Cash warning to Britons who shop in ASDA, Tesco, Sainsbury’s, Morrisons and Lidl | Personal Finance | Finance
Undertaking the weekly or monthly food shop will be a regular occurrence for millions of families. However, covering the cost when a person reaches the checkout is perhaps the most important aspect of all.
In this sense, Britons who use cash to make their payment should note a vital update.
The change to bear in mind relates to the validity of £20 and £50 notes, and failing to take heed could mean a person’s transaction is rejected outright.
From September onwards, paper £20 and £50 notes will no longer be considered as legal tender.
Over the last few months and years they have been replaced with polymer alternatives – a type of plastic – in a new design.
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Paper notes can be deposited into UK bank accounts, and some Post Offices may still accept them.
All withdrawn notes will continue to be exchanged by the Bank of England.
The chief cashier for the central bank, Sarah John, said: “We want to remind the public that they only have six months left to spend or deposit their paper £20 and £50 notes.
“Over the past few years we have been changing our banknotes from paper to polymer, because these designs are more difficult to counterfeit, whilst also being more durable.
“A large number of these paper notes have now been returned to us, and replaced with the polymer £20 featuring the artist J.M.W. Turner, and the polymer £50 featuring the scientist Alan Turing.
“However if members of the public still have any of these paper notes in their possession, they should deposit or spend them whilst they can.”
The switch to polymer notes has been undertaken for a number of reasons.
The first is that the notes are resistant to dirt and moisture, and thus remain in better condition for longer.
The newer notes also have more detailed security features, making it more difficult for them to be counterfeited.
Finally, polymer notes also have tactile features, allowing blind and partially sighted people to use them.
