Northern Ireland £50 and £100 paper banknotes being withdrawn from circulation this month

The Association of Commercial Banknote Issuers (ACBI), on behalf of Bank of Ireland UK and Ulster Bank - is reminding the public that all Northern Ireland paper £50 and paper £100 notes will be withdrawn from circulation on September 29.

These are the last Northern Ireland issued paper bank notes that remain in circulation, marking a significant milestone in the transition to polymer bank notes.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.

The public is being encouraged to spend or exchange any Northern Ireland issued paper £50 and paper £100 notes in advance of the deadline.A spokesperson for the ACBI said: “Thanks to the work that Bank of Ireland UK, Danske Bank and Ulster Bank have already undertaken to swap older paper notes with more secure, environmentally friendly polymer notes, the majority of paper banknotes issued by the Northern Ireland note issuing banks have already been replaced with polymer banknotes.

"We have set a deadline for using paper £50 and paper £100 notes as September 29, 2023. The Northern Ireland note issuing banks will continue to accept old paper based notes and there are currently no plans to change this.”

Where can people exchange paper £50 and paper £100 notes?

Northern Ireland issuing banks will accept paper banknotes in pay-ins from customers. Non-customers can exchange their paper banknotes at the respective issuing bank up to a limit of £200, provided that photographic I.D. is presented.

Do retailers have to accept Northern Ireland paper banknotes from September 29?No. Retailers may refuse to accept Northern Ireland paper banknotes from September 29, 2023 onwards at their own discretion.

Will the Post Office continue to accept Northern Ireland paper banknotes for people who use branches to pay-in to their account?Yes. The Post Office will continue to accept pay ins of Northern Ireland paper banknotes.When do Northern Ireland Banknotes cease to have value? As Northern Ireland banknotes promise to pay the bearer on demand, customers will always receive value for genuine notes from the issuing bank.

What about First Trust Banknotes?AIB NI branches will exchange First Trust Bank banknotes for Bank of England banknotes, or other sterling banknotes of equivalent value, free of charge. There is no time limit on this. Supporting documentation, including proof of identity and address, may be required. Limits may apply.