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Got any old £50 notes under the Mattress ?

Infinity
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Got any old £50 notes under the Mattress ?

Old £50 notes cease to be legal tender from tomorrow - and there are £2.6BN still in circulation...
From midnight tomorrow, the only £50 note that will hold legal tender status will be that which celebrates the 18th century partnership of entrepreneur Matthew Boulton and engineer James Watt, who helped forge the Industrial Revolution.
Anyone holding the old notes has been advised by the Bank of England to spend, deposit or exchange them before midnight tomorrow.
However, don't panic...
People can, at any time, obtain the face value of a note that has been withdrawn by exchanging it at the Bank of England in London.
There is no fee for the service and banknotes of this type can be exchanged by post or in person
Hmmm. should I use Recorded Delivery ?

http://www.dailymail.co.uk/money/news/article-2616022/Old-50-notes-cease-legal-tender-Wednesday.html...
http://www.bankofengland.co.uk/banknotes/Pages/about/withdrawn_notes.aspx
http://www.bankofengland.co.uk/banknotes/pages/current/default.aspx
10 REPLIES
TORPC
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Re: Got any old £50 notes under the Mattress ?

I wonder how much the £2.6BN will still by in circulation by this time next year
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Re: Got any old £50 notes under the Mattress ?

I paid mine into my TSB account last week.
The girl behind the counter said if I find any more after this month I would need to take them to the Post Office. Undecided
Find any more?......I wish Sad
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Re: Got any old £50 notes under the Mattress ?

I haven't even seen a £50 for years now  Cry
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Re: Got any old £50 notes under the Mattress ?

The main reason I had mine was because I couldn't find a retail outlet that would accept them........sorry we don't accept anything higher than a £20....company policy Roll eyes
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Re: Got any old £50 notes under the Mattress ?

Quote from: Strat
The girl behind the counter said if I find any more after this month I would need to take them to the Post Office. Undecided

Not what the BoE website says, seems some banks have agreed to change them after this date too:
Quote
Barclays, NatWest, RBS, Ulster Bank and the Post Office have all agreed to exchange Houblon £50 notes for members of the public - up to the value of £200 - until 30 October 2014.
TORPC
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Re: Got any old £50 notes under the Mattress ?

Quote from: Strat
The main reason I had mine was because I couldn't find a retail outlet that would accept them........sorry we don't accept anything higher than a £20....company policy Roll eyes

They can not legaly refuse the queens head unless it is a Faux note
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Re: Got any old £50 notes under the Mattress ?

Yeah, but they'll get round that by saying they don't have the facilities in order to check whether the note is genuine or not.
TORPC
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Re: Got any old £50 notes under the Mattress ?

My reply
How would you check £20 note(s) or lower denomination(s) ?Huh
Is each different note a different test ?Huh
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Re: Got any old £50 notes under the Mattress ?

Quote from: Strat
The main reason I had mine was because I couldn't find a retail outlet that would accept them........sorry we don't accept anything higher than a £20....company policy Roll eyes

I used to ask for £50s if withdrawing enough because it made it look like I was rich Cheesy
But now I refuse to accept them for the very reason stated by Strat.
@TORPC as far as I'm aware bank notes do not have to be accepted as payment and there is no legal obligation to give change. There's some info here

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Re: Got any old £50 notes under the Mattress ?

Interestingly the old £20 ceased being legal tender a few years ago and you were supposed to have to take it to London to get it exchanged, but I found about £200 worth in an old money tin when clearing out some band stuff and my local Barclays happily accepted them a few months ago!