If you want spending cash for your wallet, you can also trade your coins for bank notes during your bank’s opening hours. If you’ve missed the deadline for old ten pound notes or old five pound notes, but you still have a few in your possession, don’t worry. Friday May 5 marks the last day that the banknote featuring prison reformer Elizabeth Fry will be legal tender. This note replaces our paper £5 note which was withdrawn from circulation on 5 May 2017. The Bank of England is withdrawing the old paper £5 note, featuring a portrait of social reformer Elizabeth Fry, from midnight tomorrow (Friday 5 May). Exchanging old notes. How to Change Old £5 and £10 Notes The paper £5 and £10 notes are long out of circulation, having been replaced by polymer versions in the past few years. Before you start rummaging through your old piggy bank, it’s worth knowing that most people are unlikely to be affected by the change. Shops stopped accepting old paper £10 notes a year ago and old paper £5 notes back in May 2017. Alternatively, your bank or building society may be able to help you at your local branch. Northern Ireland paper £5 and £10 banknotes are to be withdrawn from circulation on Monday. And, you can always exchange withdrawn notes with us. The Post Office may also accept withdrawn notes as a deposit into any bank account you can access at the Post Office. According to the Post Office, around 99 percent of UK account holders can use this service. After 5 May, you can still deposit your £5 notes directly into your UK bank account at any post office. Can I deposit old fivers? Many banks will accept withdrawn notes as deposits from customers. The Bank of England has said it expects the number of old £5 notes in circulation to have halved by January 2017. But old bank notes retain their value for all time, so while you can no longer spend them on the high street, you can return them to the Bank of England, or most major banks if you're a customer, and get a new polymer banknote in exchange. You might be surprised by the … “All Bank of England notes retain their face value for all time,” the Bank says. The Bank of England £5 note, also known as a fiver, is a banknote of the pound sterling.It is the smallest denomination of banknote issued by the Bank of England.In September 2016, a new polymer note was introduced, featuring the image of Queen Elizabeth II on the obverse and a portrait of Winston Churchill on the reverse. The change to polymer £5 notes marks a temporary absence of women, apart from the Queen, on the Bank's banknotes. The deadline for spending old paper £5 Bank of England notes is approaching. Social reformer Elizabeth Fry's portrait has been on the paper £5 note … This means it will lose legal tender status so retailers can refuse to accept the note as payment and you can likewise refuse to take it as part of your change. According to the Bank of Canada, most of the bills included in the update have not been produced in “decades” and therefore aren't commonly used in day-to-day transactions..