From time to time, we withdraw old banknotes after they have been replaced by a new version. All withdrawn Bank of England notes remain payable at face value for all time. They can be exchanged for new banknotes at the Bank of England, either in person in London or by post.
There is a different process in place for damaged or mutilated banknotes.
Withdrawal of the paper £5 note
Paper £5 notes will be withdrawn from circulation on 5 May 2017.
The only £5 note that will be legal tender after this date is the polymer £5 featuring Sir Winston Churchill, which was introduced in September 2016.
Retailers and businesses can download the paper £5 note withdrawal poster below, or order hard copies using the online order form on our banknote education materials
Below is a list of all banknotes withdrawn from circulation since 1988. To see all banknotes that are no longer in circulation, see the Withdrawn Banknotes Reference Guide.
||Character on back of note
||Sir John Houblon
||Sir Edward Elgar
||Sir Christopher Wren
||Duke of Wellington