Old Paper £20 Notes

NedS

msallen said:

I previously explained the reasoning behind why most banks require you to pay in to an account and then withdraw again in this post:

https://forums.moneysavingexpert.com/discussion/comment/78612809#Comment_78612809

It is generally not at the discretion of the teller or anything to do with AML.

Not in my bank - they open a drawer with cash in it, and take out the cash you want, or put in the cash you deposit. Real old school. But they still won't exchange a £20 for 2 x £10 unless you pay in the £20 and withdraw £20 (2 x £10) from your account.

Marcon

msallen said:

I previously explained the reasoning behind why most banks require you to pay in to an account and then withdraw again in this post:

https://forums.moneysavingexpert.com/discussion/comment/78612809#Comment_78612809

It is generally not at the discretion of the teller or anything to do with AML.

Santander will only do it for their own customers - you have to pay in the notes to your account (either at the counter or at one of their machines) and then go through a withdrawal to get new notes. When I asked why, they confirmed it was to avoid customers of other banks using them as a 'free' cash exchange service.

Blackavar

Had a bit of a clear out and found a box of 'emergency money' I put aside many years ago - only £300 but I guess worth a bit more back then. I took these old paper notes to a couple of local banks and no interest without an account. So I went a few more miles to my bank and no problem - exchanged, and into my account. Had a bit of a chat about this and the wording 'Promise to pay the bearer ...etc' makes the notes actual currency forever unless the wording is revoked.

pokora

Old 20 and 50£ notes still legal tender, they shouldn't refuse to take it.

GaleSF63

IanManc said:

pokora said:

Old 20 and 50£ notes still legal tender, they shouldn't refuse to take it.

Yes, the paper £20 and £50 notes are still legal tender until 30 September 2022, as Adyinvestment has already said:

One year left to spend your paper £20 and £50 banknotes | Bank of England

£15 billion worth of paper £50 notes still in circulation, and I've never seen one!
(I have seen a £100 note though.)

isayhello

I've found a few old £10 notes recently, can I still take these into a bank or will they refuse?

lozzy1965

isayhello said:

I've found a few old £10 notes recently, can I still take these into a bank or will they refuse?

There's one way to find out

pokora

isayhello said:

I've found a few old £10 notes recently, can I still take these into a bank or will they refuse?

Go to one you have an account with.

isayhello

Thanks, I'd read that I would have to send them to BoE to get new £10 notes but I wasn't sure if some high street banks would still accept.

pokora

isayhello said:

Thanks, I'd read that I would have to send them to BoE to get new £10 notes but I wasn't sure if some high street banks would still accept.

Depends of the branch, if they accept them only to deposit in your account. I don't know about notes, recently I banked old 1 pound coins I found at home at my Halifax branch.