For the last year, I've had hardly any 'cash in hand'. In March last year, both the Daily Telegraph and the Daily Mail published articles stating that the WHO had advised people to use contactless payments because of coronavirus. Overnight, it became almost impossible to pay by cash [in fact these two newspapers had both misquoted the WHO, but you will struggle to find an apology or correction anywhere] In fact the coronavirus does not live long on currency, and with proper hand hygiene it is OK to handle money.
The banks have progressively increased the upper limit for contactless payments, more and more shopping is done online...and 99.9% of financial transactions are cashless [there are still a few car parks which haven't gone cashfree, and some supermarkets require a pound, or a token, for the trolley] On February 20th, 2020, two weeks before all this happened, the Bank of England issued a new £20 note. Many people may not even have handled one before the country when cashless.
The old one has the profile of Adam Smith the economist, the new one shows the artist
Joseph Mallord William Turner. The picture is taken from the self-portrait he painted when he was 24, and behind him, "The Fighting Temeraire" painted in 1838 when he was 63. I have to say I prefer the newer design to the old one!
The new note almost passed me by - I certainly never blogged about it's arrival. But in recent weeks, I've been selling bits and pieces on FB and people have paid me with cash [mostly fivers - I need to clear the stuff and I'm never going to get rich this way] And then last week I sold some furniture through a local Facebook group. One lady gave me an old note, the other customer, a new one.
I compared them - and then wondered "Is this old note still valid?" A quick internet check relieved my concerns.
Do not worry, dear readers! If you have an 'old style' £20 note in your wallet, tucked behind the clock or hidden in your knicker drawer, it is still legal tender. When the Bank of England released them on 20.02.2020, NO date was given for when they would cease to be valid. And the B of E is required to give 6 months notice for this. So these are still worth something, at least up until September ... but I am still going to pay mine into the bank soon.
I've stubbornly refused to use contact-less unless I've absolutely been forced to, which only happened once at a DIY place.
ReplyDeleteContact less makes my bank statement look longer than usual! I shall carry on with cash while I can
It is REALLY hard to find shops that will take cash round here. Even the self-scan machines in the supermarkets are now adapted to 'cards only'. I wonder when the Bank of England/Royal Mint will start phasing out 1p/2p/5p coins?
DeleteI didn't notice there had been a change but my godmother sent me a £20 for my birthday and I remember it was a new-feeling one. I hope you have managed to pay it in soon (was this why you had to go to the bank the other day?)
ReplyDeleteYes, I realised I had quite a few notes in the back of my wallet- and they needed to go into the account.
DeleteI found an old £20 note in a bag I hadn't used for ages. The bank was happy to exchange it for a new one.
ReplyDeleteI am very diligent about checking pockets and bags when I am sending things to the Charity Shop.
DeleteGood to know about the new £20 note. Was in the UK in January 2020 and still have three of the old £20 notes. Whenever I come back from the UK, I always keep a certain amount of cash for return trips. Dislike exchanging money at the airport, but like having some ready cash on me for onward travel. Hope to make it over again in 2021.
ReplyDeleteI will say that a couple of years ago when the pound coin changed and I didn't get back before the expiration period, I was able to go to a bank (with my passport) and explain my situation. They provided me with the new coins in exchange for my old ones. Of course, these days it isn't always easy to find a bank. So many have been shuttered or won't help if you aren't a customer.
I imagine that quite a few people travelled in early 2020, and hung on to currency expecting to return.
DeleteYep. I used to work in a bank and I remember we accepted notes for a long time after they changed over. We would also help with notes that we were supposed to advise people to send to the Bank of England because they had been in the washing machine etc. I remember spending a good 20 mins putting together a £10 note that a puppy had mauled. It was very satisfying but I'm not sure the people behind in the queue appreciated it
ReplyDeleteI can picture you being very determined with the fragments of paper!!
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