You’ll still be able to receive payments to your old 'GB' IBAN for up to 6 months (until June 30th 2021). To help make this transition smoother we have implemented a redirection service which will ensure that any payment received to your old 'GB' IBAN will be delivered to your new IBAN starting with 'LT'. However, European banks may impose a fee for making payments to 'GB' IBANS after December 31st, 2020. so it is advisable to make the change as soon as possible.
We will inform you by email each time we receive a payment directed to your old 'GB' IBAN. While you will still receive your payment, this will remind you to inform counterparties that your IBAN has changed.