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  1. ITV Report

Last day to use old £5 notes in shops

The paper £5 note will lose its legal tender status on Friday. Credit: PA

Still got an old £5 note?

Well, you only have today to spend it as from Friday May 5 it ceases to become legal tender and will no longer be accepted in shops.

Since the new plastic note featuring Sir Winston Churchill were introduced last September, the old fivers have steadily been withdrawn from circulation.

The new polymer notes have increased security features and are more difficult to counterfeit.

The new £5 note lasts around five years longer than the old notes. Credit: PA
  • Where can you cash your old notes in?

You can take your old £5 notes, featuring the image of prison reformer Elizabeth Fry, to a bank, building society or Post Office to exchange them for a new polymer version.

  • What if I don't spend or exchange them before Friday?

All Bank of England notes retain their face value forever and you will still be able to exchange the paper note after May 5, 2017.

If your local bank, building society or Post Office is not willing to accept these notes then they can be exchanged with the Bank of England in London.

  • Can I exchange damaged notes?

The Bank of England will also reimburse the face value of any accidentally damaged, mutilated or contaminated banknotes, providing there are sufficient fragments.

  • What about paper £5 notes issued by banks in Scotland and Northern Ireland?

Paper notes issued by banks in Scotland and Northern Ireland are not being withdrawn.

The three Scottish banks, Clydesdale Bank, Bank of Scotland and RBS have also started to print their £5 notes on polymer.