We’ve engaged with certain industry trade bodies to put in place arrangements for their members to refer queries on our gradual withdrawal of banknotes that are not otherwise covered off in the frequently asked questions or that can’t be sent to us directly:

Should I continue to accept First Trust Bank banknotes?

 

Until midnight on 30th June 2022

Yes.

 

First Trust Bank banknotes remain legal currency until midnight on the 30th June 2022. This means you will experience no change on how you can accept and use First Trust Bank banknotes until this date.

 

You can continue to accept, pay out and lodge First Trust Bank banknotes into your bank accounts until midnight on the 30th June 2022.

 

We are gradually withdrawing our own banknotes from circulation as we make this transition, and will begin dispensing Bank of England banknotes from First Trust Bank Branches and ATMs. This means you will see less First Trust Bank banknotes in use from July 2020 until these cease to be legal currency after midnight of the 30th June 2022.

After 30th June 2022

No.

 

You should no longer accept First Trust Bank banknotes as payment for goods or services. We will work with high street banks and retailers to ensure that there is a smooth transition for banknotes you accept for payment up to midnight on 30th June 2022.

 

If your business still holds First Trust Bank banknotes, from 1st July 2022 any First Trust Bank branch will exchange these at no cost for Bank of England banknotes, or other sterling banknotes of equivalent value. There is no time limit on this. Supporting documentation, including proof of identity and address, may be required. Limits may apply

 

We have also made arrangements with the Post Office® where First Trust Bank banknotes can be exchanged for sterling banknotes at no cost in all of their 11,500 outlets across the UK after 30th June 2022 for another two years, until June 2024. Supporting documentation, including proof of identity and address, may be required. Limits may apply.

Post Office and the Post Office logo are registered trademarks of Post Office Limited. © Post Office Limited 2009. Reproduced by kind permission of Post Office Limited. All rights reserved.

Need further help?

If you cannot find the information you need in our frequently asked questions or on this webpage, submit a question online and we will come back to you.

 

You can also call into your nearest First Trust Bank branch or call us on 0345 646 0203. Lines are open from 9am to 5pm Monday - Friday (except on bank holidays).

 

Related information

 

2