The Bank of England is withdrawing one of two £50 notes from circulation at the end of April. The £50 note featuring Sir John Houblon, the first Governor of the Bank of England, will no longer be accepted by retailers after April 30.
The public will be able to exchange the currency for £50 notes featuring Matthew Boulton and James Watt, developers of the steam engine, until October 30 at Barclays, NatWest, Royal Bank of Scotland, Ulster Bank and the Post Office.
The Bank will continue to switch old notes after the cut-off date. Banks and building societies may also continue to accept the Houblon £50 for deposits, it said.
The Houblon £50 is the oldest note in circulation, having been introduced in 1994, and