£20 Notes Being Phased Out

[tooninthai]

Have a look in your wallet: any £20 notes with the image of Edward Elgar on them will not be legal tender after June 30 this year.

This means that shops no longer have to accept the notes, and it is up to banks whether they agree to swap notes after this date.

Source :- Daily Telegraph.

Obviously if any of you are hoarding your millions in £20 notes or have robbed any banks, get them changed soon

[smokie36]

What's this got to do with the price of somtam?

[givenall]

What's this got to do with the price of somtam?

Bill are changed all the time but never heard this. It is observed in a western country a bill that is phased out can’t be used any more. It should be legal as long as it is in the circulation and eventually they will all be collected and replaces

[chiang mai]

http://www.telegraph.co.uk/finance/persona...gal-tender.html

[true blue]

http://www.telegraph.co.uk/finance/persona...gal-tender.html

cheers, just found 1 20quid note with edward on it in my wallet,bangkok bank can have it this afternoon.

[JamieWakeman]

I wonder how they are going to manage that, surly it would be a better idea to just create a brand new 20 pound note altogether or do you think that would be way more hassel ?

[planemad]

Maybe worth a visit to the Bank of England website, not quite as scary as the OP suggests!

http://www.bankofengland.co.uk/banknotes/newtwenty/

some more information here.

http://uk.reuters.com/article/idUKTRE6272PQ20100308

[GreenSnapper]

Thanks for the information.

I have a few of those 20 Pound notes, but I'm not British so I shall get rid of them as long it is still possible.

[neverdie]

Actually, I think you will find this is the least of Britians currencies worries.

[carmine]

Actually, I think you will find this is the least of Britians currencies worries.

I love the wit of our colonial brothers

[tooninthai]

I wonder how they are going to manage that, surly it would be a better idea to just create a brand new 20 pound note altogether or do you think that would be way more hassel ?

We have new £20 pound notes it is the older ones that are being phased out.

Maybe worth a visit to the Bank of England website, not quite as scary as the OP suggests!

http://www.bankofengland.co.uk/banknotes/newtwenty/

some more information here.

http://uk.reuters.com/article/idUKTRE6272PQ20100308

I never meant it to be scary. Just a bald statement of fact. And forewarned is forearmed, especially for those bank robbers with their hoards of cash stashed under the mattress

And as there might be people here with some of the older £20 notes it is surely better to trade them in now before the Thai banks decide not to take them any more? The Thai banks can be fickle at the best of times.

[game4shame]

sterling is practically worthless these days anyway.

[jackspratt]

I await with interest for the next time a thread is closed down because "it has nothing to do with Thailand".

[Carmine6]

Is this typical for them to just stop them from being legal tender? Normally governments do that with something like a currency split where they take a couple zeros off. They only stopped printing these 3 years ago.

What they're doing is effectively voiding a lot of currency. It turns into a gift certificate that has value, but only in a certain place.

[tx22cb]

Oh, bother! I just saw an article about the 20 quid note that today was the last day that it is of "legal tender" .... and I find that I have several of these Elgar notes in a drawer. I searched the ThaiVisa forum and found this topic, so I append my plea herewith.

As it's past 10 pm on 30 June, I can't do much today, but I'd be grateful for any suggestion as to what my options are on exchanging these Elgar notes over the next few days (short of going to Threadneedle Street). I don't mind converting them to Baht or even the USD.

Much obliged ...

[yabaaaa]

sterling is practically worthless these days anyway.

Yes Please send me all your "worthless" currency now thanks

[Shotime]

I could think of a couple other uses for them.

When it comes to topics having nothing to do with Thailand being closed, but have something to do with Brits, it's a whole different story.

Switching gears, 75% of the lead topics on page 1 of the general forum are closed. What up wit dat?

Oh yeh, who, the fuc_k, is Ed Edgar, anyway? Just kidding. I don't really care or want to know. He must have been some financial swindler.

[bonobo]

I await with interest for the next time a thread is closed down because "it has nothing to do with Thailand".

