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11/04/2017
Bank Of England Paper £5 Note To Be Withdrawn From Circulation
Bank of England has announced that its paper five pound notes will be withdrawn from circulation on 05 May, 2017.
After this date the note will cease to be legal tender, however the Bank of England will continue to accept them, with no time limit applied. After this date it will be left to businesses to decide whether to continue accepting the notes.
After 05 May 2017 businesses in Northern Ireland will no longer have to accept the Bank of England paper notes, however, businesses should not continue to dispense the notes.
If businesses use cash handling machines, they are advised to contact the manufacturer to make any necessary adaptions. Businesses are also advised to train their staff about the withdrawal of the paper notes.
The Bank of England are also planning to replace paper £10 and £20 notes with polymer notes:
• the new £10 note will be issued in summer 2017 and feature Jane Austen
• the new £20 note will be issued by 2020 and feature JMW Turner
Three Scottish banks are also moving to polymer notes.
(MH/CD)
After this date the note will cease to be legal tender, however the Bank of England will continue to accept them, with no time limit applied. After this date it will be left to businesses to decide whether to continue accepting the notes.
After 05 May 2017 businesses in Northern Ireland will no longer have to accept the Bank of England paper notes, however, businesses should not continue to dispense the notes.
If businesses use cash handling machines, they are advised to contact the manufacturer to make any necessary adaptions. Businesses are also advised to train their staff about the withdrawal of the paper notes.
The Bank of England are also planning to replace paper £10 and £20 notes with polymer notes:
• the new £10 note will be issued in summer 2017 and feature Jane Austen
• the new £20 note will be issued by 2020 and feature JMW Turner
Three Scottish banks are also moving to polymer notes.
(MH/CD)
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Northern Bank posts record annual results
The annual results from the Northern Bank have revealed pre-tax profits of £111m up 13% on the previous corresponding year-end figures. The results include a £19.9m profit in relation to the disposal of subsidiary company Northern Bank Insurance Services to Wealth Management Europe Holdings another subsidiary of National Australia Bank.
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Ulster Bank Announce New Vertical Bank Notes
Ulster Bank has announced the introduction of two new vertical polymer banknotes, which will enter circulation in 2019. The new £5 and £10 notes are based on the theme 'living in nature' and will feature Strangford Lough, Brent geese, Lough Erne, the Irish hare and Guelder-rose shrubs.
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Bank Of England Governor Meets With NI Business Leaders
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Northern Ireland WeatherToday:It will be cloudy again throughout the day. Mainly dry in the morning, but patchy drizzle in places, becoming more widespread and persistent in the afternoon. Freshening southwesterly winds. Maximum temperature 12 °C.Tonight:Cloudy with a spell of heavy rain pushing south through late evening and the early hours, followed by some clear spells. Minimum temperature 6 °C.
