There is still a staggering £9 billion worth of old bank notes out there waiting to be exchanged! What to do If you stumble upon old paper bank notes or coins hidden away in an old bag or wallet.
Notable banks and building societies that are happy to facilitate the exchange include Barclays, Halifax, Lloyds, Nationwide, NatWest and Santander - these banks generally allow you to deposit the money into the account that you hold with them. However, it's wise to check with your bank beforehand to ensure they still provide this service.
If you prefer to visit the Bank of England in person, head to their counter at Threadneedle Street in London For exchanges at post offices, you can do so at participating sites, free of charge, with a maximum limit of £300 within a two-year period. Remember to bring your photo ID, as theYou can swap old £5 notes up to £50 notes are the post office. To find a participating branch, visit the store locator on the Post Office websiteYou can also swap your old banknotes at the Bank of England counter at Threadneedle Street in London.
Alternatively, you have the option to post your old notes to the bank - but this is done at your own risk and the bank advises you to put measures in place to reduce the chance of loss or theft. To swap notes by post, you'll need to complete a form and send it along with your notes, a photocopy of your ID and proof of address. There is currently no time limit when it comes to exchanging your old banknotes at the Bank of England.
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