Genuine Bank of England banknotes that have been withdrawn from circulation retain their face value for all time and can be exchanged at the Bank of England in London. There is no fee for this service. Banknotes of this type can be exchanged either by post or in person.
Please be aware that we do not offer an exchange service for coin; if you have any queries regarding sterling coin please
contact the Royal Mint.
Exchanging your banknotes by post
Banknotes sent by post are done so at the sender's risk - we therefore recommend that appropriate measures are taken to insure against loss or theft.
1) Complete a Public banknote exchange form using the link below;
2) If the total value you wish to exchange is £1,000 or more, please send photocopy evidence of identity (ID) verification and proof of address. If the value is for less than £1,000, ID is not usually required.*
Acceptable forms of ID can be found at the bottom of this page
3) Send your banknote(s), completed form and photocopy ID to the following address:
Department NEX
Bank of England
Threadneedle Street
London
EC2R 8AH
Business exchanges by post
1) Complete a Business banknote exchanges form using the link below;
2) Include a covering letter signed by a representative of the company on company headed paper evidencing that the exchange is required.
3) Send your banknote(s), completed form and company covering letter to the following address:
Department NEX
Bank of England
Threadneedle Street
London
EC2R 8AH
Postal applications for banknote exchanges from within the UK will be reimbursed by sterling cash if £50 or less or via BACS payment at the customer’s request. Postal banknote exchanges from within the UK in excess of £50 will be paid via Bacs.
Applications received from outside the UK will be provided with sterling cash if £50 or less or with a sterling cheque if the total value exceeds £50.
Please specify your name and, where appropriate, bank account details clearly.
Exchanging your banknotes in person
1) To exchange your banknotes in person please bring them to the following address:
Bank of England
Threadneedle Street
London
Opening Hours: Monday to Friday 9:00am until 3pm, excluding Bank Holidays
Nearest London Underground station: Bank (Central Line, Northern Line and Docklands Light Railway)
2) Ensure you bring original copies of your ID and proof of address for exchanges totalling £1,000 or more. If the value is less that £1,000 ID is not usually required.*
Acceptable forms of ID can be found at the bottom of this page
3) When you arrive at the Bank of England you will be required to complete a banknote exchange form.
4) If the value of the exchange is £10,000 or more (or if you have previously exchanged banknotes with cumulative value of £10,000 or more) these may not be exchanged the same day. If this is the case you will be issued with a receipt and the Bank will send a BACS payment crediting your account within 10 working days. If you require cash, we will make an appointment for you to collect the cash. This is because the Bank needs to complete anti-money laundering checks and other administrative procedures associated with large banknote exchanges.
Business exchanges in person
1) In addition to the requirements above, you will need to supply the following information when completing a business exchange form;
- Company Name
- Registered Number
- Registered Office in country of incorporation
- Business Address
2) A covering letter evidencing the above is also required which must be signed by a representative of the company on company headed paper, delegating authority to you to present the exchange in person.
3) As the delegated applicant, please ensure you bring original copies of your ID and proof of address.
*At the Bank's discretion, banknotes may be retained at any value in order for additional administrative checks to take place; you may be required to provide ID at any value or provide additional information or evidence to support the stated origin of the banknotes.
Acceptable Identity Verification |
Acceptable Proof of Address |
Valid Passport |
Valid Photo-Card Driving Licence (full or provisional) If not used as ID verification |
Valid Photo-Card Driving Licence (full or provisional) |
Electoral Register |
National Identity card (for non-UK nationals) |
Utility Bill or Certificate from Supplier of Utilities |
Freedom Pass (travel pass for London residents over 60 or with eligible disability) |
Local Authority Tax Bill |
Residence Permit |
Bank, Building Society or Credit Union Statement/Passbook |
Benefits Book/Letter from Benefits Agency |
Most recent original Mortgage Statement |
Building Industry Sub-Contractors Certificate |
Local Council Rent Card or Tenancy Agreement |
Inland Revenue Tax Notification |
Benefits Book/Letter from Benefits Agency |
Registered Disabled Badge/Certificate |
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Firearms Certificate or Shotgun Licence |
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Documentation provided should be dated within the last six months and within six months of validity prior to expiry.
Whilst the Bank of England does offer regulation and protection for all sterling banknotes, we currently only offer an exchange service for Bank of England issued banknotes. For sterling banknotes issued by other issuers, we suggest that you contact the issuer direct. The Bank’s role with regard to Scottish and Northern Ireland banknotes and information on the authorised issuers is available
here.
DATA PROTECTION ACT 1998 - FAIR COLLECTION NOTICE
The Bank of England will process your information in accordance with current data protection legislation. The Bank of England may process your information for the purpose of the Bank's business and associated activities, and may disclose your information to external third parties. Your information will not be processed for direct marketing purposes. You have the right to ask for a copy of information held about you in our records, for which you may be charged a small fee, and to require us to correct any inaccuracies, by writing to the Data Protection Officer, Bank of England, Threadneedle Street, London, EC2R 8AH
