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Is a £50 note legal tender?

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Is a £50 note legal tender?

Last night I offered a fifty pound note in payment for some drinks and it was refused (company policy).
So if I offered a dodgy £20 note instead it would be looked on in a more favourable light Undecided
For what reason would it be refused Crazy
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Re: Is a £50 note legal tender?

This has been discussed here before – the offshoot was that the term ‘legal tender’ has a very narrow legal definition that isn't to do with the general notion of whether something is acceptable as payment or not.
[me=Be3G]Googles[/me]
Here we are, straight from the Royal Mint themselves: http://www.royalmint.com/corporate/policies/legal_tender_guidelines.aspx
itsme
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Re: Is a £50 note legal tender?

this is the important bit.
Quote
Both parties are free to agree to accept any form of payment whether legal tender or otherwise according to their wishes.

It's not unusual for £50 notes to be rejected. Hence the reason that when I was given one by the on-course bookie last year I got rid of it straight away by paying the restaurant/bar bill with it.  Smiley
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Re: Is a £50 note legal tender?

I would think that so few people have them as "small change" in their wallet, that they would not even recognise it...... let alone be able to tell a genuine one from one you have just printed yourself.....!  Cheesy
itsme
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Re: Is a £50 note legal tender?

Have to agree, this was another reason that I wanted to get rid of the one I had as quickly as possible. Can't remember ever having one before so it could have been monoply money.  Grin
scootie
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Re: Is a £50 note legal tender?



think this usa legal tender vid has bein posted on here before. it still stuck in my head since i saw it a year ago thoe.
you should of done the same and got it changed into pennys
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Re: Is a £50 note legal tender?

I did think of taking it to my bank and putting it into my account but they'd probably refuse it as well Crazy
Still wonder at the reason for the refusal though Undecided
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Re: Is a £50 note legal tender?

@Strat, how did you get a £50 note in the first place?
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Re: Is a £50 note legal tender?

Not from work as you can imagine. Roll eyes
I paid for something for someone on my card and they paid me back in cash, part of which was the £50 note......a source of great amusement and taking of the piss at work as you also will guess. Angry
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Re: Is a £50 note legal tender?

Quote from: Strat
Not from work as you can imagine. Roll eyes
Quite.
Quote from: Strat
a source of great amusement and taking of the [Censored] at work as you also will guess. Angry
Yes I can imagine!
itbookworm
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Re: Is a £50 note legal tender?

I'm the same as everyone else - I probably wouldn't know a fake £50 note from a real one. I do know why some places won't accept them though.
If you use a fake £20 to pay a £2 bill and they give you £18 'real' money as change they are down £20 assuming the bank notices when they pay in the fake. If you use a fake £50 to pay the same bill they lose £50. If they refuse to take £50 notes the most they can lose at any one time is £20. That doesn't help if you pay with multiple fake £20's but you get the idea.  Smiley
Addnan
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Re: Is a £50 note legal tender?

Quote from: Asbo


think this usa legal tender vid has bein posted on here before. it still stuck in my head since i saw it a year ago thoe.
you should of done the same and got it changed into pennys

Is this for real lol. You can pay as much as you want with pennies in the USA?
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Re: Is a £50 note legal tender?

Businesses have devices for checking bank notes.
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pierre_pierre
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Re: Is a £50 note legal tender?

Itsme quote was not complete
Quote
Both parties are free to agree to accept any form of payment whether legal tender or otherwise according to their wishes. In order to comply with the very strict rules governing an actual legal tender it is necessary, for example, actually to offer the exact amount due because no change can be demanded.

My bank doesnt care how many coins you bring in, it has a chute you pour them in and then it counts them, no commission unlike Supermarket ones
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Re: Is a £50 note legal tender?

Any coins I have "left over", go in my personal RNLI savings box....... I never have enough to take them to the bank...... Cry

though one day I may empty the RNLI box and have to take them to the bank!..!  !  Smiley