What's in your wallet/purse?

never-in-doubt

Deleted_User wrote: »

Nice £50 note

I am sure I had one of those back in the 90's - LOL (remember we're in a recession) :rotfl::rotfl:

Inactive

never-in-doubt wrote: »

I am sure I had one of those back in the 90's - LOL (remember we're in a recession) :rotfl::rotfl:

I had to Google it find out what it was... :rotfl::D

sillystudent_2

I am sure I had one of those back in the 90's - LOL (remember we're in a recession) :rotfl::rotfl:

Lol, interestingly I read recently that the circulation of £50s is actually up in the recession, as individuals have lost faith in banks to the extent that a significant minority are apparently withdrawing their savings and storing them in their house/under the bed, and are therefore using fifties as the medium for such large sums of money. Lets hope there's not a fire :rolleyes:

Edit: Found the link http://news.bbc.co.uk/1/hi/business/7703642.stm

Stompa

sillystudent wrote: »

Lol, interestingly I read recently that the circulation of £50s is actually up in the recession

Yes, but where do you get £50 notes from? Cash machines don't issue them do they? (or maybe some do?)
I don't think I've ever had a £50 note - and given that the amount of cash I now use is miniscule I guess I probably never will!

[Deleted User]

The only time I've ever had £50 notes was when I sold a mobile phone on eBay about 5 year ago for £150. The buyer sent me 3 x £50 notes in the post by recorded delivery! :eek:

They went straight into the bank though

sillystudent_2

Yes, but where do you get £50 notes from? Cash machines don't issue them do they? (or maybe some do?)

Nope - cash machines don't give them out at all, at least as far as I know. The 2 places where they crop up the most are at banks (for large sums of cash over the counter) and casinos. Probably much more casinos than banks, as I imagine banks just order £50s in advance for big withdrawals, as it wouldn't be practical to keep loads of them in branch (as opposed to casinos where ppl are putting tons in at any one time + they've presumably got to have enough if loads of casino-goers suddenly win big at once.) When I got out £800 a year ago from Barclays to pay my ex-gf who'd booked mine and her's flights/hotels around America last year, a lot of it was in £50s. Although a lot of customers I imagine would probably still want £20s even if they were withdrawing thousands.

I visited a casino a few months back (just a onetime visit, got enough student debt without becoming a gambler ) and one of my friends won £400 on roulette and got paid in all crisp £50 notes + nearly everyone I saw who went to the payout booth got £50s. I suppose its because the people who do win at casinos (not many I expect lol!) probably win hundreds if not thousands (saw someone walk out with £2500 in £50s :eek:) and they'll hardly want a cheque from the casino!

Extant

Stompa wrote: »

Yes, but where do you get £50 notes from? Cash machines don't issue them do they? (or maybe some do?)
I don't think I've ever had a £50 note - and given that the amount of cash I now use is miniscule I guess I probably never will!

I've never heard of a cash machine that issues £50 notes, although most current generations are set-up so they can be adapted to issue them - the thought is, I guess, that they will eventually be in circulation a lot more. Possibly next series.

Most Barclays branches don't tend to hold them, and will remit them back to their cash centres weekly; customers wanting them usually have to hope the branch has them in stock, or ask for them to be ordered.

never-in-doubt

Inactive wrote: »

I had to Google it find out what it was... :rotfl::D

Haha - I used to keep one in my wallet as a back up night out or whatever but then lost wallet and lost the £50 as well. What was funny was when the wallet was returned and everything was there (this is the days before computers and fraud!) - minus my £50 note! So the cheeky beggar found me wallet, spent me dosh and thought the cards are no use so handed it in to the cops.

Huh! Bet the cheeky beggar still has it now, hidden in his wallet :rotfl::rotfl::rotfl:

glider3560

I have a university friend who comes from South America. He always come back from there with a wad of £50 notes. Apparently, the bureau de change he uses over there gives a much better rate of exchange if you have £50 notes instead of smaller ones. But he always has trouble getting shops to accept the notes.

sillystudent_2

I have a university friend who comes from South America. He always come back from there with a wad of £50 notes. Apparently, the bureau de change he uses over there gives a much better rate of exchange if you have £50 notes instead of smaller ones. But he always has trouble getting shops to accept the notes.

That's the thing - you always worry 'will this place take it.' Although in my experience I've never had this problem - I've spent probably a dozen £50s in the last few years in various places - HMV, Boots, Burton, the local Shell garage, an Oceana nightclub. They always check them first, but I've never had them declined - though I expect small off-licences and family-run businesses probably wouldn't accept them (in fact many have signs saying they won't.) Also, when I worked in Sainsbury's at the checkout a couple of summers ago they had a policy of always accepting £50s, but you had to buzz the supervisor to check it first. I expect most big chains have similar policies in place.

I even used one to pay for an £8 taxi ride after a night out once at 3am - in my less-than-sober state I said to the guy when he took the note without a second glance "aren't you going to check that to see if its a forgery?" He just said that £50s were barely worth checking, as nobody would bother faking them since they're always scrutinised and that, if anything, £20s were the most likely to be faked. A fair point I suppose - I can safely say that I've never checked a twenty-pound note's authenticity in my entire life!