Shoppers and businesses across the UK are being urged to check their banknotes carefully after reports that thousands of potentially defective £20 and £50 notes may have entered circulation.
The Bank of England has issued an alert after identifying production issues with some polymer notes printed between December 2019 and November 2023. While the affected notes remain legal tender, some may show signs of premature wear or have faint print that could make them harder to verify.
How to Spot Problem Notes
Experts recommend checking for these key features:
- The hologram should change between the words 'Twenty' or 'Fifty' and 'Pounds' when tilted
- The metallic image overlay should be crisp and clearly visible
- The see-through window should show a detailed portrait of the Queen (or King on newer issues)
- The serial number should be clearly printed in two places
What to Do If You Find a Suspect Note
If you receive a note that appears faded, damaged or difficult to authenticate:
- Don't panic - it may still be genuine but simply worn
- Compare it carefully with another note of the same denomination
- Try using a UV light checker if available (most shops have these)
- If in doubt, take it to your bank for verification
The Bank of England stresses that all genuine notes - even those with printing defects - remain valid and should be accepted by businesses. However, retailers may understandably be cautious about notes that appear unusual.
Compensation Available
Consumers who find they have a confirmed faulty note can apply for replacement through the Bank of England's mutilated notes service. You'll need to complete a form and send the note to their headquarters in London for assessment.
This alert comes as cash use continues to decline in the UK, with many retailers now preferring card or contactless payments. However, cash remains vital for millions of people, particularly older generations and those in rural areas with poor digital connectivity.
