Anyone still using paper £20 and £50 notes has until the end of money and then they will no longer be able to purchase goods with their money.

The Bank of England says the banknotes will only be in circulation until September 30, before their legal tender ends.

Any residents who still have them are being encouraged to use them or deposit them at their bank or a Post Office before the end of September.

While the majority of paper £20 and £50 banknotes in circulation have been replaced with new polymer versions, there are still more than £6 billion-worth of paper £20 banknotes featuring economist Adam Smith, and over £8 billion-worth of paper £50 banknotes featuring entrepreneur Matthew Boulton and engineer James Watt, in circulation.

That is more than 300 million individual £20 banknotes, and 160 million paper £50 banknotes.

It is a year since the Bank first issued the polymer £50 banknote featuring Bletchley Park codebreaker and scientist Alan Turing.

The Bank of England’s chief cashier Sarah John said in June: “Changing our banknotes from paper to polymer over recent years has been an important development, because it makes them more difficult to counterfeit, and means they are more durable.

“The majority of paper banknotes have now been taken out of circulation, but a significant number remain in the economy, so we’re asking you to check if you have any at home.

“For the next 100 days, these can still be used or deposited at your bank in the normal way.”