cancel
Showing results for 
Search instead for 
Did you mean: 

Shortage of £5 notes - are you doing your bit?

Community Veteran
Posts: 26,377
Thanks: 632
Fixes: 8
Registered: 10-04-2007

Shortage of £5 notes - are you doing your bit?

Just watched the interview with Andrew Bailey, Chief Cashier at the Bank of England: http://news.bbc.co.uk/1/hi/business/7883393.stm
Apparently there is a shortage of £5 notes in circulation because everybody now gets their money out of ATMs and they don't dispense £5 notes. So whenever we get money from inside the bank/building society we should be asking for it in £5 notes.
jelv (a.k.a Spoon Whittler)
   Why I have left Plusnet (warning: long post!)   
Broadband: Andrews & Arnold Home::1 (FTTC 80/20)
Line rental: Pulse 8 Home Line Rental (£13/month)
Mobile: iD mobile (£4/month)
35 REPLIES
Community Veteran
Posts: 16,836
Thanks: 1,124
Fixes: 13
Registered: 06-11-2007

Re: Shortage of £5 notes - are you doing your bit?

Yet most banks and building society`s have a minimum withdrawal limit on counter transactions, that force you to use the machine outside !.... not everyone wants to withdraw £250  at a go.... or even carry that amount of  "ready cash" on them,,, in fivers or tenners... ! ! !
Community Veteran
Posts: 3,789
Registered: 08-06-2007

Re: Shortage of £5 notes - are you doing your bit?

Moderator
Moderator
Posts: 25,777
Thanks: 1,128
Fixes: 47
Registered: 14-04-2007

Re: Shortage of £5 notes - are you doing your bit?

403 Barry. I suppose it's a case of if your face fits.... Roll eyes Smiley
Customer and Forum Moderator.
Product of the Tyrell Corporation
barky
Grafter
Posts: 166
Registered: 21-01-2009

Re: Shortage of £5 notes - are you doing your bit?

is there a shortage of the 3 kinds of scottish £5 notes as well -- or just the engerlish ones?
Community Veteran
Posts: 3,486
Registered: 02-10-2008

Re: Shortage of £5 notes - are you doing your bit?

I don't know about shortage - but we don't see very many.
I'm going to the Bank of Scotland this afternoon - I will try to get some fivers and report back
{Edit - thinking about it - I think only Royal Bank of Scotland issued fivers in recent years.
But bearing in mind recent events, I wonder if we will have three banks issuing Scottish notes in the future.
Community Veteran
Posts: 26,377
Thanks: 632
Fixes: 8
Registered: 10-04-2007

Re: Shortage of £5 notes - are you doing your bit?

I hadn't realised there was a shortage, but when I think about it there have been a few times recently where shops have apologised for giving me £5 to £9 change in coins because they have no fivers.
jelv (a.k.a Spoon Whittler)
   Why I have left Plusnet (warning: long post!)   
Broadband: Andrews & Arnold Home::1 (FTTC 80/20)
Line rental: Pulse 8 Home Line Rental (£13/month)
Mobile: iD mobile (£4/month)
198kHz
Seasoned Pro
Posts: 3,217
Thanks: 253
Fixes: 7
Registered: 30-07-2008

Re: Shortage of £5 notes - are you doing your bit?

How long before it goes the way of the 10 bob note and becomes a coin?  Sad
For younger readers: that's 50p
Not young enough to know everything
itsme
Grafter
Posts: 5,924
Thanks: 1
Registered: 07-04-2007

Re: Shortage of £5 notes - are you doing your bit?

10 bob notes were withdrawn in 1969 so approximately 60 to 70% of the population will not remember them. The £1 note was the last to be withdrawn in 1988.
198kHz
Seasoned Pro
Posts: 3,217
Thanks: 253
Fixes: 7
Registered: 30-07-2008

Re: Shortage of £5 notes - are you doing your bit?

Hence the footnote. We still see the occasional £1 note in Scotland.
Not young enough to know everything
itsme
Grafter
Posts: 5,924
Thanks: 1
Registered: 07-04-2007

Re: Shortage of £5 notes - are you doing your bit?

Well Scotland is weird as retail banks issue notes and only the Royal Bank of Scotland issue a £1 note, the others do not.
barky
Grafter
Posts: 166
Registered: 21-01-2009

Re: Shortage of £5 notes - are you doing your bit?

and in Scotland no £ sterling paper money is legal tender - no matter what bank issues it
alanf
Aspiring Pro
Posts: 1,931
Thanks: 77
Fixes: 1
Registered: 17-10-2007

Re: Shortage of £5 notes - are you doing your bit?

Another way that notes used to get into circulation was when people collected pensions and benefits over the counter at post offices. Now these are usually paid to bank. I don't understand why £5 notes cannot be distributed via major supermarkets. The self-service check-outs can handle fivers but more often than not issue coins in change. The staffed check-outs also often don't have fivers and if they do they are usually very tatty.
jmd
Grafter
Posts: 2,933
Thanks: 2
Registered: 30-07-2007

Re: Shortage of £5 notes - are you doing your bit?

Interesting.  My local Tesco often gives me 2 x £5 when I ask for £10 cash back, but have problems giving me 2 £10 notes for £20 cash back, so then I get a £20 note.  Perhaos Tesco is hoarding £5 notes?
James
Grafter
Posts: 21,036
Registered: 04-04-2007

Re: Shortage of £5 notes - are you doing your bit?

There are already £5 coins Wink