New polymer £50 to come on June 23 – but you can use paper ones for a while yet

The Bank of England has unveiled its new £50 note featuring World War 2 code breaker Alan Turning.

The new polymer note will be the last of the Bank’s collection to switch from the old paper versions.

It joins the Sir Winston Churchill £5, the Jane Austen £10 and the JMW Turner £20 – meaning all the Bank of England banknotes will be in polymer.

Like the most recent £20 note, it incorporates two windows and a two-colour foil, making it very difficult to counterfeit.

It also features a hologram image, which changes between the words “Fifty” and “Pounds”, when tilting the note from side to side.

So when will the new note be in circulation, and how long can you use your old fifty pound notes? Here is all you need to know.

When is the new £50 note out?

The new note is coming on Wednesday June 23 2021, which would have been the mathematician’s 99th birthday.

It’s also two days after all the coronavirus lockdown restrictions are expected to be lifted!

When will shops stop taking old notes?

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The Bank of England is yet to announce which date the old £50 will be withdrawn from circulation, so you can carry on using it.

It said: “You will be able to use the paper £50 note until we withdraw it from circulation.”

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But they are expected to announce the date soon, because they issue the date “after we have issued our new polymer £50 note”.

The good news is that the Bank of England will give at least six months’ notice of the date you’ll no longer be able to use the paper £50.

It’s expected they will be accepted in shops for quite some time, so there is no rush yet.

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