Should I continue to accept First Trust Bank banknotes?

 

Until midnight on 30th June 2022

Yes.

 

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.

 

From 1 July 2022

No.

 

We strongly encourage all First Trust Bank noteholders to lodge/exchange their notes as soon as possible.

 

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 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. Limits and ID requirements will apply.

 

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.

Need further help?

If you cannot find the information you need in our frequently asked questions or on this webpage, submit a question online and we will come back to you.

 

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).

 

Related information

 

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.

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