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Check your 20's...


sparks

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  • 4 weeks later...

From Bank of England website

 

The Bank of England is withdrawing the older style £20 notes that show a portrait of Sir Edward Elgar. Holders of these notes may continue to use them until the end of June 2010.

 

For several months after the end of June most banks, building societies and Post Offices will accept the Elgar £20 notes for deposit to customer accounts and for other customer transactions. However, agreeing to exchange notes is at the discretion of the individual institution

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No... it's because banks are working on the idea that a lot of these notes will find their way back into savings accounts...

 

I've got a theory that this is not the last time this will happen in the near future - simply because an awful lot of money has been taken 'out of the system' since it's not making any interest in the bank.

 

In fact if you have a bit spare, you'd be well advised to keep a stash for the time when the cash machines suddenly close - we were within of few hours of that happening a couple of years ago, and the worst is yet to come!

 

Of course it wouldn't be long before people realised that those pieces of paper were useless anyway, so you also have to have other 'currency' available... :Winky:

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Just been up and swapped £660 worth of these,When i told her £300 of these were given out this monday all she could say was,Well they are legal tender till today.I then said well i rang Yorkshire Bank head office and they said no branch should be giving these out now and someone at the branch is incompetent.She didn't know what to say to that.

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