This agreement also extends to the old round pounds that were officially demonetised in 2017. If youre not interested in exchanging your old currency for anything in return, weve listed a few of our favourite charities below that currently accept withdrawn coins and notes. Email us at money@the-sun.co.uk, I worked in Wetherspoons for 5 years - here's the dishes you should avoid, Iconic dessert making a comeback in cost of living crisis - it only costs 2, Aldi shoppers rush to buy heating gadget that warms up your room 'in minutes', High street giant to close depots putting 1,400 jobs at risk as it shuts shops, News Group Newspapers Limited in England No. We often link to other websites, but we can't be responsible for their content. Currency within the UK changes fairly frequently leading to coins and banknotes being taken out of circulation. *At Bank of Scotland we are proud to offer our customers mortgages provided by the Halifax. Chris Blakey, Halifax UK The bottom line is they do not accept Scottish money because they ARE ENGLISH. The Halifax Bank of Scotland is a commercial bank. The Charles Darwin 10 note stopped being legal tender at 23:59 on March 1. Most UK banks will allow you to pay in old paper bank notes however this is at their discretion as they will usually insist you have an account there. so do note you use the information at your own risk and we can't accept liability if things go wrong. Can Bank of Scotland use Halifax? But it's not just new notes to watch out for. It's more common than you might think, the Bank of England says there are still a whopping 212million paper notes in circulation that can no longer be used. Old paper 20 notes expired on 30 September 2022. It also says you can send notes to it by post, but at your own risk. Whistleblowing is when an employee reports suspected wrongdoing at work. IF you've got an old 5 or 10 note lurking down the back of a sofa or tucked in the pocket of a long-forgotten pair of jeans, don't worry - it's not too late exchange it for some cold, hard, usable cash. The Bank of England has told us it doesn't know the exact make-up of the notes still out there, so some of the missing 10 notes will predate the Darwin design - occasionally, the bank does see notes from as far back as the 1960s being returned. We have a published approach to regulating Scottish and Northern Ireland banknotes. Did not even know they existed but a quick googley shows they do. This should be done by recorded or special delivery - however once again it warns that this too could mean, a wait time for your payment may be in excess of 30 days. Future Publishing Limited Quay House, The Ambury, If youre sending less than 50 to them, you can expect to receive new notes in the post in exchange. 0 [Deleted User] Posts: 1,693. These are the notes you can exchange at a Post Office. If youre looking to exchange old banknotes in return for useable money of equal value, your best bet is to send it directly to the Bank of England. This topic has been closed to new posts due to inactivity. Cheers. You may disable these by changing your browser settings, but this may affect how the website functions. you should try the halifax app for the next one, you get cleared funds the next day The app for paying in cheques only works if the cheque is drawn on a bank that also uses the updated cheque clearing system. To use our mobile site, please enable JavaScript. Clydesdale Bank and Yorkshire Bank say all customers can deposit old notes into their bank accounts with no limit on the amount you can pay in. Maybe. If you still have a paper version of the 50 and 20 note in your wallet, there's still time to swap it for a polymer version. We use the Halifax/BOS. Santander also said it will allow customers to deposit old 10 notes into their accounts after March 1, as did Barclays, Lloyds Bank, Halifax, Bank of Scotland, HSBC and Nationwide Building Society. Taking your old currency to your bank is a good way to quickly get it exchanged without having to worry about posting it. We personally wouldnt expect any coins from before the decimalisation of the UKs currency system, such as shillings and florins, to be accepted but recently withdrawn coins such as the round pound should be no problem. But, according to the Bank of England, there is around 6bn worth of 20 paper notes and over 8bn worth of paper 50 notes in circulation thats around 300 million individual 20 notes and 160 million 50 notes that havent been used before the notes were withdrawn from circulation. Cash of less than 20 will be exchanged for polymer notes.. Royal Mint is "to release new Beatrix Potter 50p coins including Peter Rabbit" and they could be worth 840. We use analytics cookies so we can keep track of the number of visitors to various parts of the site and understand how our website is used. Report . The final date you can use paper 50 notes is September 30 next year - the same goes for paper 20 notes. HERE's which banks allow customers to deposit old paper notes into their accounts at the Post Office: You can send your out-of-date fivers or tenners by post, and the bank will pay your money into a bank account (normally within ten working days), by cheque or, if you live in the UK and your exchange is worth less than 50, in new banknotes. Warning as old 20 notes set to become unusable. Those of you who are looking to sell large amounts of coins without searching through or trying to sort them may have better luck by selling them as a job lot. The Scottish banks issue notes in denominations of 5, 10, 20, 50 and 100. Ian Payne is Leading Britain's Conversation. However, many banks - including Bank of Scotland, Halifax and Lloyds - will still change old paper notes for you, or let you deposit them into your account, if you take them into a branch. So here's what to do with these old notes: Does it have to be BoE notes? Does it have to be BoE notes? This means you cant use them in shops or as payment any more. Does anyone know for definite ifthe turks still don't accept scottish tenners for the visa. "But these new figures show that's far from the case in fact, a massive amount of cash is still out there. The term legal tender does not in itself govern the acceptability of banknotes in transactions. Get our money-saving tips and top offers direct to your inbox with the Mirror Money newsletter. Does it have to be BoE notes? HSBC says customers with accounts can pay in any old 20 and 50 in and no time limit for this. The transition from paper notes to polymer notes is part of increased security measures. You will need to complete this form and