Old fivers and pound coins.

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From the Sun newspaper last month.

Will there be a point when I can never exchange the old £5 note for new currency?
No, in theory you should always be able to exchange it with The Bank of England.

Bank of England notes keep their face value for all time, so don’t panic if you find one in the pocket of an old pair of jeans, there’s always time!


Not sure how you get them to the Bank of England, do they have branches? Maybe in London? I dunno.
 
From the Sun newspaper last month.

Will there be a point when I can never exchange the old £5 note for new currency?
No, in theory you should always be able to exchange it with The Bank of England.

Bank of England notes keep their face value for all time, so don’t panic if you find one in the pocket of an old pair of jeans, there’s always time!


Not sure how you get them to the Bank of England, do they have branches? Maybe in London? I dunno.
I would imagine the 'Bank of England' is any High at bank tbh.
 
From the Sun newspaper last month.

Will there be a point when I can never exchange the old £5 note for new currency?
No, in theory you should always be able to exchange it with The Bank of England.

Bank of England notes keep their face value for all time, so don’t panic if you find one in the pocket of an old pair of jeans, there’s always time!


Not sure how you get them to the Bank of England, do they have branches? Maybe in London? I dunno.
I've got one of those big Stella bottles full of change. There's a canny few pound coins in and a couple of fivers. I was hoping to fill it before busting it open.
 
I believe you can always exchange notes but it's different with coins. Think you have till October to change them.
I might have to concede then and count it up. I bet there's loads of people around who have change jars.
 
It sneaky but it makes economic sense to encourage people to empty their savings pots and piggy banks by obsoleting old money. Get the money back into circulation rather than it sitting on a shelf somewhere.
 
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It sneaky but it makes economic sense to encourage people to empty their savings pots and piggy banks by obsoleting old money. Get the money back into circulation rather than it sitting on a shelf somewhere.
In India recently they announced that a coin was being withdrawn from circulation the next day. For a poor country there was all of a sudden plenty of people queuing at the banks with their rupees.
 
In India recently they announced that a coin was being withdrawn from circulation the next day. For a poor country there was all of a sudden plenty of people queuing at the banks with their rupees.
It was a note iirc. Used heavily in illegal trade and also cash in hand work where the country coffers were losing out massively.
Canny idea in the long run.
 
In India recently they announced that a coin was being withdrawn from circulation the next day. For a poor country there was all of a sudden plenty of people queuing at the banks with their rupees.

I work with an Indian lad, he had a friend who's family was effectively bankrupted by that move. They dealt in cash to keep it from the tax man. Had millions all worthless.
 
I believe you can always exchange notes but it's different with coins. Think you have till October to change them.

That is perfect timing that. When I flew back home last September I found out I had a handful of pound coins in my rucksack. I have a habit of just putting coins into the small pocket at the front and then forget about them. Think there were twenty-one in total and a two pound coin. My flights are booked for this September so if the deadline is sometime in October it sounds like perfect timing to use them up.
 
From the same story, which is what cast my doubt.
It is possible that a high street bank will stop exchanging them after the cut-off date but The Bank of England is legally obliged to.

Should have posted the story/source
https://www.thesun.co.uk/living/263...now-to-make-sure-yours-dont-lose-their-value/

So does that mean you have to go specially all the way down to London carrying yer carrier bags or brown envelopes stuffed with old money ?

Bit risky surely, or is there a local alternative ?
 
Dunno, that was my question.

In the past banks have continued to exchange old notes, doubt it'll be any different this time round.
 
Dunno, that was my question.

In the past banks have continued to exchange old notes, doubt it'll be any different this time round.

I believe the banks had a time limit on for changing twenties a couple of years back.
Also a limit of a couple of thousand or so I believe.

Going to make it a bit tricky for anyone who has stuffed their mattresses,
though I suppose they could always toddle along to Threadneedle st with a hoss and cart like Old Steptoe.
 
You will be able to change them at any bank. The bank just send them back to the BoE.
 
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