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Invalid British pounds

Replies: 11 - Last Post: May 30, 2013 3:22 AM Last Post By: Nicolapicola

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Mischaela

Mischaela avatar

Nov 16, 2012 8:21 AM
Posts:  5

Invalid British pounds

I have a very special question.
I have some British pounds that are not valid any more in the Czech Republic and Czech banks take 20% charge which I dont want to give them. But they informed me that they can be still usable in Britain.
I plan to visit London in order to spend the money :-) and need to know if I can spend them in London pubs, or is it necessary to change it in a local bank and what fee will the bank charge for it.

Is there some bank expert who could tell me if twenty pounds notes issued in 1999 (there is a picture of Sir Edward Elgar) and 5 pound notes issued in 1990 with a picture of George Stephenson are still valid in Britain?

Voyager_2002

Voyager_2002 avatar

Nov 16, 2012 8:38 AM
Posts:  3,890

1

They can be exchanged for current notes at the Bank of England (in person or by post). In practice, most major banks in the UK are likely to exchange them for you, and you may well find that shops and other businesses are happy to accept them.

edthesock

edthesock avatar

Nov 16, 2012 5:49 PM
Posts:  208

3

Any bank should change them. I work in tourism and get old £20 notes from time to time and changing them is not a problem. If you have £10 and £5 notes and are in centeral London I will change them for you but only if they are in good condition.

rorygemwriter

rorygemwriter avatar

Nov 16, 2012 11:33 PM
Posts:  3,073

4

"Any bank should change them"

Some banks refuse unless you are a customer.

edthesock

edthesock avatar

Nov 17, 2012 2:59 AM
Posts:  208

5

Really? I have yet to encounter that though I have only had to change the £20 notes that went out of style a couple years ago.

Mischaela

Mischaela avatar

Nov 17, 2012 5:21 AM
Posts:  5

6

Thanks a lot to all of you for the helpful information.
Ok then I will go to London and spend it there :-)

Nicolapicola

Nicolapicola avatar

Nov 19, 2012 3:45 AM
Posts:  173

7

#5 Yes, I work in London W1 for various businesses (I'm a temp) and when I have attempted to change a large note for change in the banks they are very hostile and suspicious and ask me to prove that I (or my client, whose money it is) are clients of the bank (Nat West especially bad about this). It has made it very difficult for us to be able to advise foreign visitors where they can change their large notes in order to pay their bills.

Voyager_2002

Voyager_2002 avatar

Nov 19, 2012 4:03 AM
Posts:  3,890

8

I am surprised by #7: I thought that banks were legally required to change valid bank notes on request. I have only ever had money refused by Nationwide, and when I queried this they responded by pointing out that legally they are not a bank. (Are you sure you meant NatWest and not Nationwide?)

battybilly

battybilly avatar

Nov 20, 2012 1:35 AM
Posts:  12,228

9

Nationwide.... Proud to be different ! !

Mischaela

Mischaela avatar

May 24, 2013 11:43 PM
Posts:  5

10

I am back and glad to say, that the first bank somewhere near Victoria (I think it was HSBC) I stepped in change the pounds without a problem and any charge.

As a bonus the bank clerk was a handsome young guy. :-)

Nicolapicola

Nicolapicola avatar

May 30, 2013 3:22 AM
Posts:  173

11

Voyager 2002 - just come back to this thread - yes, definitely NatWest none of the Harley Street specialists I work for bank at Nationwide! I don't think the banks are legally required to give you change of a big note - except the Bank of England, perhaps - they used to do it as a courtesy service but now they don't want to do it unless you are one of their regular customers.
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