More than 50 per cent of all Fry fivers have already been returned to the Bank to be destroyed but there are still around 160 million notes left in circulation.
After May 5, retailers and the public no longer have to accept the paper £5 note as payment or in change and the new polymer note featuring Sir Winston Churchill will be the only £5 note with legal tender status.
Some banks and building societies may accept paper £5 notes after that date, but it is at their own discretion.
You can still get them exchanged for the polymer notes by the Bank of England at any time.
The new polymer £5 note was first issued in September last year.