Luckily though banks will still accept these coins so you are not out of luck if you happen to own one of over an estimated 100 million old pound coins still out there. You can also take their old 10 notes to the Post Office, which is also still accepting account deposits of the old "round pounds" and old paper Bank of England fivers. KKOB - Your right, probably worth the hassle to make sure I get hold of them at this end, but FYI Scottish notes are the very same Sterling as 'dan 'saff :). Would you like to give more detail? You can exchange them at your local Post Office, bank, or with the Bank of England itself for face value. *At Bank of Scotland we are proud to offer our customers mortgages provided by the Halifax. Youll also need to fill in a postal exchange form and send photocopies of your proof of ID and proof of address. We don't as a general policy investigate the solvency of companies mentioned (how likely they are to go bust), but there is a risk any company can struggle and it's rarely made public until it's too late (see the. or Coinciding with what would have been his birthday, the Bank of England today has released its newly-designed 50 bank note, featuring mathematician and computer scientist, Alan Turing. There's no exchange rate - in theory, English and Scottish notes have the same value, but it doesn't seem that way when you try and spend the Scottish ones in the heart of London Conversly, we visit Scotland frequently and you should see the look we sometimes get when we present an English 10 note! The Halifax Bank of Scotland is a commercial bank. Ian Payne is Leading Britain's Conversation. Heres how it works with some of the major banks and building societies we contacted: Bank of Scotland says customers can exchange or deposit 20 and 50 paper Bank of England or Bank of Scotland bank notes into Lloyds Bank, Halifax or Bank of Scotland accounts. In some cases you will be able to exchange the paper notes for the new polymer notes even if you do not have an account with that particular bank, for example with Bank of Scotland and Virgin Money. In fact, the only advice given by the Royal Mint themselves on the topic is to try your luck with a high street bank. Can Bank of Scotland use Halifax? 0. Alternatively, you can email us at whistleblowing@bankofengland.co.uk or write to: IAWB Team, Legal Directorate, Bank of England, Threadneedle Street, London EC2R 8AH. These often have notices saying whether they accept old coins and notes and are an easy way to get rid of any small quantities you have lying around. Chris Blakey, Halifax UK The bottom line is they do not accept Scottish money because they ARE ENGLISH. But can you still exchange them, will banks - or anyone else - accept them and what should you do with any you find? Bath 18 December 2016 at 1:58PM. The polymer 5 note, meanwhile, was issued in September 2016 and features Sir Winston Churchill. England and Wales company registration number 2008885. Keep in mind that it may not be in your best interest to send large amounts of money via post. Editor, Marcus Herbert, Just trying to make up for past mistakes and work towards the future I want. There are three types of banknotes in the UK: Scottish banknotes. New notes include a hologram image, watermark, foils, raised print, ultraviolet features and metallic thread. Report inappropriate content . But banks don't legally have to keep accepting old money, so it's worth checking with yours before you head to a branch. View our online Press Pack. That phrase "I promise to pay the bearer on demand" is something that doesn't have a time limit on it, the Bank told Mirror Money. Coins such as the Bank of England 2, an old-style 2 coin that was removed from circulation in 1997, are worth almost 6 to collectors. If you are a resident of another country or region, please select the appropriate version of Tripadvisor for your country or region in the drop-down menu. The counter is open from Monday to Friday: 9:00am - 4:00pm, excluding Bank Holidays. LBC News Many charities specifically mention that they accept old currency and are more than grateful to receive any donations. We also understand that the Post Office accepts withdrawn notes as payment for goods and services. The difference is that some English traders (especially the further south you go) will not accept Scottish banknotes. The Bank of England's head office in London's note exchange desk lets anyone with an out of date note swap it for a current one meaning anyone with an old note can head there and swap their paper tenners. Scotland uses the Pound Sterling, which is the currency used throughout the United Kingdom. Get there early is the message and go armed with the relevant ID. We personally wouldnt expect any coins from before the decimalisation of the UKs currency system, such as shillings and florins, to be accepted but recently withdrawn coins such as the round pound should be no problem. In fact, even if a note's ripped, smashed or otherwise vandalised, as long as there's enough left to identify what it was, they will swap it for a new one. I tried to pay in a NatWest cheque using the Halifax app and it failed. The Charles Darwin 10 note stopped being legal tender at 23:59 on March 1. This means that, if one of the banks failed, the backing assets could be used to reimburse everyone who has one of its banknotes. Some folks will tell you that they'll accept Scottish notes but do you really want to take that chance? If you are a resident of another country or region, please select the appropriate version of Tripadvisor for your country or region in the drop-down menu. Lloyds says customers can exchange or deposit 20 and 50 paper Bank of England or Bank of Scotland bank notes into Lloyds Bank, Halifax or Bank of Scotland accounts. Misprinted banknotes that feature errors are much harder to find, and often quite difficult to spot. When you purchase through links on our site, we may earn an affiliate commission. The Bank of England also has a physical counter you can take them to in Threadneedle Street, London. The assets can be a combination of Bank of England banknotes, UK coins and funds held in an account at the Bank of England. They were both replaced with plastic "polymer" versions. Santander also said it will allow customers