Old £10 note deadline: Bank of England reveals THIS is when notes go out of circulation

The old £10 note will cease to be legal tender from 1 March 2018, the Bank of England has confirmed.

After this date, the old notes will only be able to be exchanged at the Bank of England.

They have been in circulation since 7 November 2000 and feature a portrait of Charles Darwin.

A new polymer £10 note was introduced on 14 September this year, and will become the only legal ten pound note once the old style disappears.

Charles Darwin did not make it onto the updated note, and was replaced with Jane Austin.

Over one billion new £10 notes were printed ready for issue back in September.

Speaking about the new note at the time, BofE governor Mark Carney said: “The new £10 note celebrates Jane Austen’s work. Austen’s novels have a universal appeal and speak as powerfully today as they did when they were first published.

“The new £10 will be printed on polymer, making it safer, stronger and cleaner.

“The note will also include a new tactile feature on the £10 to help the visually impaired, ensuring the nation’s money is as inclusive as possible.”

Polymer notes are being introduced across the board by the Bank of England as a way to reduce forgery.

The new notes are also said to be indestructible, and it is hoped they will last significantly longer than their predecessors.

They also have a tactile feature to help blind and partially sighted people identify them.

Around 55 per cent of £10 notes currently in circulation are the polymer version, while the remaining 359 million are paper ‘old style’ notes.

The £5 note has already been completely switched over to the new version, with the old style being taken out of circulation in May.

Winston Churchill features on the new £5 note, while prison reformer Elizabeth Fry was on the old note.

At the time, many major banks and building societies confirmed that customers could continue to deposit old £5 notes after the cut-off date, so the same may happen for the £10 note.