There is no deadline to exchange old banknotes with the Bank of England. But it is usually easier and quicker to exchange notes at your own bank or at the Post Office.
Related links
- Withdrawn banknotes
- Damaged and contaminated banknotes
- Scottish and Northern Ireland banknotes
The Bank of England counter is open Monday to Friday, 9.30am to 3pm (excluding Bank Holidays). Last entry at 2.45pm.
Exchanging old notes at your UK bank
If you have a UK bank account, the easiest and quickest way to exchange old banknotes is to pay them into your bank account.
Banks and building societies that accept old paper notes as deposits include:
- Barclays
- Halifax
- Lloyds
- Nationwide
- NatWest
- Santander
Exchanging old notes at your UK bank
Exchanging old notes at the Post Office
The Post Office will accept most old notes as a deposit into any UK bank account you can access with them.
There are also 47 Post Office branchesacross the UK that will swap old banknotes, even if you do not have a bank account.
See thePost Officewebsite to exchange withdrawn banknotes.
The Post Office is suitable for you if you:
- have £300 or less
- would like your money changed immediately
- do not have a UK bank account
- have photo ID
- have banknotes that look like those below
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Exchanging old notes by post
There is no deadline to exchange old banknotes with the Bank of England by post.
We are currently experiencing delays of up to 90 working days processing postal banknote exchanges.
Banknotes are sent at your own risk. So please take appropriate measures to insure against loss or theft.
Exchanging by post is suitable for you if:
- you have very old banknotes that cannot be exchanged at the Post Office
- you would like the money paid into a personal or business account
We can reimburse you with:
- cash (if you live in the UK and the amount is under £300)
- a sterling cheque
- an electronic payment to a bank account that accepts sterling payments
We can only pay into accounts that accept sterling (GBP) and all payments are sent via SWIFT transfer. We do not charge for this service, but their intermediaries may charge you.
What you need to do
- Individuals should fill in and print the banknote exchanges application form and businesses should fill in and print the business banknote exchanges application form.
- For exchanges over £700 and all business exchanges, enclose a copy of your photo ID and proof of your permanent address (even if this is outside of the UK) – see our acceptable Identification and proof of address documents
- Enclose supporting documents – this is very important for exchanges over £700 and for businesses exchanging with us by post
- Send your money, identification and supporting documents to:
Dept NEX
Bank of England
Langston Road
Loughton
Essex
IG10 3TN
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We may ask you for identification (ID)andproof of address for an exchange of any value.
Identity documents we accept are:
- valid passport
- valid photo card driving licence (full or provisional)
- British residents’ permits
- national identity card (if you are a non-UK national)
- firearm or shotgun certificate.
We accept the following as proof of address (permanent home address even if it is outside of the UK):
- valid photo card driving licence (full or provisional) – if you haven’t used this as proof of ID
- electoral register entry
- utility bill or certificate from utility supplier (dated within the past six months)
- Council Tax bill (dated within the past six months)
- bank, building society or credit union statement or passbook (dated within the past six months)
- recent mortgage statement
- local council rent card or tenancy agreement
- benefits book or letter from the benefits agency (dated within the past six months)
- telephone bill (excluding mobile phones, dated within the past six months)
- credit card bill (dated within the past six months)
- HM Revenue and Customs tax notification (dated within the past six months)
- Jobcentre Plus letter confirming your National Insurance number
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In addition to the mandatory identification documents we require, some of the documents we may request are:
If you are exchanging on behalf of a business:
- An original letter of authority naming you and signed by a representative of the company on headed paper. The letter must contain the following:
- The company name
- Registered company number
- Registered office in country of incorporation
- Preferred type of payment
- A copy of photo ID and proof of address for the representative who signed the letter.
- Evidence you have tried to deposit these banknotes to a UK bank that is part of the Note Circulation Scheme (NCS).
