steviedeluxe

It seems the 500 Euro note is being withdrawn from sale in the UK, because it's at the heart of money laundering

http://news.bbc.co.uk/1/hi/magazine/8678979.stm

I remember once receiving a couple of 500 notes in my pay packet. I have to admit I found it quite nerve wracking trying to find somewhere to spend it (and get change). It's hardly the type of note you could hand over to pay for your cafe y churros, or even for the menu meal. I suppose I should have just bought 200 lottery tickets!

jackytoo

Once saw a Chinese man hand over one in Alcampo. He only had about 40 euros of groceries. They changed it without problems except to check it for forgery. Have recently seen notices in some stores saying they do not accept them. I handed over a lot for a car, they put it all into a machine to check it and one of the notes turned out to be a forgery Fortunately it was only a 20E

bil

Yeah. I needed to buy a car here so had to bring over cash as I was sick of paying an outrageous commission to have my money spend a week in mid air.

'Bin Ladens' as they are known are a damn sight easier to carry, even a second hand older car costs a few thou, and a wad of 50 pound notes would have been conspicuous. I sewed a cash pocket into my underpants on the basis that if a pick pocket got into there, he would HAVE to alert me to the problem.

Dick Dasterdly

I read an article a couple of weeks back which claimed that at least the equivalent of a quarter of Spains GDP is stashed away in 500 euro notes in ppls houses and never sees the light of day.
I get looks of amazement when I take a few back to the UK,mainly towards the kids European holidays, but at least they can still be presented to a UK bank and changed.
There was a sign up in our local Lidl last year that they would not accept any notes greater than fifties.
Not seen it lately so don't know if thats still the case.

lynnxa

I tried to use one in Mercadona one morning - they said they couldn't change it - they had only just opened

they managed to when I explained that I had nothing smaller & no car to get anywhere else to change it



I'll be using one today, too - for some COD stuff from Carrefour

paintermujer

Isnt COD great.

So far removed from the usual system in the Uk.

jdr

Two Bin Ladens, you must be a gangster.

Madridboy

Only ever use them to light cigars with.

Dick Dasterdly

Well I was a bit short on bog roll the other day.................could do with making them a tad softer I dare say.

Madridboy

lynnxa

brilliant, isn't it?

they asked if I wanted to pay in the shop or COD - no brainer really

& they rang when they said they would to arrange delivery time - & delivered on time too


I get my mercadona shopping delivered COD too

lynnxa

I wish............

- they are always on the crispy side

snikpoh

I can't believe that so many people have used them.

How have people got them? Banks tend not to give them out, cash points certainly don't, no shop will take them (in my experience).

Is this perhaps even more proof of the black economy even within the British community?

HBG

I used a small number of them to buy a car privately, and withdrew them from my Spanish bank. I was a bit worried about the whole transaction and made as many checks as I could on the seller beforehand, but it was a deal that was simply too attractive.

We met at the Melia Hotel in Alicante, I had already test driven the car previously. The seller wanted to complete the transaction there but I insisted on walking to the nearby RACE (motoring organisation) office to check and hand over the paperwork for the staff to deal with the ownership change etc.

Then he handed me the keys and I took the notes out of the cigarette packet I was carrying them in. It all sounds a bit James Bond, but I still have the car five years later.

lynnxa

we changed some money at the bank - got them then....................