29th September deadline to use paper £100 notes
The Committee of Scottish Bankers (CSCB) issues guidelines on the withdrawal of paper £100 notes from circulation
29th September 2023 set as deadline to use Scottish paper £100 notes.
The Committee of Scottish Bankers, on behalf of the Scottish note issuing banks - Royal Bank of Scotland, Clydesdale Bank, and Bank of Scotland - has announced that there is now less than one week to go until all Scottish paper £100 notes are withdrawn from circulation.
Since 2015, the Scottish issuing banks have been introducing Polymer notes into circulation. Polymer delivers significant benefits over paper, particularly when combined with state-of-the-art security features which make the notes much harder to counterfeit. Polymer is also stronger than paper and so notes will last longer, remain in better condition, and deliver environmental benefits.
The Committee of Scottish Bankers is encouraging the general public to spend or exchange any paper £100 notes in advance of the deadline.
A spokesperson for the CSCB confirmed: “Thanks to the work that the issuing banks have already undertaken to swap the older paper notes with the more secure, environmentally friendly polymer notes, all other denominations have already been replaced with polymer. “
“We have set a deadline for using paper £100 notes as 29th September 2023. The Scottish note issuing banks will continue to accept old paper-based notes and there are currently no plans to change this.”
Advice to customers and non-customers for exchanging notes.
Issuing banks will continue to accept all Scottish notes from their own customers, these can be deposited into their bank account. Royal Bank of Scotland, Clydesdale Bank and Bank of Scotland have also agreed that they will exchange their own paper £100 notes from non-customers up to the value of £200, provided that photographic I.D. is presented.
Other banks, building societies and The Post Office may continue to accept and exchange Scottish paper notes after 29th September 2023.