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Home > Banknotes > Exchanging for a business at the Bank of England counter

Exchanging for a business at the Bank of England counter

​As the money being exchanged belongs to a business, you must provide the following:

​Value of exchange ​What ID is required? ​Payment type
Any value
  1. ​Original photo ID* for you
  2. Original proof of address* for you
  3. 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 Number
    • Registered Office in country of incorporation
    • Preferred payment type
  4. Copy of photo ID for the representative signing the letter
  5. Copy of proof of address for the representative signing the letter

​Sterling Payment direct to the business bank account** (typically within 10 working days) or new banknotes

​ ​ ​** If the money is going into a UK bank account, please provide a copy of statement for the business account that will be paid.

If the account is oversees we will require the BIC/SWIFT number and IBAN.

*Full list of acceptable forms of identification & proof of address.
​Identity Verification ​Proof of Address
​Valid Passport ​Valid Photo-Card Driving Licence (full or provisional) if not used as identity verification
​Valid Photo-Card Driving Licence (full or provisional) ​Electoral Register
​National Identity card (for non-UK nationals) ​Utility Bill or Certificate Union Statement/Passbook*
​Firearms Certificate or Shotgun Licence ​Local Authority Tax Bill*
​Bank, Building Society or Credit Union Statement/Passbook*
​Most recent 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
​*Proof of address provided should be dated within the last six months.
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.
Bank of England Banknote Exchanges Terms & Conditions
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 to support the stated origin of the banknotes.
If for any reason it is not possible to exchange a claim on the same day, especially if it is of high value. You will be issued with a receipt and the Bank will send a Sterling payment direct to the businesses account typically within 10 days. If cash is the required form of payment, the Bank will make an appointment for you to collect it.

For further information please contact us by email at or telephone 0203 461 5994 (Mon-Fri, 9am-4pm).
We may monitor, record, store and use any telephone, email or other communication with you in order to check any instructions given to us for training purposes, crime prevention and to improve the quality of our customer service.