Have you heared when the old £20 go out of circulation? I have a bunch of old £20s and want to know until when can I use them. After the £20 expire how to get rid of them if I find some left? Do the banks exchange them for new banknotes? Until when can I take the expired money to the banks and which bank exchanges the old notes to new ones?
The Bank of England website says: "You will still be able to use the paper £20 note until we withdraw it from circulation. We will announce the withdrawal date after we have issued our new polymer £20 note. We will give six months’ notice of this withdrawal date."
It's the safest banknote of all time in the history of the British numismatic history.
Each and every bank should exchange your old £20 banknotes to the new polymer 20s notes. As for me 6 months notice from the Bank of England seems fair enough to spend them all.