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Old £5 notes (paper ones)

Fatmarley

Fatmarley

"It appears my intelligence circuits have melted"
Just found two down the back of the sofa. Is there anything I can do with them?
 
Banks will change them in perpetuity.
Best waiting until Covid is over and you don’t need to queue for half an hour!
 
I have an old paper ten pound note. It is over twelve months since I visited my building society, so I guess I can wait another twelve months, supposing I live that long!

Best wishes from George
 
George J said:
I have an old paper ten pound note. It is over twelve months since I visited my building society, so I guess I can wait another twelve months, supposing I live that long!

Best wishes from George
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Only banks are required to accept old notes.
 
Bob McC said:
Banks will change them in perpetuity.
Best waiting until Covid is over and you don’t need to queue for half an hour!
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We have a bank on our corner and there is always a queue outside. I have been scratching my head thinking what these people are going to a bank for. I have been in a bank branch perhaps once in 10 years. Don’t these people have banking apps on their phones? I suppose they must all be changing old paper fivers.
 
I occasionally have to go into a bank branch to pay in cheques - not since covid fortunately and no I don`t have a clever phone with an app to pay in cheques.
 
andrewd said:
We have a bank on our corner and there is always a queue outside. I have been scratching my head thinking what these people are going to a bank for. I have been in a bank branch perhaps once in 10 years. Don’t these people have banking apps on their phones? I suppose they must all be changing old paper fivers.
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I wrote a while ago of my adventures of paying in a cheque sent to me annually by an elderly relative to acknowledge the day i was born.

With a pre-printed paying in book or cheque book my bank refuses to allow me to pay in by post. The local post office also refuses to allow me to pay in without a pre-printed paying in slip. Unlike some banks my bank does not allow paying in through a photo on their banking app. My only option is to drive to the next town (20 mins) pay for parking and go to the branch to pay in.
 
I 'deposited' my first cheque via phone app the other day - very painless process. Especially as it was a cheque that the automatic deposit machines regularly reject and I have to use counter service
 
andrewd said:
We have a bank on our corner and there is always a queue outside. I have been scratching my head thinking what these people are going to a bank for. I have been in a bank branch perhaps once in 10 years. Don’t these people have banking apps on their phones? I suppose they must all be changing old paper fivers.
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Retailers paying in the weekly cash takings and getting bags of change for the tills; people who don't use the internet, don't have smart phones or if they do don't trust app banking; people with cheques; people who want a service that requires personal attendance.

Otherwise, I have no idea.
 
When we lived in Norway cash was unheard of. Even small payments to mates at a poker game were made on your phone. The sooner cash gets shut down in UK the better. It is just so inefficient, old fashioned and encourages tax avoidance. At least the pandemic has resulted in some progress with more businesses accepting contactless payment.
 
I found some old notes after my father died a few years back. The only bank that would take them was the TSB but they had to be paid into an account.
 
andrewd said:
When we lived in Norway cash was unheard of. Even small payments to mates at a poker game were made on your phone. The sooner cash gets shut down in UK the better. It is just so inefficient, old fashioned and encourages tax avoidance. At least the pandemic has resulted in some progress with more businesses accepting contactless payment.
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How is it inefficient, and how does it encourage tax avoidance? On the former, the processing fees, infrastructure and societal access costs are dramatically lower for cash than they are cashless; on the latter, this, together with the notion of funding crime and terrorism, have been thoroughly debunked.
Further, Norway recently finished launching its latest family of notes, designed and printed at not insubstantial cost. The notes are regularly used throughout the country.

Agree wholeheartedly that cashless is hugely convenient, but cash has it beat in terms of privacy, universality, and financial inclusion.
 
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