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Home > Banknotes > Exchanging Bank of England banknotes that have been withdrawn from circulation
 

Exchanging Bank of England banknotes that have been withdrawn from circulation

Genuine Bank of England banknotes that have been withdrawn from circulation retain their face value for all time and can be exchanged at the Bank of England in London.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;

Public banknote exchanges form

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.*  If you wish money to be paid to a third party account, please also send photocopy evidence of identity verification and proof of address of the account holder.

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;

Business banknote exchanges form

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 paid electronically to your local bank account in sterling (GBP) or alternatively, a sterling cheque will be issued. 

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 9am 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 than £1,000 ID is not usually required.*  If you wish money to be paid to a third party account, please also bring photocopy evidence of the identity verification and proof of address of the account holder.

3) When you arrive at the Bank of England you will be required to complete a banknote exchange form.

4) It may not be possible to exchange a claim on the same day, especially if it is of high value.  If this is the case you will be issued with a receipt and the Bank will send a BACS payment crediting your account typically within 10 days.  If you require cash, we will make an appointment for you to collect the cash. 

 

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 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*
Firearms Certificate or Shotgun Licence
Local Authority Tax Bill*
 
Bank, Building Society or Credit Union Statement/Passbook*
 
Most recent original Mortgage Statement
 
Local Council Rent Card or Tenancy Agreement
Benefits Book/Letter from Benefits Agency*
 
Telephone bill (excluding mobile phones)* 
 
Credit card bill* 
​HM Revenue & Customs tax notification*
​Jobcentre Plus letter confirming National Insurance Number*
In exceptional circumstances the Bank of England may at its discretion accept other forms of identification.  If you are unable to provide any of the listed forms of identification or proof of address, please contact the Bank of England prior to submitting your claim.​ ​
 

*Proof of address provided should be dated within the last six months.

The Bank of England offers regulation and protection for all sterling banknotes.  The Bank’s role with regard to Scottish and Northern Ireland banknotes and information on the authorised issuers is available via related links.
 

DATA PROTECTION ACT 1998 - FAIR COLLECTION NOTICE

The Bank of England will process your information in accordance with the current data protection legislation. The Bank of England may process your information for the purpose of the Bank’s business and associated activities and to comply with applicable laws and regulations. We may share this information with other parts of the Bank. When making payments the Bank may provide personal data to financial institutions and payment systems involved in making the payment. In complying with applicable laws and fighting crime and terrorism personal data may be disclosed to any government entity, regulatory authority or to any other person the Bank reasonably thinks necessary which may mean personal data is transferred outside the European Economic Area. The Bank will not, however disclose personal data to third parties for marketing purposes. We have measures in place to keep your personal data secure. You have the right to ask for a copy of information held about you in the Bank’s records (for which a small fee may be charged) and you may require the Bank to correct any inaccuracies, by writing to the Information Compliance Team, Bank of England, Threadneedle Street, London, EC2R 8AH.

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