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    • Rapporman
    • By Rapporman 9th Aug 18, 10:03 AM
    • 3Posts
    • 0Thanks
    Rapporman
    Changing current 20 notes
    • #1
    • 9th Aug 18, 10:03 AM
    Changing current 20 notes 9th Aug 18 at 10:03 AM
    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. I have been a customer of the bank for 25 years and am retired.
Page 2
    • missile
    • By missile 9th Aug 18, 8:04 PM
    • 9,624 Posts
    • 4,799 Thanks
    missile
    The 50 note. The tax-evader's note of choice.
    Originally posted by TheShape
    50s were my choice. He would have been happy with any denomination.
    "A nation's greatness is measured by how it treats its weakest members." ~ Mahatma Gandhi
    Ride hard or stay home
    • Flobberchops
    • By Flobberchops 10th Aug 18, 4:25 PM
    • 792 Posts
    • 590 Thanks
    Flobberchops
    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.
    Originally posted by Rapporman
    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.

    I have been a customer of the bank for 25 years and am retired.
    Originally posted by Rapporman
    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?
    Last edited by Flobberchops; 10-08-2018 at 4:29 PM.
    I work for a UK bank, but any comments made on this forum are solely my personal opinion. Caveat Emptor!
    • paragon909
    • By paragon909 10th Aug 18, 5:17 PM
    • 1,367 Posts
    • 1,379 Thanks
    paragon909
    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
    • By scoot65 10th Aug 18, 6:07 PM
    • 181 Posts
    • 78 Thanks
    scoot65
    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.
    Originally posted by Mojisola
    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
    • By scoot65 10th Aug 18, 6:12 PM
    • 181 Posts
    • 78 Thanks
    scoot65
    How would twenty 50s be more convenient than fifty 20s?!
    Originally posted by eskbanker
    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
    • By eskbanker 10th Aug 18, 6:21 PM
    • 7,866 Posts
    • 8,704 Thanks
    eskbanker
    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.
    Originally posted by scoot65
    Yes, just to recap, you said:
    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.
    Originally posted by scoot65
    I wasn't challenging your first point about travelling, I was picking up on your second point about the emergency stash.
    • Westie983
    • By Westie983 11th Aug 18, 3:29 PM
    • 4,514 Posts
    • 15,048 Thanks
    Westie983
    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.
    Originally posted by scoot65
    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
    Save 12k in 2018 #10 Total (25,000)+13,000/12,000 = 108.33%
    Sealed Pot Challenge ~ 11 #97 Total (410) + 40/500 = 8.00% ( x 11)
    Xmas 2018 1 a Day #2 Total 62.59/365 = 17.14%
    Virtual Sealed Pot #1 Total 1200/1000 = 120.00%
    2 Savers Club 2018 #16 Total (1500)+-470/2000 = 51.50%

    Total 15,332.59/15,865 = 96.64%

    I'm a Board Guide on Budgeting & Bank Accounts, Debt-Free Wannabe, Disability Money Matters, and Savings & Investments. I'm a volunteer helping the boards run smoothly, but I'm not a moderator, and do not read all posts. If you see an inappropriate/illegal post then email forumteam@moneysavingexpert.com
    • scoot65
    • By scoot65 11th Aug 18, 6:38 PM
    • 181 Posts
    • 78 Thanks
    scoot65
    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
    Originally posted by Westie983
    I'm not the OP (I merely gave an example why someone may want a bundle of 50 notes).
    • eDicky
    • By eDicky 12th Aug 18, 5:39 AM
    • 3,701 Posts
    • 1,854 Thanks
    eDicky
    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.
    • nic_c
    • By nic_c 12th Aug 18, 8:20 AM
    • 1,623 Posts
    • 880 Thanks
    nic_c
    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
    • zerog
    • By zerog 12th Aug 18, 7:07 PM
    • 2,377 Posts
    • 825 Thanks
    zerog
    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.

    I fully expect them to check every single individual note and give a suspicious glance every so often
    Originally posted by nic_c
    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
    • By TheShape 12th Aug 18, 7:58 PM
    • 1,378 Posts
    • 1,241 Thanks
    TheShape
    Nobody in the UK has a problem with 50s when paying an amount over say 35.
    Originally posted by zerog
    A lot of retailers won't take a 50 note no matter what the spend.
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