Many UK residents are racing against time to have the £20 and £50 notes in their possession replaced by a polymer version as the September 30 deadline approaches.
The Bank of England (BoE) has stated that it is “experiencing very high demand” of its services as many Britons queue at it counter.
“The Bank of England Counter is currently open from 9.30am to 3pm Monday to Friday and is experiencing very high demand.
“There will be long queues and you may encounter waiting times in excess of an hour. We would ask that you kindly consider the long wait times when travelling to the Bank to undertake an in-person exchange – if you arrive after 2pm it is possible you may not get served before we close,” Bank of England wrote on its website.
Although it is still a legal tender at present, the £20 and £50 notes will cease to be in use and circulation from next month.
People who are in possession of the notes have been asked to deposit them at their banks, some post office branches or with the Bank of England to have them replaced with the polymer version which is said to be “less vulnerable to counterfeiters and more durable”.
It was in 2021 that the Bank first issued the polymer £50 note featuring Bletchley Park codebreaker and scientist Alan Turing, completing its “family” of polymer notes – also including the £5, £10 and £20 notes, UK Sky News reports.
Meanwhile, Queen Elizabeth II’s portrait on UK currencies is expected to be replaced gradually following her demise.
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The new currencies to be printed will bear the image of King Charles III following his ascension to the throne.
Source: www.ghanaweb.com