If the money forms part of an estate:
- Provide a Will/ Grant of Probate
- A copy of the death certificate
If the money is a gift:
- A signed letter from the person gifting you the money explaining how they accumulated the money
- A copy of photo ID and proof of ID from the person gifting you the money
- Evidence of the original source of the money
If this is money you have earned and saved:
- Provide bank statements showing your income and the money being withdrawn
- Evidence of where you exchanged the money (if this money was not originally in pound sterling)
- Proof of employment and income
If you are exchanging on behalf of another individual:
- A signed letter from the true owner of the money confirming you can exchange the money, the letter must include:
- Your name
- The original source of the money
- Preferred payment type
- Photo ID and proof of address for the owner of the money
- Evidence of how they obtained the money
If you brought this money into the UK (even as a family or group) and the value is £10,000 or more:
- A customs declaration form
- An original letter of authority naming you and signed by a representative of the company on headed paper. The letter must contain the following:
How to contact us
If you have any questions, you can contact us:
- by email -[email protected]
- by phone - 0203 461 5994 from 9am to 12pm (except bank holidays and weekends)
King Charles III banknotes
There is no need to exchange current banknotes for the new King Charles III notes. Banknotes featuring the portrait of Her late Majesty, Queen Elizabeth II, will remain legal tender, and can continue to be used.
The Bank’s counter at our Threadneedle Street building will only issue Queen Elizabeth II banknotes.
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Exchanging notes at the Bank of England
The Bank of England counter is open Monday to Friday, 9.30am to 3pm (excluding Bank Holidays). Last entry at 2.45pm.
There is no deadline to exchange old banknotes with the Bank of England.
Our counter can get very busy so we may issue you with a ticket to return at a later time on the same day. If you arrive after 12pm, you may not get served before we close at 3pm.
Our opening hours are Monday to Friday 9.30am until 3pm (we are closed on bank holidays).
Before you arrive, you may want to find out about our accessibility and safety measures.
This option is suitable for you if you:
- have very old banknotes that cannot be exchanged at the Post Office
- have a UK or overseas bank account
- have more than £300
- can present original photo ID and proof of address documents for your permanent residence (even if it is outside the UK)
- need the money back immediately (we cannot guarantee all customers will receive money back on the same day)
What we will ask you to do on the day
- Fill in a form (find out how we use your information).
- Tell the cashier how much money you are exchanging.
- Provide identification and proof of address.
- Explain the source of the money and provide supporting documents.
What we will do
- Record your details in our system.
- Review supporting documentation for the source of the money (if you cannot provide all of the required documents, you may not receive your money on the same day).
- We may ask you questions or ask for more information. We do these checks to comply with anti-money laundering and sanctions obligations. Please see our terms and conditions.
- Issue you with new banknotes or pay the money into your UK or overseas bank account (for overseas bank accounts that accept sterling payments).
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We may ask you for identification (ID)andproof of address for an exchange of any value.
Identity documents we accept are:
- valid passport
- valid photo card driving licence (full or provisional)
- British residents’ permits
- national identity card (if you are a non-UK national)
- firearm or shotgun certificate.
We accept the following as proof of address (permanent home address even if it is outside of the UK):
- valid photo card driving licence (full or provisional) – if you haven’t used this as proof of ID
- electoral register entry
- utility bill or certificate from utility supplier (dated within the past six months)
- Council Tax bill (dated within the past six months)
- bank, building society or credit union statement or passbook (dated within the past six months)
- recent mortgage statement
- local council rent card or tenancy agreement
- benefits book or letter from the benefits agency (dated within the past six months)
- telephone bill (excluding mobile phones, dated within the past six months)
- credit card bill (dated within the past six months)
- HM Revenue and Customs tax notification (dated within the past six months)
- Jobcentre Plus letter confirming your National Insurance number
-
In addition to the mandatory identification documents we require, some of the documents we may request are:
If you are exchanging on behalf of a business:
- An original letter of authority naming you and signed by a representative of the company on headed paper. The letter must contain the following:
- The company name
- Registered company number
- Registered office in country of incorporation
- Preferred type of payment
- A copy of photo ID and proof of address for the representative who signed the letter.
- Evidence you have tried to deposit these banknotes to a UK bank that is part of the Note Circulation Scheme (NCS).
