New £20 and exchanging old for new

Peter999_2

I keep £200 in cash in a fake book in my house (it's not to deter burglars as I know they'd find it straight away) just in cash I need to pay for something.


I get a meal deal from Tesco nearly every day so have been using the £20 notes and getting a £10, £5 and £2 in pound coins back everyday. Shouldn't take too long to get rid of them all, and when you use the automated machines you don't get any odd looks/questions etc.

Londonlisa12

Just pay every transaction with a £20 be it a pint,coffee or a newspaper,should not take long to get rid of them.Or just wait until February and deposit them and take them back out,you will have at least 3 months to do it after the new ones come into circulation.

caveman38

Some people keep secret cash as "run away money".

fenwick458

born_again wrote: »

Start spending them now.... :rotfl:

Pay them into the bank now. Why would anyone have large amounts of cash sat at home. Even rubbish interest rates are better than mattress rates.

hahaha

are you really that naive?

zerog

The Bank of England changes each denomination of note approximately every 10 years.

If you want to keep savings for a period of more than 15 years it doesn't make sense to do it in sterling cash, especially if you need to ask "how do I exchange it to new notes without questions being asked"?

Santanduh

If you want to change money without it appearing in the system as yours you're going to need to be a little more creative. Especially for large amounts. Bank will want you to deposit it in to your account then give you cash. if that's what you want

born_again

Santanduh wrote: »

Bank will want you to deposit it in to your account then give you cash. if that's what you want

With many questions asked.:rotfl:

greatgimpo

You have maybe 9 months from now. Take say £100 a week out of your bank/building society in tenners and put it away in place of £100 in twenties - you'll have to go to a desk and ask for tenners and not go to the ATM. Pay for petrol/shopping in cash in twenties. 9 months is close to £4,000. Any good?

(Am I the only person here that wonders if the OP does a lot of 'cash transactions?')

born_again

greatgimpo wrote: »

You have maybe 9 months from now. Take say £100 a week out of your bank/building society in tenners and put it away in place of £100 in twenties - you'll have to go to a desk and ask for tenners and not go to the ATM. Pay for petrol/shopping in cash in twenties. 9 months is close to £4,000. Any good?

(Am I the only person here that wonders if the OP does a lot of 'cash transactions?')

OP sounded like they have a lot of £20 sat at home.

But even if they had, as you say plenty of time to get it sorted.

NedS

How about paying your credit card bill every month in cash over the counter? If it's anything like my CC bill each month, that would get rid of a lot of £20's in 6-9 months!