30th September deadline to use paper £5 & £10 notes
The Association of Commercial Banknote Issuers, on behalf of Bank of Ireland, Danske Bank and Ulster Bank -
has announced that there are now less than four weeks to go until all Northern Ireland paper £5 and £10
notes are withdrawn from circulation.
Polymer notes from Bank of Ireland, Danske Bank and Ulster Bank have been circulating since February 2019.
Polymer delivers significant benefits over paper, particularly when combined with state of the art security
features which make the notes much harder to counterfeit. Polymer is also stronger than paper and so notes
will last longer, remain in better condition and deliver environmental benefits.
With this in mind, The Association of Commercial Banknote Issuers, is encouraging the general public to spend
or exchange any paper £5 or £10 notes in advance of the deadline.
A spokesperson for the ACBI confirmed: “Thanks to the work that Bank of Ireland, Danske Bank and Ulster
Bank have already undertaken to swap the older paper notes with the more secure, environmentally friendly
polymer notes, the majority of £5 and £10 notes have already been replaced with polymer.
“We have set a deadline for using paper £5 and £10 notes as 30th September. The Northern Ireland note
issuing banks will continue to accept old paper based notes and there are currently no plans to change this.”
Separately First Trust Bank confirmed in February 2019 that they will cease their own note issuance
by 30th June 2020 and will instead dispense Bank of England banknotes or sterling banknotes of
equivalent value. First Trust Bank banknotes remain legal currency until 30th June 2022.
Advice to customers and non-customers for exchanging notes.
Issuing banks will continue to accept all Northern Ireland notes from their own customers. These can be either
deposited into their bank account or exchanged for polymer notes. Bank of Ireland, Danske Bank and Ulster
Bank have also agreed that they will exchange their own paper £5 and £10 notes from non-customers up to
the value of £250.
Other banks, building societies and The Post Office may continue to accept and exchange Northern Ireland
paper notes after 30th September.