New £20 and exchanging old for new

Ergates

Rumblerods wrote: »

It's not that silly. Look at Greece and India in recent years. Government can mess things up overnight. Though gold or the likes is a safer store of value

The economic situations in Greece and India did not happen overnight.

Rumblerods

I didn't say they did. But government decisions which meant people could not access their banked cash did. One day people could the next they couldn't :money:

Brodiebobs

Not the amounts talked about on here but we do keep some as DH likes doing up cars so if he see's a bargain online... usually at night or on a weekend.. he can get it without having to worry about getting to a bank.

This started years ago as he lost out on something as we only had two bank accounts and both had a maximum withdrawal amount of £250.

never occurred to me we should swap it for new notes until i saw this, however I wouldn't have an issue putting it through the bank account.

We once sold a item and had £5k in cash, I thought i would be quizzed when i deposited it (I even took the sales receipt with me in case i was asked) but the cashier didn't bat an eyelid.

Ergates

Rumblerods wrote: »

I didn't say they did. But government decisions which meant people could not access their banked cash did. One day people could the next they couldn't :money:

OK - but still, those decisions and actions didn't just come out of nowhere. Keeping a large amount of cash around *now* (in the UK) on the basis that the Govt might just randomly do something that blocks all access to all your banks isn't a rational thing to be doing.

It's on a par with people who keep a years worth of food and drinking water in their house on the basis that there might be civil war or some catastrophic event.