UK supermarkets issue cash warning

UK supermarkets have issued a cash warning on old banknotes.

UK supermarkets have issued a cash warning to British customers, informing them that from September 2022, if they use old banknotes, their transactions will not be accepted. The supermarkets include: Tesco, Aldi, ASDA, M&S and Morrisons. 

The warning is due to the change of old  £20 and £50 bank notes, with the Bank of England informing that the public will be able to exchange their old bank notes for new ones after the September deadline.

Sara John, Chief Cashier stated:

“We want to remind the public that from today they only have six months left to spend or deposit their paper £20 and £50 notes.

The Bank of England’s website states: “We have issued new £20 and £50 notes made of polymer. 30 September 2022 is the last day you can use our paper £20 and £50 notes. If you have a UK bank account, the simplest and quickest way to exchange your notes will normally be to deposit them with your bank. The Post OfficeOpens in a new window may also accept withdrawn notes as payment for goods and services, or as a deposit into any bank account you can access with them.”

The news follows a warning issued last month by The European Central Bank on Spain’s current cash limit  a restriction which aims to stop tax fraud. The limit was previously 2,500 euros, but as of last year the limit was lowered to 1,000 euros which is why consumers who wish to pay for a purchase that exceeds 1,000 euros, in any establishment, must pay by card or by transfer.

Thank you for taking the time to read this article, do remember to come back and check The Euro Weekly News website for all your up-to-date local and international news stories and remember, you can also follow us on Facebook and Instagram.