Belfast Telegraph

Northern Ireland paper £5 and £10 banknotes withdrawn from circulation on Monday

 

Northern Ireland paper £5 and £10 banknotes are to be withdrawn from circulation on Monday.

Retailers can refuse to accept the older paper notes at their own discretion but banks will continue to change the notes from their own customers in exchange for new ones or a deposit.

Bank of Ireland, Danske Bank and Ulster Bank have also agreed they will exchange their own paper £5 and £10 notes from non-customers up to the value of £250.

The Post Office will continue to accept paper notes for customers to pay into their account.

Richard Donnan and Terry Robb with outsized versions of the new notes
Richard Donnan and Terry Robb with outsized versions of the new notes

Notes made from polymer began to be circulated by Danske Bank and Ulster Bank in February.

The Association of Commercial Banknote Issuers (ACBI) had encouraged the public to spend or exchange the paper notes ahead of the September 30 deadline.

An ACBI spokesman said: “Thanks to the work that Bank of Ireland, Danske Bank and Ulster Bank have already undertaken to swap the older notes with the more secure, environmentally-friendly polymer notes, the majority of £5 and £10 note have already been replaced with polymer.

“We have set a deadline for using paper £5 and £10 notes as September 30. The Northern Ireland note issuing banks will continue to accept old paper based notes and there are currently no plans to change this.”

Meanwhile First Trust Bank confirmed in February that they will cease their own note issuance by June 30 2020 and will instead dispense Bank of England banknotes. First Trust banknotes remain legal currency until June 20 2020.

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