Cut-off date set to spend old £10 notes

Cut-off date set to spend old £10 notes

Cut-off date set to spend old £10 notes

You have until March to spend your old £10 notes before they stop being accepted as legal tender.

Old notes can still be spent ahead of this date and you can exchange them at the Bank once this point has passed.

They are already being phased out due to the introduction of the new polymer notes, which feature 19th century author Jane Austen, in September. The Bank of England has revealed that the old paper note featuring Charles Darwin will expire on 1 March 2018.

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.

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However, the new notes have drawn criticism from vegans and religious groups across England and Wales for containing traces of tallow, an animal by-product of beef or mutton fat.

Following consultation, the Bank said in August that it would continue with the use of tallow in future banknotes - saying it "has not taken this decision lightly".

As at 3 October 2017, 55% of £10 notes in circulation were made of polymer with an estimated 359 million paper £10 notes in circulation.

The new tenner is the first Bank of England note with a tactile feature to help blind and partially-sighted users.

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