Exchanging Bank of England banknotes that have been withdrawn from circulation
Genuine Bank of England notes that have been withdrawn from circulation retain their face value for all time and can be exchanged at the Bank of England in London.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.
Notes of this type can be exchanged either by post or in person. Notes sent by post are done so at the sender's risk - we would recommend that appropriate measures are taken to insure against loss or theft. If you are intending to visit the Bank, please note the opening times below.
Damaged Bank of England notes are not exchanged by the Bank of England in London; damaged notes are dealt with by the Bank's cash centre in Leeds. You will need to complete a form and send this with the damaged notes to the Bank in Leeds; it is not possible to deliver these notes in person. More information, including a copy of the claim form and address details, can be found in the 'Damaged Notes' section. Notes sent by post are done so at the sender's risk - we would recommend that appropriate measures are taken to insure against loss or theft.
The Bank of England is not responsible for the issue or exchange of coin. For further information, please contact the Royal Mint helpdesk on 01443 222111.
Postal Exchange
Sending by post banknotes that have been withdrawn from circulation
Public Exchanges
Please complete a Public note exchanges form; this is to be sent with your note(s).
If the total value is £1,000 or more you will need to send photocopy evidence of Identity Verification and Proof of Address. If the value is for less than £1,000, no identification is required.
Please note the acceptable forms of identification below.
Key Resources
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Public note exchanges form (477k) |
Business Exchanges
Please complete a Business note exchanges form, this is to be sent with you note(s) including the following information;
- Company Name
- Registered Number
- Registered Office in country of incorporation
- Business Address
A covering letter evidencing the above is also required from a representative of the company on company headed paper.
All postal applications for banknote exchanges from within the UK will be reimbursed by means of a BACS payment. Applications received from outside of the UK will be provided with a sterling cheque if the total value is £35 or more and sterling cash if under £35. Please specify your name and, where appropriate, account details clearly.
Please note the acceptable forms of identification below.
Please send your notes with a letter to:
Dept. NEX
Bank of England
Threadneedle Street
London
EC2R 8AH
Key Resources
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Business note exchanges form (360k) |
Counter Exchange
Bringing your banknotes that have been withdrawn from circulation to the Bank in person for exchange.
If you wish to exchange your notes in person you will need to bring them to the Bank of England, Threadneedle Street, London. The nearest London Underground station is Bank on the Central and Northern Line; the Docklands Light Railway also serves Bank station.
Opening hours are 9:30am until 3:00pm, Monday to Friday excluding Bank Holidays.
Application forms to exchange notes are available at the Public Counter.
Please note, if the total value of the note exchange is £1,000 or more, you will need to bring with you a form of Identity Verification and also Proof of Address. If the value is for less than £1,000 no identification is required. You will be asked to complete an exchange form providing address information and details of the notes being exchanged.
Please note the acceptable forms of identification below.
If the value of your note exchange is £10,000 or more you may be issued with a receipt and the notes may not be exchanged the same day. The Bank would then send a payment by BACS for the appropriate amount usually within 10 working days. The reason for this is for the Bank to complete anti-money laundering checks and other administrative procedures associated with large banknote exchanges. In addition, many customers prefer not to leave the Bank premises with large amounts of cash on their person for security reasons.
Business Exchanges
In addition to the Public Exchanges requirements above, please note you will need to supply the following information when completing the business exchange form;
- Company Name
- Registered Number
- Registered Office in country of incorporation
- Business Address
A covering letter evidencing the above is also required from a representative of the company on company headed paper, delegating authority to the individual presenting the exchange at the Counter.
Acceptable Identify Verification
- Valid Passport
- Valid Photo-Card Driving Licence (full or provisional)
- National Identity card (for non-UK nationals)
- Freedom Pass (travel pass for London residents over 60 or with eligible disability)
- Residence Permit
- Benefits Book/Letter from Benefits Agency
- Building Industry Sub-Contractors Certificate
- Inland Revenue Tax Notification
- Registered Disabled Badge/Certificate
- Firearms Certificate or Shotgun Licence
Acceptable Proof of Address
- Valid Photo-Card Driving Licence (full or provisional) if not used as name verification
- Electoral Register
- Utility Bill or Certificate from Supplier of Utilities
- 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
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.
