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Friday, December 2, 2022

11 billion pounds of old print will be worthless in a week

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According to Bloomberg, the Bank of England has announced that British consumers have only one week to spend before replacing the last £11bn worth of £12.4bn of old-fashioned banknotes.
According to the Bank of England, as of September 30, around £6bn of paper will no longer be accepted by British companies, with £50bn out of the old £50 cash and £20bn. That’s a total of more than 360 million banknotes.
People can exchange paper for new currency, made from a plastic-like polymer, by coming in person to The main Bank of England’s headquarters in Threadneedle Street in London and mailed or sent from designated post offices. Many commercial banks will also allow these to be deposited into accounts.
By Thursday morning, the queue of people heading to the Bank of England’s money exchange desks already stretched out into the street. The end of the £20 and £50 notes will complete the UK’s transition from polymer to paper New cash.
Bank of England, Queen II. He said that all the polymer numbers of the coin bearing Elizabeth’s picture were still from Can.

Source: Alayam

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