Changing current £20 notes

scoot65

Robin9 wrote: »

What on earth do you want £50 notes for ? They can be difficult to spend as many shops don't see them very often and treat them with suspicion.

£50 notes are useful to take away with you abroad (particularly in developing countries) if you intend to use local money changers........ Also they make a convenient emergency cash stash in case of ATM card problems etc.

I always have some notes with me when I travel to SE Asia.

jonesMUFCforever

IMO most banks won't exchange notes to that value without the money being credited to the account first then withdrawn.
A trail is then established.

Robin9

I've only ever seen 4 £50 notes.

eskbanker

scoot65 wrote: »

Also they make a convenient emergency cash stash in case of ATM card problems etc.

How would twenty £50s be more convenient than fifty £20s?!

missile

Can't understand why you would want to, but it should not be a problem. I withdrew 1200 in 50 notes from my account when my builder wanted payment in cash.

TheShape

missile wrote: »

Can't understand why you would want to, but it should not be a problem. I withdrew 1200 in 50 notes from my account when my builder wanted payment in cash.

The £50 note. The tax-evader's note of choice.

Merlin139

£50 notes are very popular at Racecourses.

Mojisola

scoot65 wrote: »

£50 notes are useful to take away with you abroad (particularly in developing countries) if you intend to use local money changers........ Also they make a convenient emergency cash stash in case of ATM card problems etc.

Smaller value notes are much more useful - you can't rely on shops to have change for high value notes - or be willing to give away a lot of change if more customers than usual are using cash.

We have mostly £5s and £10s plus a bag of coins.

missile

TheShape wrote: »

The £50 note. The tax-evader's note of choice.

50s were my choice. He would have been happy with any denomination. :A

Flobberchops

Rapporman wrote: »

I have saved £1000 in £20 notes and wish to convert them to £50 notes. Is my bank obliged to do this as a straight swap or must I pay the £20 notes into my account and then withdraw in £50 's.

The latter. Banks usually require a clear audit of all money that passes through their hands. If you were breaking up a tenner for parking meter change they may make an exception, but for £1000 it's unlikely.

Rapporman wrote: »

I have been a customer of the bank for 25 years and am retired.

You may as well add that your middle name is James and you have a ginger moustache. I.e., it's completely irrelevant. Why do you feel bank policy shoudln't apply to you? If you've been a customer for 25 years you should be accustomed to the rules by now! Perhaps more to the point, what reasonable objection could you have to the transaction appearing on your statement?