£20 Notes

MCGONIS

A cashier with commen sense will accept your bank note without hesitation. They just take them out of circulation and let the Girobank deal with them.

They are classed as mutilated notes. They get put aside with all the damaged ones! I wish they would bring back the Victoria Wine Company! There was no problem accepting notes of all sorts, I miss my job there.

zppp

MCGONIS wrote: »

A cashier with commen sense will accept your bank note without hesitation.

But it isn't legal tender, so why would they?

davetrousers

zppp wrote: »

But it isn't legal tender, so why would they?

Do you know what the term legal tender means?

kazzymac_2

I had one of these notes which I didnt know about until I tried to pay for something in Primark and it was refused. Anyway I went into my local HSBC and the cashier exchanghed it for another one. This was last week though.

zppp

davetrousers wrote: »

Do you know what the term legal tender means?

Yes, and I think the Bank of England does too;

17 June 2010 The £20 banknote bearing the portrait of composer Sir Edward Elgar, has less than two weeks left in everyday use. On 8 March the Bank of England announced the note’s withdrawal from circulation on 30 June 2010. After this date the Elgar note will no longer have ‘legal tender’ status so will be less likely to be accepted in payment or in change, in retail outlets. The Adam Smith £20, first introduced in 2007, has gradually replaced its Elgar predecessor and continues in circulation.

Kaleidoscope27

I work in retail and no one's told us which notes we can and can't accept. So I'm guessing we're still accepting them and the cash office or somewhere is dealing with them. *shrugs*

Fiddlestick

zppp wrote: »

Yes, and I think the Bank of England does too;

Legal tender is quite different from legal currency...

Olipro

zppp wrote: »

But it isn't legal tender, so why would they?

the bank could refuse to accept the new notes if they wanted to; you're only obliged to accept legal tender if it's for payment of an existing debt, if no debt exists then they can refuse your cash at their whim.

In reality however, banks will accept both current and non-current notes for quite a while although after a certain point they will only permit them for deposit into your account so that they can whip the money back off you if it turns out to be counterfeit.

zppp

Olipro wrote: »

the bank could refuse to accept the new notes if they wanted to; you're only obliged to accept legal tender if it's for payment of an existing debt, if no debt exists then they can refuse your cash at their whim.

In reality however, banks will accept both current and non-current notes for quite a while although after a certain point they will only permit them for deposit into your account so that they can whip the money back off you if it turns out to be counterfeit.

I think we have already established that banks will accept the notes for a short while. You will see as per my original post, I was referring to retailers not banks.