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This is obviousely a "warning" for non UK members. If you're like me and keep your foreign curency for a next visit to the place where it's accepted, you should check your £. The Bank Of England is withdrawling the paper notes (in profit of polymer money). The £5 and £10 paper notes are already not accepted anymore in the shops and £20 and £50 will be in use until the 30th September 2022 (next year). After that, I understand they will still be valid (as the "old" £5 and £10) if you go to the Bank Of England, in London, to exchange them for new notes (which is good to know but not practical if you're in the UK as a tourist for a limited time and not in London). With the covid situation, many people didn't go to the UK for the last two years, so there is a good chance some are in possession of paper notes. Hopefully things will improve and film fairs in the UK will be reacheable again before the 30th September 2022 and we'll be able to use our paper £ notes.
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The new polymer notes allow for enhanced security features, and as they are stronger, it is expected they will last much longer than the previous paper notes. -
Dominique, I'm pretty sure that every time a bank note has been taken out of circulation here in the UK, that any bank in the land will exchange them for the new notes. I don't think there is any time limit either on how long after they have been removed from circulation that you can get an exchange.Comment
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I don't know, Gary, the Bank Of England site says : "If you have a UK bank account, the simplest and quickest way to exchange your notes will normally be to deposit them with your bank. The Post OfficeOpens may also accept withdrawn notes as payment for goods and services, or as a deposit into any bank account you can access with them." So, you need an UK bank account (which foreigners don't have) or buying a lot of stamps. Maybe UK banks offer a free exchange ? I have a friend who had old £50 and could exchange some of them in a Belgian exchange office but at the unfavorable rate of £50 for €50 (that was a few years ago, so the £ was stronger than now). I offered her to exchange the remaining notes in London since I was going there anyway, and went at the Bank Of England's office. Of course, if there is an easier way, it's better.Comment
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I'm sure I took a withdrawn note into a bank where I didn't have an account and there was no problem getting it exchanged (for the same value). It was a few years ago, so I could be mistaken. The thing with post offices may be more to do with them now taking on some banking services. I only know this because my local HSBC bank is closing next month. When they told me, they reassured me that it would be okay because I can now use the post office to do most of my banking, such as paying cheques into my HSBC account. I asked them if they had seen the queues at the post office these days (ebay sellers usually)!!!Comment
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Well , look you guys , I got a 10pound note as a tip ( and kept it for GOOD luck ) 10 years ago . I will never exchange it , EVER !
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Not a bad tip for 10 years ago David. Barely enough for a couple of cups of coffee today! 😄Comment
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Thanks Gary , I STILL wouldn't exchange it ....even if I needed the CAFFINE !Comment
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Back to the subject, at some point, in the near future, all of the world will be forced,(quite willingly, surprisingly), into being a cashless, all digital society. Though it will be stated to be in the common good, it will also be far easier to control all of society. If you choose to defy this or that unlawful demand of society, society will quickly freeze all your assetts until you comply. 1984 may be a little late, but we are sure getting close to that world today.Comment
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I think Covid has brought about the vast reduction in the use of cash.Handling notes and coins from strangers in shops is an obvious risk best avoided. Except for car parking,I havnt used cash since the start of the first lockdown last year.Comment
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