Published: Tue, November 14, 2017
Finance | By Loren Pratt

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

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

This morning the Bank said one minute before midnight on 1 March is the date on which the old £10 note, featuring Charles Darwin, will have its legal tender status withdrawn - although it added the note will still be exchanged at the Bank of England.

They became legal tender on the 14th September this year.

Now around 55% of the £10 notes in circulation are made from polymer.

The Bank introduced the paper £10 note featuring Charles Darwin in 2000, and it rolled out the new Jane Austen notes in September.

An important notice from the Bank of England: despite the circulation only new polymer tenner since 1st March 2018, the old note can still be exchanged by the Bank after the cut-off date.

The transition to polymer has caused controversy after the Bank confirmed that an "extremely small amount" of tallow - or animal fat - was used to produce polymer pellets, which were part of the production process for creating the notes.

Despite the vegans' protests, the note with Jane Austen also has an inscription in raised dots that help blind and partially-sighted users to identify them.

Paper bank notes - £5, £10 and £20 - are slowly being replaced by plastic notes, which are more secure and harder to counterfeit, more resistant to dirt and more durable.

The Bank of England says they are also an improvement on the previous version in terms of security and durability.

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