Changing current £20 notes

2

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  • scoot65
    scoot65 Posts: 470 Forumite
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    Robin9 wrote: »
    What on earth do you want £50 notes for ? They can be difficult to spend as many shops don't see them very often and treat them with suspicion.

    £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 always have some notes with me when I travel to SE Asia.
  • jonesMUFCforever
    jonesMUFCforever Posts: 28,898 Forumite
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    IMO most banks won't exchange notes to that value without the money being credited to the account first then withdrawn.
    A trail is then established.
  • Robin9
    Robin9 Posts: 12,097 Forumite
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    I've only ever seen 4 £50 notes.
    Never pay on an estimated bill
  • eskbanker
    eskbanker Posts: 30,979 Forumite
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    scoot65 wrote: »
    Also they make a convenient emergency cash stash in case of ATM card problems etc.
    How would twenty £50s be more convenient than fifty £20s?!
  • missile
    missile Posts: 11,684 Forumite
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    Can't understand why you would want to, but it should not be a problem. I withdrew 1200 in 50 notes from my account when my builder wanted payment in cash.
    "A nation's greatness is measured by how it treats its weakest members." ~ Mahatma Gandhi
    Ride hard or stay home :iloveyou:
  • TheShape
    TheShape Posts: 1,779 Forumite
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    missile wrote: »
    Can't understand why you would want to, but it should not be a problem. I withdrew 1200 in 50 notes from my account when my builder wanted payment in cash.

    The £50 note. The tax-evader's note of choice.
  • Merlin139
    Merlin139 Posts: 6,856 Forumite
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    £50 notes are very popular at Racecourses.
    3.795 kWp Solar PV System. Capital of the Wolds

  • Mojisola
    Mojisola Posts: 35,557 Forumite
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    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.

    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.
  • missile
    missile Posts: 11,684 Forumite
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    TheShape wrote: »
    The £50 note. The tax-evader's note of choice.
    50s were my choice. He would have been happy with any denomination. :A
    "A nation's greatness is measured by how it treats its weakest members." ~ Mahatma Gandhi
    Ride hard or stay home :iloveyou:
  • Flobberchops
    Flobberchops Posts: 1,279 Forumite
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    edited 10 August 2018 at 4:29PM
    Rapporman wrote: »
    I have saved £1000 in £20 notes and wish to convert them to £50 notes. Is my bank obliged to do this as a straight swap or must I pay the £20 notes into my account and then withdraw in £50 's.

    The latter. Banks usually require a clear audit of all money that passes through their hands. If you were breaking up a tenner for parking meter change they may make an exception, but for £1000 it's unlikely.
    Rapporman wrote: »
    I have been a customer of the bank for 25 years and am retired.

    You may as well add that your middle name is James and you have a ginger moustache. I.e., it's completely irrelevant. Why do you feel bank policy shoudln't apply to you? If you've been a customer for 25 years you should be accustomed to the rules by now! Perhaps more to the point, what reasonable objection could you have to the transaction appearing on your statement?
    : )
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