- Hello expat Brits. Recent news reports say British pound (GBP) paper money will no longer be valid from September because they are being replaced by plastic notes. Embassy confirmed when asked. I have a substantial amount of paper notes in pounds. Money changer is offering very low rates to buy paper pounds (but high rates [above $] for plastic notes). Bank won't accept hard cash (even if its a pound sterling account). Any expat Brits out there facing the same issue? Any suggestions?