Polymer GBP

To be fair the exchanger then has a handling problem - they can’t pass on those old notes to another customer or through normal wholesale channels. Unrealistic to expect them to swallow that cost?

 

 

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Maybe I was a bit harsh. They can probably transfer them back to their UK office for them to deal with, which I admit is a cost. I still think they prefer to give you a bad rate on US$ conversion than a reasonable cost for dealing with the old notes (which they have to do anyway).

Banks in the UK will exchange them, and at full face value - or at least they will for their own customers.

But I'm not sure whether they will for others. Only one way to find out.

I was in Southampton in May and tried to use the old paper notes from a previous trip to England. The store wouldn't take them, but said go to a bank. I went to the nearest bank and the exchanged them no problem.

I took some old paper £10 notes off some visitors recently and took them into a Barclays. No issue with taking them over the counter for a straight swap. It was a teller who didn't know me and who didn't ask whether I'm a Barclays customer, so I suspect that they would do it for anyone. I was half expecting to be made to pay the money into my account.