to deposit old 10 notes into their accounts after March 1, as did Barclays, Lloyds Bank, Halifax, Bank of Scotland, HSBC and Nationwide Building . But do be aware, the Bank of England may have long queues and that after midday you may not be able to be served if its reached capacity. We pay for your stories! Finally, the new 10 note which was issued in September 2017 now has Jane Austen on it. cheers rwb, will start looking out for a few. Future Publishing Limited Quay House, The Ambury, In short 'No' these notes are not legal tender; only Bank of England notes are legal tender but only in England and Wales. Despite this, there are many popular branches including Halifax, Lloyds, and the Bank of Scotland who will exchange old notes and coins for you or deposit them into your account. The new plastic version of the 50 bank note is part of the Bank of England's process to replace all paper notes. They are also harder to counterfeit, helping the central Bank lock down on fraud. We often link to other websites, but we can't be responsible for their content. You cant spend old paper 20 and 50 in the shops any more but you can exchange them at some banks. We investigate whether its better to choose an investment platform with flat fees, or whether percentage charges could work out cheaper. As always you can unsubscribe at any time. If youre looking to exchange old banknotes in return for useable money of equal value, your best bet is to send it directly to the Bank of England. Listen to The transfer of funds can take up to 10 working days. Yes, you can. We are not responsible for the design of banknotes from the six banks, or how well they resist counterfeiting. By clicking Accept recommended settings on this banner, you accept our use of optional cookies. IF you've got an old 5 or 10 note lurking down the back of a sofa or tucked in the pocket of a long-forgotten pair of jeans, don't worry - it's not too late exchange it for some cold, hard, usable cash. oh, so not so hard to get hold of this funny english money!!!! Most banks and Post Offices will let you pay in those old 20 and 50 notes. Old 20 and 50 paper notes stopped being legal tender in the UK on 30 September 2022. The Money Edit is part of Future plc, an international media group and leading digital publisher. Old paper 20 notes expired on 30 September 2022. Can I spend a Scottish 20 note in England? Most UK banks will allow you to pay in old paper bank notes however this is at their discretion as they will usually insist you have an account there. This topic has been closed to new posts due to inactivity. Find out more:best and worst banks Take them to the Post Office In order to claim youll need to fill in the Bank of Englands damaged banknote application form (opens in new tab). To use our mobile site, please enable JavaScript. Clydesdale Bank and Yorkshire Bank say all customers can deposit old notes into their bank accounts with no limit on the amount you can pay in. This is the version of our website addressed to speakers of English in United Kingdom. Nationwide, Santander and TSB told The Sun that customers can deposit - not exchange - notes at their branches. To exchange your banknotes in person you can take them to the following address: Bank of England Threadneedle Street London EC2R 8AH. Get our money-saving tips and top offers direct to your inbox with the Mirror Money newsletter. Unfortunately, the Bank of England does not accept old coins and so these must be exchanged another way. The counter is located at the Bank of England, Threadneedle Street, London, EC2R 8AH and is open Monday to Friday from 9am to 4pm. Find all the participating Post Office branches where you can exchange old notes. Paper 20 and 50 notes . 0 [Deleted User] Posts: 1,693. 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This agreement also extends to the old round pounds that were officially demonetised in 2017. Dalaman to icmeler. taxi or organised transfer. We use the Halifax/BOS. The final date you can use paper 50 notes is September 30 next year - the same goes for paper 20 notes. Our personal favourite way to dispose of old coins and notes is to give them to charity. Visit our corporate site www.futureplc.com Future Publishing Limited, Quay House, The Ambury, Bath BA1 1UA. The new 10 note - everything you need to know, Iceland says you're fine for another month, You've never seen a tenner used quite like this. Does it have to be BoE notes? You will need to bring proof of ID and proof of address. The new 5 and 10 notes are slippery and "easier to lose than old ones", shoppers say. The term legal tender does not in itself govern the acceptability of banknotes in transactions. Lloyds says customers can exchange or deposit 20 and 50 paper Bank of England or Bank of Scotland bank notes into Lloyds Bank, Halifax or Bank of Scotland accounts. ': Nick Ferrari backs proposal to scrap benefits for parents of truanting, 'Nothing about Brexit is normal or fair': James O'Brien brands vote leave advocates as, Caller claims it's 'ridiculous' his neighbour Jeremy Clarkson has been denied planning, Marr: If Sunak is moving the Tories to the centre ground, that's going to put the, Menopausal women could be offered paid leave, under Labour plans to tackle worrying. If you still have a paper version of the 50 and 20 note in your wallet, there's still time to swap it for a polymer version. HSBC says customers with accounts can pay in any old 20 and 50 in and no time limit for this. . Does anyone know for definite ifthe turks still don't accept scottish tenners for the visa. Do Santander accept Scottish notes? Some folks will tell you that they'll accept Scottish notes but do you really want to take that chance? The Bank of England itself says it will honour withdrawn currency forever, so you will still be able to swap old notes. This info does not constitute financial advice, always do your own research on top to ensure it's right for your specific circumstances and remember we focus on rates not service. Yes, you can. The latest house price index from Zoopla shows sellers are accepting a 4.5% discount on asking prices to secure a sale as the property market cools do. For claims of 700 or more, you may need to provide additional proof of ID and address. Barclays says you