Cashing older decimal money experience

damnjet

I recenty went into the halifax to deposit some old notes and coins.

The notes were of the current sized issue but had been withdrawn for sometime particulary the £10 notes.

The cashier looked at me as though i was trying to deposit forgerys as she tore the metal strip area on the notes.

I also had £2.60 worth of all original decimal day type silver coins, 5p's10p's,and 50p's ( The larger type) that they would not accept and they recommended i try a proper bank like Barclays.

According to the bank of England website banks are not duty bound to accept out of issue currency though may at there discretion. Im not going up London either to exchange £2.60


Shortly before all this i filled the car up forgetting i had some old issue £20's on me and the staff would not accept them either. Made me wonder what would have happened had i not had some current ones on me.

Would they have got the siphon out?. lol

alanq

damnjet wrote: »

Im not going up London either to exchange £2.60

It would be a wasted journey of you did.
"Please be aware that we do not offer an exchange service for coin; "
http://www.bankofengland.co.uk/banknotes/pages/about/exchanges.aspx

Perhaps there is a charity locally that can make use of your £2.60. e.g.

"We accept coins and notes of any currency which are no longer legal tender, including foreign and British currencies."
http://www.cotswoldvolunteers.com/donate-now/

"Old European currency, including old British money, which is no longer valid"
http://uat33test.ageuk.org.uk/get-involved/recycle/foreign-currency/

damnjet

any decimal currency bearing the queens head should be good to use until withdrawn by the banks with no time restrictions.

And it should be mandatory as part of a banks license to accept all decimal currency of the realm.

opinions4u

damnjet wrote: »

any decimal currency bearing the queens head should be good to use until withdrawn by the banks with no time restrictions.

But is it?

And it should be mandatory as part of a banks license to accept all decimal currency of the realm.

But is it?

damnjet

nope because its all part of rip of britain, theres still millions of pounds worth of coins knocking around out there.

innovate

damnjet wrote: »

nope because its all part of rip of britain, theres still millions of pounds worth of coins knocking around out there.

I feared for a minute this week would have to go without a rip-off thread.

JuicyJesus

innovate wrote: »

I feared for a minute this week would have to go without a rip-off thread.

When was the last scam?

opinions4u

JuicyJesus has signature line removed? Cool!

JuicyJesus

opinions4u wrote: »

JuicyJesus has signature line removed? Cool!

Your words of wisdom re: scams are apparently just too incendiary for MSE to tolerate.

I'd be interested to know what rules it broke.

thenudeone

Old coins can go sometimes sell ebay for more than their face value. Not sure of the legalities, though.

Although any particular coin may be legal tender (i.e. the coin cannot be rejected in settlement of a debt) no bank or any other person or company is under any obligation to accept legal tender.

http://www.royalmint.com/aboutus/policies-and-guidelines/legal-tender-guidelines

For example many banks won't accept coins except in proper bagged multiples, even though they are clearly legal tender in smaller amounts

lollipopsarah

Well coins I wouldn't bother with but I got lumbered with an old £10 a while back from work ( I took it by mistake and had to buy it back as they told me it had to be paid in to a bank account).
By chance I was in Barclays the other day and mentioned it and the lady said no problem, so I went back the next day and they changed it - woohoo.
xx