Exchange withdrawn banknotes | Post Office (2024)

FAQs

Where can I exchange withdrawn bank notes? ›

Pay them in at your high street bank or Post Office.

You can also exchange old paper banknotes for the same value in current polymer notes at 30 selected Post Office branches – you can view the full branch list on the Bank of England website. This includes the old paper £5, £10, £20 and £50 notes from the last series.

Many banks accept withdrawn notes as deposits from customers. The Post Office will also accept withdrawn notes as a deposit into any bank account you can access at the Post Office. And you can always exchange withdrawn notes with us.

Yes. You can exchange up to £300 of paper banknotes in any £5, £10, £20 and £50 denominations of the last series at participating branches within any two-year period. Our system will let you know if you've reached the £300 limit.

Just come into any Travelex store with your leftover currency and one of our team will buy your leftover banknotes at whatever our current buy-back rate is for that currency.

These can also be exchanged at the counters of any public sector bank branch, any currency chest branch of a private sector bank or any Issue Office of the RBI without filling any form. To suit public convenience, the exchange facility for mutilated notes is also offered through TLR(Triple Lock Receptacle) covers.

(1) A torn banknote

The Bank may judge banknotes torn into shreds as having no value if they cannot be identified as pieces of the same banknote.

While rare serial numbers often generate interest, banknotes will only ever be worth their face value to us.

Unfit currency should not be forwarded to Bureau of Engraving and Printing for redemption, but may be exchanged at commercial financial institutions.

There is currently no time limit when it comes to exchanging your old UK banknotes at the Bank of England. You may need to present an original photo ID and proof of address when exchanging notes.

Where can I exchange old notes for cash? ›

Exchange of mutilated banknotes

Members of the public wanting to exchange mutilated banknotes can do so at all Commercial Bank branches where their account is held.

Branch exchange rates depend on several factors, eg branch location, competition, cost of order, convenience, etc. We will always try and offer the best rate, subject to this criteria.

It is U.S. government policy that all designs of Federal Reserve notes remain legal tender, or legally valid for payments, regardless of when they were issued.

Notes: (1) Except for the elderly aged 60 and above and persons with disabilities, online pre-booking is required for (i) exchange of new notes at DBS, OCBC, UOB, Standard Chartered Bank (Singapore) and CIMB branches, and (ii) exchange of Fit notes at DBS, OCBC and UOB branches.

Mutilated bank notes show signs of excessive damage from fire or water, missing pieces, or other forms of deterioration. These bank notes are likely too damaged or brittle to be used for payment, so you can send them to us for redemption. We will examine them to determine the value of your claim.

Banks, credit unions, online bureaus, and currency converters provide convenient and often inexpensive currency exchange services.

Place your cash properly in the cash slot facing down and select Next. Select your Preferred Cash Denomination and ensure total amount tallies. Collect the Exchanged Cash and your card.