Do you have any £50 notes? Commit them nowadays
From tomorrow £50 notes featuring the face of Sir John Houblon will no longer be legal tender 
Photo: Alamy
Holders of £50 notes featuring the encounter of the Bank of England’s initial governor, Sir John Houblon, are becoming recommended to money them in at a financial institution before they turn out to be obsolete tomorrow.
The Financial institution of England stated there were at the moment about 224 million £50 notes, worth a complete of £11.2bn, in circulation, of which an estimated 63 million (£3.2bn) have been Houblon notes.
The £50 banknote featuring Matthew Boulton and James Watt, which was introduced in 2011, will nevertheless be legal tender.
Matthew Boulton and James Watt £50 banknote
The Bank of England is withdrawing all Sir John Houblon notes from circulation on April 30 and outlets could end accepting them from May onwards.
Barclays, NatWest, RBS, Ulster Financial institution and the Submit Workplace will exchange the notes up to the value of £200 till October 30. The Bank of England will constantly exchange notes from discontinued series.
It explained: “The Financial institution of England routinely reviews and updates its notes in order to get advantage of advances in banknote style and security attributes.”
The Houblon £50 note was launched into circulation in 1994.
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