It has been four months since the new plastic £5 notes came into circulation, and there’s just four months left until the paper version are phased out completely.
Almost 165 million paper £5 notes are still in circulation but will cease to be legal tender from May 5 - meaning you won’t be able to use them.
The Bank of England has predicted the number of old £5 notes in circulation to have already halved.
After May 5 you will need to exchange your five pound notes at your nearest bank, building society or post office.
However High Street banks may refuse to exchange notes after the cut-off date.
The Bank of England is getting rid of paper £5 notes, but banks in Scotland and Northern Ireland may not follow suit.
Paper notes issued in Scotland and Northern Ireland will remain legal tender.
The old £5 notes will be recycled using a composting treatment.
A £10 note featuring novelist Jane Austen will be issued this summer and will be followed by a new £20 in 2020 featuring painter JMW Turner.
There is also plans for The Royal Mint to be issuing a new £1 coin in March and there are no plans to replace the £50 note yet.
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