Paper £10 notes stop being valid from the end of the month

Lotus wrote:I found a stash of them at home the other day so took them to the bank and paid them in. There does seem to have been less noise made about the £10 notes expiring than when the £5 notes did, for some reason. It'll be the £20s next I guess.

The £20 note will be changed in 2020.

Oh crap. I didn't realise. I have a stash. I guess I'll have to take them to the bank.

You can pay in the old tenners at all UK banks and building societies after 1st March.

No need to go to the BoE

You just can’t spend them in shops from that date

KingK wrote:You can pay in the old tenners at all UK banks and building societies after 1st March.

No need to go to the BoE

You just can’t spend them in shops from that date

I thought that would be the case, and will probably be OK, but from the BBC article I saw:

The Bank says people can also try to exchange paper tenners at their local bank or post office.
However they are not legally required to accept old notes after the deadline.

Better safe than sorry, and get shot of then in time I think.

I work for a building society.

KingK wrote:I work for a building society.

Excellent - proper information from the horses mouth! Thank you.

This is a conspiracy to count benefit claimants' hidden cash reserves!

Why do people have cash stashes?

Why do you need a plastic tenner? What does it look like?

Some will have stashes cause they don't trust banks, others it will just be a way of saving, and some will have benefits there not entitled to if they have over a set amount of cash, so basically all kinds of reasons.

Alvin Flummux wrote:Why do you need a plastic tenner? What does it look like?

We have polymer £5 and £10 notes, they are more hard wearing, water proof and a lot more difficult to fake

Alvin Flummux wrote:Why do you need a plastic tenner? What does it look like?

As Richard says, they last longer and are harder to forge.

They look like….wait why am I Googling it for you? Use Google yourself you lazy bastard.

And they upset vegans!

Quite a few countries use plastic banknotes now, Australia and Canada have them, along with a number of smaller nations like Romania.

Hexx wrote:And they upset vegans!

That’s the best reason to have our meat filled plastic notes. :datass:

"One cow died for every plastic note"

"Wow, one for every note, that's sickening. All those dead cows"

"No no, they made every note out of just one cow"

"oh"

It only takes one cow to make 1000 banknotes, it only takes one banknote to kill 1000 cows.

Hexx wrote:And they upset vegans!

Now that's just an added bonus.

Skarjo wrote:Why do people have cash stashes?

If you're really bad at saving it helps to see the money pile up and conversely, feel like you are spending (or not spending) substantial sums when, over time, you are if you're poor. I don't do that normally but I recently did to save for holiday and yes I would have had to declare 200 odd quid. I cashed it in anyway thanks to cost of moving as my landlord sold up.

Think of the povvos.

Now I have an electronic savings account, I did before as well but it's very easy to quickly transfer money online and "dip". Whereas physically taking money to a bank, that's always closings earlier than you think or it's too cold etc etc.

Also, people on long term disability benefit (PIP now) have a cap on allowed savings which means those who are savvy with cash, essentially end up getting penalized for not spending all their benefits.

There's not really anything to stop people on benefits from having more than one bank account though (currently the government/taxman only have access to view the account the benefit is paid into, unless the claimant is under criminal investigation) so there's no actual reason to keep bundles of cash under the matress provided you aren't fraudulently claiming benefits.

Paper £10 notes stop being valid from the end of the month

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