£50' notes
 

If any of you like me have a stash of them, from 30Apr, they will not be legal in shops and I think from Oct is up til when you can bank them.

I hope Sabadell will take them tomorrow. I only found out today

Re: £50' notes
 

Are you talking about Spain or UK?

Re: £50' notes
 

UK will not be legal tender apparently.

Re: £50' notes
 

It's only the Houblon £50 that is being withdrawn. Banks usually take them long after withdrawal. The Bank of England will always replace them at face value so no need to panic.

Re: £50' notes
 

£50. Or €50. Notes which do you mean cos I got a few €50 in my wallet?

Re: £50' notes
 

Interesting definition of legal tender.

6. 'Legal tender' means that if a debtor pays in legal tender the exact amount they owe under the terms of a contract, they have a good defence in law if they are subsequently sued for non-payment of the debt. In practice, the concept of 'legal tender' does not govern the acceptability of banknotes as a means of payment. This is essentially a matter for agreement between the parties involved.

In any event most banks and bld socs will continue to accept them to credit to customer accounts
.
...... or else exchange them in amounts of £200 up until Sept 30th.


It applies to notes issued before 2011, later ones are ok.

Re: £50' notes
 

Why would the Bank of England be interested in €50 notes?

It's ONLY the Houblon £50 note.

You can NOT spend them after 1st April and then only have until 1st October to exchange them at the Bank of England (no other bank apparently).

Re: £50' notes
 

You sure of that date, already well past, so it's a scam by the bankers to get a load of your money for nothing?..:sneaky::scarper:

Re: £50' notes
 

Re: £50' notes
 

Sorry, typing error, I should have said 1st May

Having read the excellent link that Fredbargate provided, it seems that some of the information reported recently was not correct. Other banks will exchange them as well.

Re: £50' notes
 

Did no believe me? :(:(

Re: £50' notes
 

I imagine it will give the Inland Revenue the opportunity to enquire about the source of any unusually large amounts of cash that suddenly turn up in bank accounts from unexpected sources, say no more, wink, wink.

Re: £50' notes
 

This is quite true, I have made regular cash deposits in the same bank for years and as such know quite a few of the cashiers very well.

They don't have to do anything, the system automatically throws up a query if irregular or unusual amounts are deposited.

Moral of this story, don't keep all your eggs...

Re: £50' notes
 

Will these new plastic notes that they plan to introduce in 2016 be still as soft in my mattress?

Re: £50' notes
 

There's no deadline for exchanging them at the Bank of England after they are withdrawn. You can still exchange pre-decimalisation currency if you have it.