Withdrawal of paper £10 note on 1 March
The Bank of England will withdraw legal tender status of the paper £10 note featuring Charles Darwin at 23:59 on Thursday 1 March 2018. This means that 1 March is the last day people can spend their paper £10 notes. With 1 month to go, all businesses that handle cash need to plan and prepare for the change.
After 1 March 2018, businesses and the public no longer have to accept the Darwin £10 note as payment or in change and the new polymer note featuring Jane Austen will be the only £10 note with legal tender status.
The Bank of England is encouraging retailers and businesses to follow the steps outlined in the checklist below ahead of 1 March 2018.
For more details and to ensure your business and employees are prepared please visit the Bank of England.
CHECKLIST: How to prepare your business
- Alert your customers
Make your customers aware of the withdrawal date by displaying communications in visible locations such as a pharmacy counter or till point
- Train your staff
An A4 poster is available to support staff training on withdrawal and available to download or order, free of charge
- Clear out your safes
Start banking your paper £10s now, the last day to use paper £10 notes is the 1 March 2018
- Update your machines
Ensure you know which cash handling machines are being operated by your business and check whether an adaptation is required with your supplier to stop dispensing paper £10 notes after 1 March 2018
- Check your note supply arrangement with your bank to understand whether they will continue to accept paper £10 notes after the withdrawal date
- Manage your customers’ expectations
If you have not been able to adapt your machines to stop dispensing paper £10 notes before the 1 March 2018, have a process in place so that customers can exchange old notes if they are dispensed in change
Some banks and building societies may accept paper £10 notes after 1 March 2018 but this is at their own discretion. The Bank of England will continue to exchange Darwin £10 notes for all time, as it would for any other Bank of England note which no longer has legal tender status.