Old bank notes

Robert7578

A relative died and i have £5000 in old paper bank notes in bank bundles dated 2011 , my local bank branch has closed down and they say I can only pay in £250 in old notes per visit, this would mean 20 bus trips to the next city and cost me £120 just to pay it in.

is my only option to pay it into my account via the local post office which I pass once a week over 20 weeks ?

NorfolkCanary

No, from memory you can send via post (at your own risk) to the Bank of England or even visit them if close to London

Edit: take a read of Exchange old bank notes - BoE

lr1277

This may or may not be helpful. Each post office branch has their own limit on how much cash they can take. I paid in £500 in at a small town centre branch (small town which leads to a smallish branch).

I suspect but don't know there might be large town centre branches which have a higher limit.

If you can find such a branch, it might mean fewer trips?

Edited to add: After reading @NorfolkCanary's linked web page, I didn't know about the £300 limit. When I paid in my £500, as far as I know they were all current notes. In fact I didn't even pay in at the PO counter but at the retail counter which does some PO related things like signed for letters and obviously accepting cash deposits for bank accounts.

GrubbyGirl_2

I thought that you can only exchange old paper notes at the Bank of England now as the window for exchanging at local banks has closed. I could be wrong but the BofE is probably your only option to do it in one go. For £5k I would gladly have a day out in London, but just make sure you take all of the documents you need (ID source of money etc) so there won't be any problems when you get there.

daveyjp

https://forums.moneysavingexpert.com/discussion/comment/82040348#Comment_82040348

I recently found some old paper notes in some documents I was sorting through. Not as much money as the OP, but local Santander branch dealt with me paying them in as a credit to my account.

Keep_pedalling

Are you the executor of the estate or have you been given this as part of your inheritance?

QrizB

OP seems to have recurring problems with bundles of cash. See their thread from last month:

https://forums.moneysavingexpert.com/discussion/6669067/my-bank-doesnt-want-my-money

In that thread they said they were allowed to pay in £2500 at a time.

wmb194

https://forums.moneysavingexpert.com/discussion/6673138/old-bank-notes

Which bank? £250 sounds absurdly low. Do you have accounts with other banks? Worst case you could deposit a little at each.

flaneurs_lobster

https://forums.moneysavingexpert.com/discussion/comment/82040530#Comment_82040530

Them was proper current notes, the current stash is of paper currency which has differing limits at bank branches.

MyRealNameToo

https://forums.moneysavingexpert.com/discussion/comment/82040348#Comment_82040348

In the prior period banks were obligated to still accept old notes, now they arent. If a bank wants to provide the service they are of cause free to do so in the same way you could pay for your shopping in walnuts rather than GBP if the shop is willing to accept the trade.

sheenas

https://forums.moneysavingexpert.com/discussion/comment/82040348#Comment_82040348

That last one could be difficult. I am not sure what paper work you would need. I would guess the will and may proof you are the executor.