£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It's only the Houblon £50 that is being withdrawn.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.

Re: £50' notes
 

No problem at all, nice and springy,

... and the added bonus is that you needn't worry about wetting the bed if you come home rat-arsed one night. :rofl:

Re: £50' notes
 

:rofl::rofl::rofl::rofl::rofl:

Re: £50' notes
 

Shame Spain doesn't have it's own currency.

Imagine the widespread panic amongst black marketeers, from Royalty down to Cowboy builders, if they suddenly pulled in everything from 50s to 500s to replace them.:blink:

Re: £50' notes
 

thought they were withdrawing all the €500 "Bin Laden" notes.
:confused:

Re: £50' notes
 

Somebody did some work on this years ago as I seem to recall. The estimate for the amount of money stuffed under mattresses and in cupboards was astonishing, haven't got time now but later I will see if I can find it.

Re: £50' notes
 

The money or the estimates ? :unsure:


500 euro notes are no longer issued in the UK for exchange.

Other than that I don't believe the situation has changed although there have been requests from some quarters for them to be withdrawn altogether.

Re: £50' notes
 

Non of the banks or exchange bureaus in Gib would touch the €500 or €200 from their inception

Re: £50' notes
 

There may be a terrible crisis in progress but I reckon the Spanish must have the most valuable mattresses in the world.

It was reported that at least half of the bin ladens issued in Spain quickly disappeared from circulation and have rarely seen the light of day since.

Re: £50' notes
 

they travel the world in metal suitcases
the easiest way of paying for drugs as there is no other note of that size/value

`

Re: £50' notes
 

25,000 euro in a fag packet.
90% of them used to fund criminal activities.

Interesting link.

http://www.dailymail.co.uk/news/arti...ime-fears.html