If the money forms part of an estate:
- Provide a Will/ Grant of Probate
- A copy of the death certificate
If the money is a gift:
- A signed letter from the person gifting you the money explaining how they accumulated the money
- A copy of photo ID and proof of ID from the person gifting you the money
- Evidence of the original source of the money
If this is money you have earned in your job and saved (including for a previous visit to the UK):
- Provide bank statements showing your income and the money being withdrawn from your bank
- Evidence of where you exchanged the money (if this money was not originally in pound sterling)
- Proof of employment and income
If you are exchanging on behalf of another individual:
- A signed letter from the true owner of the money confirming you can exchange the money, the letter must include:
- Your name
- The original source of the money
- Preferred payment type
- Photo ID and proof of address for the owner of the money
- Evidence of how they obtained the money
If you brought this money into the UK (even as a family or group) and the value is £10,000 or more:
- A customs declaration form
- An original letter of authority naming you and signed by a representative of the company on headed paper. The letter must contain the following:
Security measures are in place and access will usually only be permitted to the individual who is exchanging banknotes, we will ask members of your party or family to wait outside the building. We ask that you do not bring large bags with you and your bags will be searched. We request that liquids, bikes, scooters and motorcycle or bike helmets are not brought into the building.
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Additional information
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We may keep your banknotes to carry out additional checks if we need to and this may take in excess of 90 working days.
We may request additional or supplemental information in order to satisfy its security checks. These checks are to enable to Bank to comply with anti-money laundering and sanctions obligations.
We will advise you about the information you need to provide given the circ*mstances of your exchange. Before the exchange is complete you may be asked to provide more information or evidence to support the origin of the banknotes. For example, if the money forms part of an estate, you need to provide copies of death certificate, wills or grant of probate. We won’t be able to process the exchange until we have all the information we need and you should allow time for our checks to be completed.
You must declare cash of £10,000 or more to UK customs if you’re carrying it between Great Britain (England, Scotland and Wales) and a country outside the UK.This includes if you are travelling as part of a group or family.
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Information we collect
When completing a banknote exchange form, the Bank of England collects personal data about you. This includes your name, address, contact details and bank account information. Proof of identification, a utilities statement in your name and further background information may be required for higher value exchanges.
Why we need your personal data
We collect your personal data to assess your banknote application (in a way that complies with applicable laws and regulations, including Anti Money Laundering regulations) and to allow us to reimburse you the face value of your banknotes. Without this data, we cannot process your application. This is necessary for the performance of a task carried out in the public interest or in the exercise of our official authority as the Central Bank of the United Kingdom.
What we do with your personal data
We use this information to confirm you are who you say you are, to facilitate increased checks for certain types of exchange including higher value exchanges, to audit our processes and to comply with applicable laws and regulations. We may make reference to previous claims you’ve made with us, and in some instances commercial sources, to enable us to meet our obligations in assessing your application.
When making payments, we may provide personal data to financial institutions and payment systems involved. In complying with applicable laws and for law enforcement purposes, we may also disclose data to any government entity, regulatory authority or to any other person the Bank reasonably considers necessary. This may mean that personal data is transferred outside the European Economic Area. The Bank will not, however, disclose personal data to third parties for marketing purposes.
We will store your data will be stored for a period we consider appropriate to support the prevention of crime and to enable us to comply with relevant laws.
Your rights
You have a number of rights under data protection laws. For example, you have the right to ask us for a copy of the personal data we holds about you. This is known as a ‘Subject Access Request’. You can ask us to change how we process or deal with your personal data, and you may also have the right in some circ*mstances to have your personal data amended or deleted.
To contact us about those rights, including making a request for the personal data we hold about you or to make a complaint, please see our privacy pageor write to us at:
The Privacy Team
Bank of England
Threadneedle Street
London, EC2R 8AHIf you are not satisfied with our response or believe we are processing your personal data not in accordance with the law, you can complain to the Information Commissioner’s Office (ICO).
More information
Our Data Protection Officer can be contacted via the details above and you can also find out more about how we deals with your personal data on our privacy page.
