Banknote Frequently Asked Questions
This page provides answers to frequently asked questions related to First Trust Bank banknotes ceasing to be legal currency from midnight on 30th June 2022
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Why have you decided to stop issuing banknotes?
This was a commercial decision which took into account the increasing use of digital payment methods and mobile technology.
We remain fully committed to Northern Ireland. We are supporting our customers by offering digitally-enabled personal products and services, business banking with a local market presence and a mortgage proposition to intermediary and direct markets. Over the last year we have invested £10m in transforming our business and we continue to invest in our products and services, including ongoing digital investment.
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What does this mean for me as a noteholder?
We strongly encourage all First Trust Bank noteholders to lodge/exchange their notes as soon as possible.
From 1 July 2022 you will have the following options:
AIB (NI)
We will continue to accept First Trust Bank banknotes from our customers for deposit to their accounts. We will also exchange First Trust Bank banknotes for Bank of England banknotes, or other sterling banknotes of equivalent value, when presented in person at AIB branches in Northern Ireland at no cost. There is no time limit on this. Supporting documentation, including proof of identity and address will be required and limits will apply.
Post Office
Post Office outlets in Northern Ireland will continue to accept First Trust Bank banknotes to support any cash deposit transaction. There are currently no plans to change this.
Northern Ireland
The Northern Ireland note issuing banks (Danske Bank, Ulster Bank and Bank of Ireland) will continue to accept First Trust Bank banknotes from their customers, for deposit into their respective accounts. There are currently no plans to change this.
Scotland, England and Wales
The Scottish note issuing banks (Royal Bank of Scotland, Virgin Money (formerly Clydesdale Bank) and Bank of Scotland) will continue to accept First Trust Bank banknotes from their customers, for deposit into their respective accounts. There are currently no plans to change this.
Republic of Ireland
AIB branches in Republic of Ireland will continue to accept First Trust Bank banknotes from their customers for deposit to their accounts. They will also exchange First Trust Bank banknotes for Bank of England banknotes for their own customers when presented in person at no cost. This service will be available for a limited period until 31st December 2022. Supporting documentation, including proof of identity and address will be required and limits will apply.
Post Office Cash Exchange Service
A free cash exchange service will be available in Northern Ireland in the Post Office at Bridge Street, Belfast for a limited period until 30th September 2022. Limits and ID requirements apply.
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What does this mean for me as a retailer or business owner?
We strongly encourage all First Trust Bank noteholders to lodge/exchange their notes as soon as possible.
You can continue to spend, accept and lodge First Trust Bank banknotes as normal until midnight on 30th June 2022. These banknotes will remain legal currency during this time and can be accepted as normal.
From 1 July 2022 you will have the following options:AIB (NI)
We will continue to accept First Trust Bank banknotes from our customers for deposit to their accounts. We will also exchange First Trust Bank banknotes for Bank of England banknotes, or other sterling banknotes of equivalent value, when presented in person at AIB branches in Northern Ireland at no cost. There is no time limit on this. Supporting documentation, including proof of identity and address will be required and limits will apply.
Post Office
Post Office outlets in Northern Ireland will continue to accept First Trust Bank banknotes to support any cash deposit transaction. There are currently no plans to change this.
Northern Ireland
The Northern Ireland note issuing banks (Danske Bank, Ulster Bank and Bank of Ireland) will continue to accept First Trust Bank banknotes from their customers, for deposit into their respective accounts. There are currently no plans to change this.
Scotland, England and Wales
The Scottish note issuing banks (Royal Bank of Scotland, Virgin Money (formerly Clydesdale Bank) and Bank of Scotland) will continue to accept First Trust Bank banknotes from their customers, for deposit into their respective accounts. There are currently no plans to change this.
Post Office Cash Exchange Service
A free cash exchange service will be available in Northern Ireland in the Post Office at Bridge Street, Belfast for a limited period until 30th September 2022. Limits and ID requirements apply.
For more detailed information, visit our information page for retailers.
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What happens if I am not a customer of yours?
We strongly encourage all First Trust Bank noteholders to lodge/exchange their notes as soon as possible.
From 1 July 2022 you will have the following options:
AIB (NI)We will continue to accept First Trust Bank banknotes from our customers for deposit to their accounts. We will also exchange First Trust Bank banknotes for Bank of England banknotes, or other sterling banknotes of equivalent value, when presented in person at AIB branches in Northern Ireland at no cost. There is no time limit on this. Supporting documentation, including proof of identity and address will be required and limits will apply.
Post Office
Post Office outlets in Northern Ireland will continue to accept First Trust Bank banknotes to support any cash deposit transaction. There are currently no plans to change this.
Northern Ireland
The Northern Ireland note issuing banks (Danske Bank, Ulster Bank and Bank of Ireland) will continue to accept First Trust Bank banknotes from their customers, for deposit into their respective accounts. There are currently no plans to change this.
Scotland, England and Wales
The Scottish note issuing banks (Royal Bank of Scotland, Virgin Money (formerly Clydesdale Bank) and Bank of Scotland) will continue to accept First Trust Bank banknotes from their customers, for deposit into their respective accounts. There are currently no plans to change this.
Post Office Cash Exchange Service
A free cash exchange service will be available in Northern Ireland in the Post Office at Bridge Street, Belfast for a limited period until 30th September 2022. Limits and ID requirements apply.
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I live in Great Britain (England, Scotland or Wales), what does this mean for me?
We strongly encourage all First Trust Bank noteholders to lodge/exchange their notes as soon as possible.
