To date, £1.2billion worth of paper £20 and £50 banknotes have been deposited at Post Office’s 11,500 branches
£20 notes feature artist JMW TurnerPostmasters have their branches set up to handle large volumes of cash, with more than £3bn in cash deposited and withdrawn at post offices every month.
Martin Kearsley, Post Office banking director, said: “We’re fully aware that people lead busy lives and some may put off depositing their paper £20 and £50 banknotes until the last moment. “Postmasters and their staff are on hand to provide that human reassurance that your old notes have been deposited into your bank account and will provide a receipt too. Most post offices are open long hours, including on Friday.”
Once the September 30 deadline passes and the Bank of England has withdrawn the legal tender status of paper £20 and £50 banknotes, people will still be able to deposit paper notes at their local post office and many UK banks will also accept withdrawn notes as deposits from customers.
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