14/11/2017 07:55 GMT

Old £10 Note Cut-Off Date Revealed By The Bank Of England

It will cease to be legal tender after this date.

The old £10 note needs to be spent by March next year, the Bank of England has revealed.

The old currency will cease to be legal tender by 11.59pm on Thursday, March 1 after the new notes featuring Jane Austen were released earlier this year.

Old notes can still be spent before this cut-off date and exchanged at the Bank once this point has passed.

PA Wire/PA Images
The Governor of the Bank of England, Mark Carney, during the unveiling at Winchester Cathedral, of the new £10 note featuring Jane Austen, which marks the 200th anniversary of Austen's death.

The Bank introduced the paper £10 note featuring naturalist Charles Darwin on November 7, 2000.

About 55% of the £10 notes in circulation are made from polymer, while 359 million are paper.

The new £10 banknote, which was introduced on September 14 and features a picture of Jane Austin, is the first Bank of England note with a tactile feature to help blind and partially-sighted users.

Like the £5 note already in circulation featuring Sir Winston Churchill, the new £10 banknote is made from polymer, which is more durable and expected to last five years in total.

The transition to polymer has sparked controversy after the Bank confirmed that an “extremely small amount” of tallow – or animal fat – was used to produce polymer pellets, which were part of the production process for creating the notes.

People who still have paper £5 notes can exchange them at the Bank of England in person, or via post by completing a form and sending the note to Department NEX, Bank of England, Threadneedle Street, London, EC2R 8AH.

Old pound coins can no longer be spent, but can be donated to charity or deposited into customer bank accounts.