Old £20 note cease to be legal tender

[princessabz 10]

you can still bank them !!!!!!!!!!!!!

[Majestic 10]

I have just checked my wallet. Fortunately it is full of one pound notes, so I will not get caught out!

Edited June 29, 2010 by Majestic

[Weazel2006 27]

How do drug dealers swap their 20 pound notes...that many 20's should look suspicious coming from a chav

[Darth Vader 10]

MANY thanks for this heads up because it's just saved me quite a bit of money.

[matsalleh 10]

I am a fully authorized £20 note recycler offering a free recycling service.

Please send your notes to me.

PS I will still collect them after the 30th,but this will incur a small admin fee.

[milquetoast1 10]

When i worked at a garage some 10 years ago, we used to accept any age coins/notes, cos it makes no difference when you bank them (or at least it didn't then)

Banks will only accept them for a certain period of time, and only if they want to go to the effort of exchanging them with the BOE themselves.

 

I tried my bank first with my Faraday note, but had to send it to the BOE myself.

[milquetoast1 10]

How do drug dealers swap their 20 pound notes...that many 20's should look suspicious coming from a chav

When the Money Laundering Regulations 2003 came in force this did indeed cause a headache for drug dealers who had become accustomed to buying their cars, or villas in Spain, with cash. I heard stories of the police searching suspects properties and finding £'000s in cash that they didn't know what to do with.

 

This is the reason for the rise in the number of businesses that have takings of a few hundred pounds a week, but actually declare, and pay taxes, on many thousands. Businesses used to operate the other way round, but now the criminals are having to pay tax simply to legitimise their ill-gotton gains.

 

For criminals that have piles of cash they don't know what to do with, phasing out old designs of banknotes must be a nightmare. Trying to change it with the BOE is bound to raise a few questions. The form I completed to send with my £20 note specifically asks how you came by the old currency.

 

Err, I found this £15,000 in Elgar notes in a tin buried in the garden.

[charlie9865 10]

I heard this when watching gmtv this morning, kind of come out the blue really.

[jaffa1 10]

A friend of mine has just told me it's the last day for the banks to change

old £20 notes.

Has this been in the news , I didn't know they were going out of circulation.

The banks have been very secretive about this and we're told "if you have any , you must apply to the Bank of England to get them changed".

[alex3659 11]

I will give £19 each for them.

 

You can take them to your bank.

[Bloomdido 10]

This was known about a few years ago unless there has been another change? What about all the old people with money under the mattress?

[DaFoot 10]

I'm sure the banks will honour them for a while.

If you ave a particularly crisp/clean one I may swap it for a current note if you want.