provide a copy of some photo ID. Its also worth checking old coins for particular dates that are more valuable to collectors. The Bank of England says that the easiest way to exchange notes is by depositing them with your UK bank account, if you have one. This is generally referred to as 'making a disclosure in the public interest'. Martin Kearsley, banking services director at the Post Office - which has 11,600 branches across the UK, has said: "Thanks to an agreement with all UK high street banks, everyone can deposit cash and cheques, including any old notes, into their usual high street bank account at their local Post Office branch.". The transfer of funds can take up to 10 working days. Old 20 and 50 paper notes stopped being legal tender in the UK on 30 September 2022. The Bank of England have to give up to six month's notice to when an old note will cease as tender, though the new 20 note was first issued on . That phrase "I promise to pay the bearer on demand" is something that doesn't have a time limit on it, the Bank told Mirror Money. Northern Irish banknotes. This was the same date that the old 50 note expired. This info does not constitute financial advice, always do your own research on top to ensure it's right for your specific circumstances and remember we focus on rates not service. more. Demand for this commodity jumped in 2020, sending prices skyward. When it comes to banknotes, there are a few things to look out for to determine their collectability. View our online Press Pack. Nationwide says it accepts old notes (and coins) from existing members as they have to be paid into an existing account they hold with the Society. Virgin Money says Old notes can be exchanged in any Virgin Money store up to the value of 250. oh, so not so hard to get hold of this funny english money!!!! All you have to do is fill out the form below and attach a clear image of both sides of the coin. Banks and building societies happy to exchange the old notes. We use your sign-up to provide content in the ways you've consented to and improve our understanding of you. If youre up for the trip you can go to the Bank of England in London where you can hand over your old withdrawn notes at the counter for shiny new polymer ones. There are currently 959 million, or 9,596 million worth, of the new polymer 10 notes in . Do note, while we always aim to give you accurate product info at the point of publication, unfortunately price and terms of products and deals can always be changed by the provider afterwards, so double check first. If you are an individual, you can exchange your banknotes with the Bank of England over the counter or by post, but you must fill out an application form and take into consideration safety measures against loss or theft. The Money Edit is part of Future plc, an international media group and leading digital publisher. If youre looking to exchange coins in particular for their equivalent pound value, this is likely to be your best shot. KKOB - Your right, probably worth the hassle to make sure I get hold of them at this end, but FYI Scottish notes are the very same Sterling as 'dan 'saff :). England and Wales company registration number 2008885. Old coins can sell for as much as 10 a kilogram on eBay. "The Sun", "Sun", "Sun Online" are registered trademarks or trade names of News Group Newspapers Limited. Not only was Turing a computer pioneer, he broke the Enigma code during World War II, aiding British and Allied forces in claiming victory. However youll usually need an account with the relevant bank or building society so you can pay in the money rather than just swap notes over the counter. In short, we are responsible for checking if the six Scottish and Northern Ireland banks that issue banknotes are complying with the asset-backing rules. Oxfam An organisation dedicated to ending poverty and providing the means to live to millions of people around the world, Midlands Air Ambulance Provides life-saving air support to six Midlands counties, Alzheimers Society Supports people affected by dementia and funds research towards a cure. Regardless of their age, there are ways to get some money back for them but we encourage everyone who can to consider donating their old currency to charity where possible. LBC News Different banks have their own rules in place covering how they will handle paper banknotes while some are happy to exchange them for new polymer notes, others are not so understanding. on the web. Members who are knowledgeable about this destination and volunteer their time to answer travelers' questions. Do note, while we always aim to give you accurate product info at the point of publication, unfortunately price and terms of products and deals can always be changed by the provider afterwards, so double check first. Coinciding with what would have been his birthday, the Bank of England today has released its newly-designed 50 bank note, featuring mathematician and computer scientist, Alan Turing. Does it have to be BoE notes? If you dont have an account with a bank or building society your only option may be to take a trip to the Bank of England and swap your note in person. Necessary cookies enable core functionality on our website such as security, network management, and accessibility. Keep in mind that it may not be in your best interest to send large amounts of money via post. By post: You can also post your old notes to the Bank, but note that this is done at your own risk and you may want to insure yourself against loss before sending banknotes in the post. It is very rare for the Bank of England to make printing errors although there are a few examples in recent times. In short 'No' these notes are not legal tender; only Bank of England notes are legal tender but only in England and Wales. 1.5K Posts. It's up to them. But what should you do if you come across any old ones? Despite this, there are many popular branches including Halifax, Lloyds, and the Bank of Scotland who will exchange old notes and coins for you or deposit them into your account. 679215 Registered office: 1 London Bridge Street, London, SE1 9GF. Lloyds says customers can exchange or deposit 20 and 50 paper Bank of England or Bank of Scotland bank notes into Lloyds Bank, Halifax or Bank of Scotland accounts. Businesses and shops will no longer be obliged to accept. Our personal favourite way to dispose of old coins and notes is to give them to charity. But can you still exchange them, will banks - or anyone else - accept them and what should you do with any you find? 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