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Accessibility
There are steps at our front entrance of our building on Threadneedle Street so we have a button to call for assistance next to the steps. It’s on the bottom left handrail at wheelchair level.
A portable writing table (eazydesk) is available for wheelchair users. Please ask a member of staff if you would like to use it.
An induction loop is available at the counter.
Safety measures in place
Security measures are in place and access will usually only be permitted to the individual who is exchanging banknotes, we will ask members of your party or family to wait outside the building. Your bags will be searched and we request that liquids, bikes, scooters and motor cycle or bike helmets are not brought into the building.
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London
- Moorgate Post Office | Greater London | EC2M 5TE
- The City of London Post Office | Greater London | EC3M 1AJ
- Houndsditch Post Office| Greater London| E1 7BS
- London Bridge Post Office| Greater London| SE1 9SF
- Regent Street St. James's Post Office | Greater London | SW1Y 4LR
- Strand Post Office| Greater London| WC2R 0LT
- Aldwych Post Office| Greater London| WC2B 4JN
- High Holborn Post Office | Greater London | WC1V 7RL
- Camden Post Office| Greater London| NW1 0LU
- Golders Green Post Office | Greater London | NW11 8RT
- Broadway Post Office| Greater London| SW1H 0AX
- Worlds End Post Office| Greater London| SW3 5EX
- Knightsbridge Post Office| Greater London| SW7 1DL
- Baker Street Post Office| Greater London| W1U 6SG
- Great Portland Street Post Office| Greater London| W1W 7NE
- Kensington Post Office| Greater London| W8 7RG
Northern Ireland
- Belfast City Post Office | County Antrim | BT1 1LT
- Londonderry Post Office | County Londonderry | BT48 6AA
Scotland
- Edinburgh City Post Office | Midlothian | EH1 1BQ
- Glasgow Post Office | Strathclyde | G1 2RD
- Inverness Post Office | Inverness-shire | IV1 1AX
North East
- Middlesbrough Post Office | North Yorkshire | TS1 2NR
- Newcastle Upon Tyne Post Office | Tyne and Wear | NE1 7DE
North West
- Carlisle Post Office | Cumbria | CA3 8JY
- Breck Road Post Office | Merseyside | L5 6SW
- Liverpool Post Office| Merseyside| L1 8BN
Yorkshire and Humber
- York Post Office | North Yorkshire | YO1 9QL
- The Markets Post Office | West Yorkshire | LS2 7DZ
- Charles Street Post Office | South Yorkshire | S1 2HU
- Harrogate Post Office| North Yorkshire| HG1 1TU
Midlands
East of England
Wales
South West
- Bournemouth Post Office | Dorset | BH1 1DY
- Bristol Post Office | City Of Bristol | BS1 3XB
- Mutley Post Office | Devon | PL4 6LL
- Bath Post Office| Somerset| BA1 1RT
South East
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If you would like to make a complaint, please fill in a complaint form.
You can email the completed form to [email protected], or send it to:
The Manager
Counter Team, TS (A-C)
Customer Banking Division
Bank of England
Threadneedle Street
London EC2R 8AHOr you can contact us by telephone on 020 3461 5994 between 9am – 12pm and 2pm – 4pm, Monday to Friday (excluding bank holidays).
If you wish to visit us in person our address is:
Bank of England*
Threadneedle Street
London EC2R 8AH*Upon arrival please explain the nature of your visit.
How we will handle your complaint
We aim to respond to your complaint within 15 business days. However, this is not always possible. If this is the case we will let you know in writing and tell you the name of the individual responsible for dealing with your complaint. We will then provide you with regular updates on our investigations until we are able to provide a final response. This should be within 35 business days of receiving your complaint. If we are unable to resolve your complaint within this timeframe we will write to you and explain why.
If your complaint is about how we carry out our responsibilities as a financial regulator, please see our information on how to complain about the regulators
We do not exchange coins
Please contact the Royal Mint for information about coins or to exchange coins
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This page was last updated 06 September 2024
