Old For New Tenners At The Post Office

[paul1763]

Can you swap old for new style ten pound notes at the post office, as A friend tried to exchange £120 today and was told they are not allowed to change money for money, this just doesn't sound right to me but it maybe true however the woman serving can be awkward at times. Are any of you ABer's PO counter staff with knowledge on this as I can't find any info. Thanks

[yogi-bear]

Not sure on Post Office policy regarding this, but my two banks change ANYTHING if you're a customer.....found a sad of old £5 notes in my 'man drawer', among my pointless old mobile phones, leads, chargers and assorted gadgets...took them in....just straight into account and you can take them out immediately, if needed.......the cashier said she had a really old shilling note, I think it was, brought in that morning, that they changed up, therefore no need to send to The Bank Of England in London for changing.

Old £10 notes will be phazed out sometime in Spring 2018, but still be changed in Banks/Building Society's, so no immediate rush.

[yogi-bear]

^^Found a wad....not sad.....piggin' predictive text!

[Mamyalynne]

I'd have kept a one shilling note for the novelty factor , they were issued by the British Military Authority.

[Buenchico]

It's not just the Post Office. Legislation designed to prevent money-laundering prohibits any bank or similar institution from simply exchanging money. Such institutions are obliged to ensure that there's a 'paper chain' of records kept, recording every transaction that they're involved in.

For example, I had £140 in old £1 coins that I wanted to change for new ones. When I took them into my bank (Barclays) I was told that a direct swap wasn't possible (as the law prohibited it) and that I'd therefore have to pay £140 into my bank account and then withdraw it again.

[Flonska]

Buenchico . . . your experience reminds me of a similar incident at a Building Society Branch some years ago. Having accepted the cashier's explanation that the coin hoard had to be paid into his account, the customer asked to withdraw the equivalent sum in notes and handed over his passbook. The cashier refused to sanction the withdrawal unless additional identification could be produced.

[yogi-bear]

Evening all,

The cashier had the till open and showed me the note, Mamy...it was a purple colour and looked well kept and crisp.....wonder what they changed for it?....should have kept it, like you said, as collectable and lovely to have.

[Mamyalynne]

Exactly.

[yogi-bear]

Chris,

You are quite right.....As I mentioned earlier, the banks will not change the old notes for new over the counter....they ask you to put it into your account and you're then free to take the money out again straight after.

[hellywelly4]

Seems a strange thing to do. The old tenners are still in circulation, why did your friend want to change them?

[TonyV]

I prefer old notes - the new ones just seem to "glue" themselves together and are very difficult to separate

[paul1763]

Thanks all for your answers, I changed them in my bank this morning but even they wanted proof that I banked there

[Peter Pedant]

The govt are busting a gut to make £1 coins unusable

http://www.mirror.co.uk/money/what-old-round-pound-coins-9832465

they cease to be legal tender Oct 16th apparently

( yeah yeah I know a pound coin isnt a tenner)