From 1 July 2022 noteholders in Great Britain will have the following options:
AIB (NI)
We will continue to accept First Trust Bank banknotes from our customers for deposit to their accounts. We will also exchange First Trust Bank banknotes for Bank of England banknotes, or other sterling banknotes of equivalent value, when presented in person at AIB branches in Northern Ireland at no cost. There is no time limit on this. Supporting documentation, including proof of identity and address will be required and limits will apply.
Post Office
Post Office outlets in Northern Ireland will continue to accept First Trust Bank banknotes to support any cash deposit transaction. There are currently no plans to change this.
Northern Ireland
The Northern Ireland note issuing banks (Danske Bank, Ulster Bank and Bank of Ireland) will continue to accept First Trust Bank banknotes from their customers, for deposit into their respective accounts. There are currently no plans to change this.
Scotland, England and Wales
The Scottish note issuing banks (Royal Bank of Scotland, Virgin Money (formerly Clydesdale Bank) and Bank of Scotland) will continue to accept First Trust Bank banknotes from their customers, for deposit into their respective accounts. There are currently no plans to change this.
Republic of Ireland
AIB branches in Republic of Ireland will continue to accept First Trust Bank banknotes from their customers for deposit to their accounts. They will also exchange First Trust Bank banknotes for Bank of England banknotes for their own customers when presented in person at no cost. This service will be available for a limited period until 31st December 2022. Supporting documentation, including proof of identity and address will be required and limits will apply.
Post Office Cash Exchange Service
A free cash exchange service will be available in Northern Ireland in the Post Office at Bridge Street, Belfast for a limited period until 30th September 2022. Limits and ID requirements apply.
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I live in the Republic of Ireland, what does this mean for me?
We strongly encourage all First Trust Bank noteholders to lodge/exchange their notes as soon as possible.
From 1 July 2022 noteholders outside the UK will have the following options:
AIB (NI)
We will continue to accept First Trust Bank banknotes from our customers for deposit to their accounts. We will also exchange First Trust Bank banknotes for Bank of England banknotes, or other sterling banknotes of equivalent value, when presented in person at AIB branches in Northern Ireland at no cost. There is no time limit on this. Supporting documentation, including proof of identity and address will be required and limits will apply.
Post Office
Post Office outlets in Northern Ireland will continue to accept First Trust Bank banknotes to support any cash deposit transaction. There are currently no plans to change this.
Northern Ireland
The Northern Ireland note issuing banks (Danske Bank, Ulster Bank and Bank of Ireland) will continue to accept First Trust Bank banknotes from their customers, for deposit into their respective accounts. There are currently no plans to change this.
Scotland, England and Wales
The Scottish note issuing banks (Royal Bank of Scotland, Virgin Money (formerly Clydesdale Bank) and Bank of Scotland) will continue to accept First Trust Bank banknotes from their customers, for deposit into their respective accounts. There are currently no plans to change this.
Republic of Ireland
AIB branches in Republic of Ireland will continue to accept First Trust Bank banknotes from their customers for deposit to their accounts. They will also exchange First Trust Bank banknotes for Bank of England banknotes for their own customers when presented in person at no cost. This service will be available for a limited period until 31st December 2022. Supporting documentation, including proof of identity and address will be required and limits will apply.
Post Office Cash Exchange Service
A free cash exchange service will be available in Northern Ireland in the Post Office at Bridge Street, Belfast for a limited period until 30th September 2022. Limits and ID requirements apply.
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Will I still be able to deposit sterling banknotes from other banks to my AIB (NI) account?
Yes, there will be no change in how we handle sterling banknotes issued by the Bank of England or other authorised note issuing banks.
Our decision is solely in respect of First Trust Bank banknote issuance. We will continue to handle sterling banknotes issued by the Bank of England or any of the other authorised note issuing banks in Northern Ireland (Bank of Ireland, Ulster Bank, Danske Bank) and Scotland (Clydesdale Bank, Bank of Scotland and The Royal Bank of Scotland).
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How can I check if I have a relevant banknote?
Please view our banknote section where you will find a catalogue of our notes with their security features
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What can I do with old sterling Provincial Bank of Ireland and sterling Allied Irish Banks banknotes?
Old sterling Provincial Bank of Ireland Limited, Allied Irish Banks Limited and Allied Irish Banks p.l.c. banknotes can be exchanged for the equivalent face value in Bank of England banknotes, or other sterling banknotes of equivalent face value, in person at AIB branches in Northern Ireland, at no cost. There is no time limit on this.
Supporting documentation, including proof of identity and address, may be required. Limits may apply.
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I have a First Trust Bank banknote with a low serial number, are they worth more than their face value because of their rarity?
All our banknotes, regardless of their serial number, are only ever worth their face value to us.
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I am a note collector, can I get a set of your old/current banknotes?
We don’t offer this service, as we are currently withdrawing our notes from circulation. Therefore we are unable to fulfil any such requests.
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What are the acceptable forms of proof of ID and address that may be required?
Please see https://aibni.co.uk/verification-of-identification.
For Noteholders in the Republic of Ireland, please see https://aib.ie/our-products/savings-and-deposits/personal-identification-requirements
Post Office and the Post Office logo are registered trademarks of Post Office Limited. © Post Office Limited 2009. Reproduced by kind permission of Post Office Limited. All rights reserved.
I have a question that's not answered in the above FAQ's. What do I do?
Alternatively you can submit your question online and we will aim to come back to you within 3 working days. To submit a question, select the option below that best matches your type of query:
I am a noteholder
I am a voluntary group or relevant body
I am a retailer
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