Changing current £20 notes

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  • paragon909
    paragon909 Posts: 1,498 Forumite
    Why not just put the £1000 in the bank.... What is the OP gonna do with £1000 in £50 notes anyway, Maybe come to Scotland and get £100 notes they look even better! Weird way of saving.
  • scoot65
    scoot65 Posts: 470
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    Mojisola wrote: »
    Smaller value notes are much more useful - you can't rely on shops to have change for high value notes - or be willing to give away a lot of change if more customers than usual are using cash.

    We have mostly £5s and £10s plus a bag of coins.

    If you re-read my post you'd see that I was talking about what I do when travelling abroad.
    I have a (small) stash of £50 notes because they don't take up much space and can be easily secreted on my person and two or three £50 will give a fair amount of local currency should it be needed..... when changed at a local money changer.

    I'm not talking about using £50 in shops in the UK.
  • scoot65
    scoot65 Posts: 470
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    eskbanker wrote: »
    How would twenty £50s be more convenient than fifty £20s?!

    When I'm travelling in SE Asia I have a (small) stash of £50 notes because they don't take up much space and can be easily secreted on my person and two or three £50's will give a fair amount of local currency should it be needed..... when changed at a local money changer.
  • eskbanker
    eskbanker Posts: 30,399
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    scoot65 wrote: »
    When I'm travelling in SE Asia I have a (small) stash of £50 notes because they don't take up much space and can be easily secreted on my person and two or three £50's will give a fair amount of local currency should it be needed..... when changed at a local money changer.
    Yes, just to recap, you said:
    scoot65 wrote: »
    £50 notes are useful to take away with you abroad (particularly in developing countries) if you intend to use local money changers........ Also they make a convenient emergency cash stash in case of ATM card problems etc.
    I wasn't challenging your first point about travelling, I was picking up on your second point about the emergency stash.
  • Westie983
    Westie983 Posts: 5,213
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    scoot65 wrote: »
    If you re-read my post you'd see that I was talking about what I do when travelling abroad.
    I have a (small) stash of £50 notes because they don't take up much space and can be easily secreted on my person and two or three £50 will give a fair amount of local currency should it be needed..... when changed at a local money changer.

    I'm not talking about using £50 in shops in the UK.

    To be fair your OP doesn't mention about traveling at all, just that you wish to get £1000 in £50, and wish to know if you have to pay them in or not.

    Many have given you answers, including myself and at least one other poster whom works in a bank. £50 being taken abroad is common as its customers asking for new £50 to be taken to countries like Thailand, but ordering in and processing transactions still follow the same practice of paying in notes and withdrawing out again in the denominations required.

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  • scoot65
    scoot65 Posts: 470
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    Westie983 wrote: »
    To be fair your OP doesn't mention about traveling at all, just that you wish to get £1000 in £50, and wish to know if you have to pay them in or not.

    Many have given you answers, including myself and at least one other poster whom works in a bank. £50 being taken abroad is common as its customers asking for new £50 to be taken to countries like Thailand, but ordering in and processing transactions still follow the same practice of paying in notes and withdrawing out again in the denominations required.

    Westie983

    I'm not the OP (I merely gave an example why someone may want a bundle of £50 notes).
  • eDicky
    eDicky Posts: 6,547
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    As well as the obvious advantages of the £50 note when traveling, for compactness and their often slightly higher value on exchange, I can also understand the preference for a more compact stash of fifties rather than twenties at home, in case of emergency. I certainly wouldn't want to be without one. However these days it's a forlorn hope that any bank will do a straight swap across the counter without putting it through an account.
    Evolution, not revolution
  • nic_c
    nic_c Posts: 2,928
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    Paper bank notes are 0.113mm thick, polymer ones 0.11mm
    50 x £20 = 5.65mm (50x new polymer 5.5mm)
    20 x £50 = 2.26mm


    I don't see 5mm as overly cumbersome, but his bank should be able to exchange - best place to ask is his bank - though I fully expect them to check every single individual note and give a suspicious glance every so often :rotfl:
  • zerog
    zerog Posts: 2,478 Forumite
    Nobody in the UK has a problem with £50s when paying an amount over say £35.

    £20s are often dirty and £50s are more likely to be clean.

    £50s can be exchanged for slightly more than the same amount of £20s in Thailand, Indonesia, Vietnam etc.

    In my experience UK bank staff don't have a problem with swapping around £100 without going through an account, but any more and they will insist. HSBC seems to be the easiest as all their cash is in a till in front of them.
    nic_c wrote: »
    I fully expect them to check every single individual note and give a suspicious glance every so often :rotfl:

    Lloyds, Halifax and TSB just put banknotes through the machine now, so they don't need to bother checking unless the machine rejects some.
  • TheShape
    TheShape Posts: 1,777
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    zerog wrote: »
    Nobody in the UK has a problem with £50s when paying an amount over say £35.

    A lot of retailers won't take a £50 note no matter what the spend.
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