While not specifically having to do with Thailand, this is of interest to people in Thailand who might have the notes as changing them is not as easy here, so I am letting this run just as other threads have run about changes in US passport policies or absentee voting procedures for Australia.

[Shotime]

I never knew US passports were made in Thailand. Apparently, right outside of Bangkok. Yikes!

[Briggsy]

Just checked mine. All Adam Smith down to the last note. Phew.

[astral]

A misleading title.

Only the Edward Elgar notes

All mine are Adam Smith, thank goodness.

[greyfriarsbobby]

Is this typical for them to just stop them from being legal tender? Normally governments do that with something like a currency split where they take a couple zeros off. They only stopped printing these 3 years ago.

What they're doing is effectively voiding a lot of currency. It turns into a gift certificate that has value, but only in a certain place.

The reason for withdrawing the notes, as the BOE do with all denominations after a period of time, is to reduce the chances of forgery. The new Adam Smith notes were introduced in 2007 and at that time it was announced that theElgar (he of Pomp & Circumstance Musical Fame) would be withdrawn idc.

Like ALL withdrawn notes these will still be accepted at face value by the BOE no matter how long ago the notes were withdrawn. The notes can still be exchanged at all banks, bulding scocities and Post Officeces, at the managers discretion.

Don't panic!

[Tonto21]

What's this got to do with the price of somtam?

Bill are changed all the time but never heard this. It is observed in a western country a bill that is phased out can’t be used any more. It should be legal as long as it is in the circulation and eventually they will all be collected and replaces

You’re partly right! UK, Small bills 5’s, even 10’s are allowed to run out,(thay change hands fast) in other words they are collected by banks and not reissued. Large bills, 20’s 50’s there’s a problem with these. Some people hold onto them, as savings, (still a lot of people don’t trust banks) so when the treasury cancel the large notes a time limit in which to use them as legal tender. You will still find a bank will take them, if depositing into a private account….The reasons for canceling bank notes is varied, but anti-counterfeiting is the big one.

[kunash]

Is this typical for them to just stop them from being legal tender? Normally governments do that with something like a currency split where they take a couple zeros off. They only stopped printing these 3 years ago.

What they're doing is effectively voiding a lot of currency. It turns into a gift certificate that has value, but only in a certain place.

The reason for withdrawing the notes, as the BOE do with all denominations after a period of time, is to reduce the chances of forgery. The new Adam Smith notes were introduced in 2007 and at that time it was announced that theElgar (he of Pomp & Circumstance Musical Fame) would be withdrawn idc.

Like ALL withdrawn notes these will still be accepted at face value by the BOE no matter how long ago the notes were withdrawn. The notes can still be exchanged at all banks, bulding scocities and Post Officeces, at the managers discretion.

Don't panic!

correct, banks will still even accept the old old old 1 pound notes. ( sterling )

[bprinceuk]

Oh, bother! I just saw an article about the 20 quid note that today was the last day that it is of "legal tender" .... and I find that I have several of these Elgar notes in a drawer. I searched the ThaiVisa forum and found this topic, so I append my plea herewith.

As it's past 10 pm on 30 June, I can't do much today, but I'd be grateful for any suggestion as to what my options are on exchanging these Elgar notes over the next few days (short of going to Threadneedle Street). I don't mind converting them to Baht or even the USD.

Much obliged ...

I was not previously aware of this and when I went to the Siam Commercial Bank two weeks ago to change some sterling currency into BAHT they would not accept these notes. The lady Bank teller showed me a photograph of the 20 pound notes on her computer which they would accept. Now have 240 pounds worth of these old notes which I will have to change on my next visit to the UK

Brian

[hhgz]

"forewarned is forearmed"

And, four-armed is half an octopus.

[MAJIC]

I could think of a couple other uses for them.

When it comes to topics having nothing to do with Thailand being closed, but have something to do with Brits, it's a whole different story.

Switching gears, 75% of the lead topics on page 1 of the general forum are closed. What up wit dat?

Oh yeh, who, the fuc_k, is Ed Edgar, anyway? Just kidding. I don't really care or want to know. He must have been some financial swindler.

I take it you are not musically challenged then?