. A new plastic 20 featuring artist JMW Turner went into circulation in February 2020. Shoppers will either need to spend or deposit into a bank old 50 and 20 notes before September 30 2022. Until then, you can use either of the 50 notes - paper or polymer - when you're paying in shops and other locations. Anyone who misses the date for spending or depositing the old paper 50 note won't lose out. The BoE give at least six months notice of a notes official use expiring and after that, you can still exchange it for the equivalent legal tender. You will be able to exchange it for a new one at certain places and this is the same for any other old notes you have knocking about. 2 The Bank of England exchanges old notes for new ones Credit: PA:Press Association  Old paper 5 notes ceased to be legal tender from May 2017 and the paper 10 note was withdrawn in March 2018. The old 5 featured Elizabeth Fry and the old tenner had the face of Charles Darwin on it. You can also continue using the old 20 note as this hasn't bee withdrawn yet. If you have an old note that is no longer in circulation, you can exchange it for a new one. Many banks will still accept them as deposits from customers. The Post Office may also accept withdrawn notes as a deposit into any bank account. And you can always exchange withdrawn notes with the Bank of England directly, so you shouldn't ever lose money. You can exchange your old notes with the cashier in person at the central bank located on Threadneedle Street in London. You can also do it by post if you don't live close or are overseas. NOT FREE TO ROAM Return of EU roaming charges as O2 set to charge for data over set limit URGENT RECALL Ginsters recalls peppered steak slices over fears they contain plastic PENSION PAYOUT Grandparents could miss out on 2,675 state pension boost - how to claim NICE MOVE Martin Lewis' MoneySavingExpert explains how renters can slash bills by 100s SALE AWAY Next summer sale 2021: How to sign up for early access before the deadline  For either post or in-person exchange you'll need to ID and there other requirements too, including a form to fill in too. You can find the full guidance on the Bank of England's website. When the 50 does expire, you'll be able to exchange this too.