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  • FIRST POST
    • purpleroad
    • By purpleroad 16th May 17, 9:45 PM
    • 32Posts
    • 3Thanks
    purpleroad
    Saving the same £10 and £20 notes?
    • #1
    • 16th May 17, 9:45 PM
    Saving the same £10 and £20 notes? 16th May 17 at 9:45 PM
    A friend has lots of cash hidden away. Is there any point in doing this? I mean putting all your £10 and £20 notes in tub and hiding it? WHen they change the notes they will become worthless, wont they? Can you take a few thousand pounds of £20 and change them for the newer notes in a bank or would he get in trouble. Shouldn't he just pay it all in?
Page 1
    • george4064
    • By george4064 16th May 17, 9:49 PM
    • 743 Posts
    • 789 Thanks
    george4064
    • #2
    • 16th May 17, 9:49 PM
    • #2
    • 16th May 17, 9:49 PM
    Just iron them, they will look nice and crisp.
    "If you arenít willing to own a stock for ten years, donít even think about owning it for ten minutesĒ Warren Buffett

    Save £12k in 2016 - #045 £10,358.81/£12,000 (86%)
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    • redped
    • By redped 16th May 17, 10:14 PM
    • 591 Posts
    • 526 Thanks
    redped
    • #3
    • 16th May 17, 10:14 PM
    • #3
    • 16th May 17, 10:14 PM
    Once the notes have been withdrawn from circulation, and assuming they're Bank of England notes, then the BoE will still exchange them -http://www.bankofengland.co.uk/banknotes/Pages/about/exchanges.aspx
    • purpleroad
    • By purpleroad 16th May 17, 10:26 PM
    • 32 Posts
    • 3 Thanks
    purpleroad
    • #4
    • 16th May 17, 10:26 PM
    • #4
    • 16th May 17, 10:26 PM
    Once the notes have been withdrawn from circulation, and assuming they're Bank of England notes, then the BoE will still exchange them -http://www.bankofengland.co.uk/banknotes/Pages/about/exchanges.aspx
    Originally posted by redped

    What would exchange a few thousand pounds worth without recording their name etc lol?
    • redped
    • By redped 16th May 17, 10:38 PM
    • 591 Posts
    • 526 Thanks
    redped
    • #5
    • 16th May 17, 10:38 PM
    • #5
    • 16th May 17, 10:38 PM
    What would exchange a few thousand pounds worth without recording their name etc lol?
    Originally posted by purpleroad
    Eh? If you mean who, instead of what, then it still doesn't make sense - they'll only exchange up to £999 without ID.
    • enthusiasticsaver
    • By enthusiasticsaver 16th May 17, 11:05 PM
    • 3,404 Posts
    • 5,704 Thanks
    enthusiasticsaver
    • #6
    • 16th May 17, 11:05 PM
    • #6
    • 16th May 17, 11:05 PM
    No, there is no point in doing this. Why is he or she reluctant to use a bank?
    Debt and mortgage free and saving for early retirement
    • atush
    • By atush 17th May 17, 10:23 AM
    • 15,813 Posts
    • 9,584 Thanks
    atush
    • #7
    • 17th May 17, 10:23 AM
    • #7
    • 17th May 17, 10:23 AM
    the most import problems with that approach is being burgled, or a fire.

    Put the money in a bank
    • Wookey
    • By Wookey 17th May 17, 11:23 AM
    • 620 Posts
    • 294 Thanks
    Wookey
    • #8
    • 17th May 17, 11:23 AM
    • #8
    • 17th May 17, 11:23 AM
    Put it in a bank or building society account that is paying at least an interest rate at or above the rate of inflation.
    Norn Iron Club member No 353
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