Old £20.00 note being withdrawn from circulation

The Bank of England has announced that the old style £20 note with a picture of Edward Elgar on the back is to be removed from circulation.

The current issue of £20 notes has the image of Adam Smith on the rear and will continue in use.

The old “Elgar” notes will continue in circulation until end of June 2010 and will then be accepted by most banks and buildings societies for a few months after that date. Old notes can always be exchanged at the Bank of England.

It would be shrewd to check any cash you may have now to ensure you have none of the old “Elgar” notes now – it may save a trip to the bank or building society at the end of June, or even to the Bank of England after the banks and building societies no longer accept them.

Don’t forget to also mention this to elderly relatives who may be holding cash at home.

For more information check out the Bank of England website.

Click here for music by Edward Elgar or to buy a copy of the “Wealth of Nations” by Adam Smith visit Amazon.

Rob over at Money Watch has also blogged about this.