Should I continue to accept First Trust Bank banknotes?
Until midnight on 30th June 2022
First Trust Bank banknotes remain legal currency until midnight on the 30th June 2022. This means you will experience no change on how you can accept and use First Trust Bank banknotes until this date.
You can continue to accept, pay out and lodge First Trust Bank banknotes into your bank accounts until midnight on the 30th June 2022.
We are gradually withdrawing First Trust Bank banknotes from circulation as we make this transition, and will begin dispensing Bank of England banknotes from AIB Branches and ATMs in Northern Ireland. This means you will see less First Trust Bank banknotes in use from July 2020 until these cease to be legal currency after midnight of the 30th June 2022.
After 30th June 2022
You should no longer accept First Trust Bank banknotes as payment for goods or services. We will work with high street banks and retailers to ensure that there is a smooth transition for banknotes you accept for payment up to midnight on 30th June 2022.
If your business still holds First Trust Bank banknotes, from 1st July 2022 any AIB branch in Northern Ireland will exchange these at no cost for Bank of England banknotes, or other sterling banknotes of equivalent value. There is no time limit on this. Supporting documentation, including proof of identity and address, may be required. Limits may apply
We have also made arrangements with the Post Office® where First Trust Bank banknotes can be exchanged for sterling banknotes at no cost in all of their 11,500 outlets across the UK after 30th June 2022 for another two years, until June 2024. Supporting documentation, including proof of identity and address, may be required. Limits may apply.
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Need further help?
You can also call into your nearest AIB branch in Northern Ireland or call us on 0345 646 0203. Lines are open from 9am to 5pm Monday - Friday (except on bank holidays).
First Trust Bank is a trade mark of AIB Group (UK) p.l.c. (a wholly owned subsidiary of Allied Irish Banks, p.l.c.), incorporated in Northern Ireland. Registered Office 92 Ann Street, Belfast BT1 3HH. Registered Number NI018800. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.