The Bank of England will withdraw all Houblon £50 Notes which had been in circulation before 2011 to ensure that people use the most up-to-date notes for the day-to-day purchases.
Sir John Houblon was the first Governor of the Bank of England.
In an official statement released on their website, BoE said the old notes will be replaced by £50 notes issued in 2011 bearing the image of Matthew Boulton (Enterprenew) and James Watt (Engineer) who forged the industrial revolution.
In a short video accompanying the statement, released on BoE's website, the bank said the old notes will "lose their legal tender status to ensure that people are using the most up-to-date version of the notes with best security features."
But members of the public who have Houblon £50 notes can continue to use them up to and including the 30 April. After that date, general retailers are unlikely to accept them as payment.
"However, most banks and building societies will continue to accept them for deposit to customer accounts. Agreeing to exchange the notes after 30 April is at the discretion of individual institutions", BoE added.
It said Barclays, NatWest, RBS, Ulster Bank and the Post Office have all agreed to exchange Houblon £50 notes for members of the public - up to the value of £200 - until 30th October, 2014.
If you still have them, BoE said you can spend, deposit or exchange them before the 30th of April.
But the Bank of England will continue to exchange Houblon £50 notes after 30 April, as it would for any other Bank of England note which no longer has legal tender status.
"And of course you can always exchange your old notes here at the Bank of England or look on our website for more details", the video message said.
The above photos are specimen of the Houblon £50 notes that will be withdrawn after 30th April, 2014.
For more detials, please visit the Bank of England website at www.bankofengland.co.uk of click on >>>> [ BoE-WITHDRAWS-HOUBLON-£50-NOTES ]
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