The Bank of England has announced that the old style L50 note, featuring Sir John Houblon on the reverse, will be withdrawn from circulation on 30 April 2014.
Further information can be found on the attached poster, or via their website www.bankofengland.co.uk/banknotes/Pages/fiftywithdrawal .
The main points to note are:
- On 30 April 2014, the Bank of England is withdrawing from circulation the old-style L50 notes that show a portrait of Sir John Houblon on the reverse.
- For several months after this most banks and building societies will accept these notes for deposit into customer accounts, but they are not obliged to.
- Barclays, NatWest, RBS, Ulster Bank and the Post Office have agreed to exchange Houblon L50 notes, up to the value of L200, at their branch counters until 30 October 2014.
- The L50 note featuring Matthew Boulton and James Watt, which was introduced in to circulation in 2011 will remain in circulation and can be used normally.
- The Bank of England will always exchange its old notes.
A poster is available below to download for information of your staff.