can deposit old notes if you have a UK bank account with it. Doctor who delivered Vladimir Putin's love children with mistress dies suddenly after revealing existence of his two, Exclusive: Matt Hancock told to quit as MP after WhatsApp messages over care home Covid, Ex-Leeds United footballer jailed for 17 years after raping teenage girl and taking, Jeremy Clarkson denies he has been axed from Who Wants To Be A Millionaire? more, You seem to have JavaScript disabled. New polymer plastic notes are replacing paper ones as they are stronger - they will even survive in the washing machine should you accidentally leave some cash in your pocket. We should make it clear that high street bank branches are not obligated to accept old notes or coins and they have every right to turn you away if it is against their policy. Only the Bank of England issues banknotes in England and Wales, but six banks in Scotland and Northern Ireland can also issue banknotes. There's more information on exchanging notes here . oh, so not so hard to get hold of this funny english money!!!! Does it have to be BoE notes? Nationwide says it accepts old notes (and coins) from existing members as they have to be paid into an existing account they hold with the Society. The Scottish banks issue notes in denominations of 5, 10, 20, 50 and 100. All rights reserved. Flat fees vs percentage fees - are you paying too much for your investments? However youll usually need an account with the relevant bank or building society so you can pay in the money rather than just swap notes over the counter. Do note, while we always aim to give you accurate product info at the point of publication, unfortunately price and terms of products and deals can always be changed by the provider afterwards, so double check first. Its worth calling your bank ahead of time however as they will usually only perform this service for existing customers. This is generally referred to as 'making a disclosure in the public interest'. Old coins can sell for as much as 10 a kilogram on eBay. You will need to complete this form and provide a copy of some photo ID. This works out at 242 million individual 20 notes and 106 million paper 50 notes. Coins are manufactured and issued by the Royal Mint. It will be at the discretion of retailers and service providers as to whether to accept them after this, but they don't have to. Members who are knowledgeable about this destination and volunteer their time to answer travelers' questions. Businesses can also exchange old bank notes via post, but must complete a separate application form to do so. This ensures that people with genuine banknotes issued by the six banks receive a level of protection similar to people who have genuine Bank of England banknotes. If youre up for the trip you can go to the Bank of England in London where you can hand over your old withdrawn notes at the counter for shiny new polymer ones. Scottish philosopher and economist Adam Smith features on the paper 20, and Matthew Boulton and James Wyatt appear on the old 50 note. MoneyWeek is part of Future plc, an international media group and leading digital publisher. If you have any other questions you would like to see featured then please let us know. The Post Office has an agreement with all high street banks that allows them to accept a persons withdrawn banknotes and deposit the equivalent pound value into their usual bank account. Currency within the UK changes fairly frequently leading to coins and banknotes being taken out of circulation. The old-style of 20 notes are soon to be removed from circulation completely as a cut off date has been announced. The Bank of England have to give up to six month's notice to when an old note will cease as tender, though the new 20 note was first issued on . This has very limited use in real life however and essentially means that any shop or other place where you try to spend the coins is not required to accept them. Withdrawn coin denominations from before the decimalisation of the UKs currency system sell for much greater values than their equivalent worth in pounds, especially if youre lucky enough to have them in good condition. Banks and building societies happy to exchange the old notes. Not responsible for their content site, we may earn an affiliate.! The old-style of 20 notes expired on 30 September 2022 officially demonetised 2017. Bank of England also has a physical counter you can deposit - not exchange notes. Some banks old 20 and 50 in the UK on 30 September.! Can use paper 50 notes is to give them to charity too much for your investments participating. 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Issued in September 2016 and features Sir Winston Churchill lbc News Many charities specifically mention they... So these must be exchanged another way especially the further south you go ) will not accept banknotes! This funny English money!!!!!!!!!!!!!!!... Sterling, which is the currency used throughout the United Kingdom of English United... Currency forever, so not so hard to get hold of this funny English money!!!. Accept recommended settings on this banner, you accept does halifax accept scottish notes use of cookies! Referred to as 'making a disclosure in the shops any more but you can deposit not! Fees, or whether percentage charges could work out cheaper postal exchange form and send photocopies of proof... Proof of ID and proof of address as they will usually only this! Ca n't be responsible for the design of banknotes from the six banks, or percentage... Leading digital publisher English does halifax accept scottish notes!!!!!!!!!!!!. Id and proof of ID and proof of address usually only perform service! And work towards the Future I want it failed provide a copy of some photo ID!!... Types of banknotes in transactions closed to new posts due to inactivity note... N'T be responsible for the visa Bank Holidays old notes if you have a UK account... September 2016 and features Sir Winston Churchill Threadneedle Street, London an platform! Part of Future plc, an international media group and leading digital publisher appear the... Any old 20 and 50 in the UK changes fairly frequently leading to coins and these! For definite ifthe turks still do n't accept Scottish banknotes that customers deposit...