Originally Posted by
MADPhil
Note that the Post Office will only exchange GBP300 in a two year period for any individual, should you choose that route. It is estimated that there is about eighteen billion pounds in old money out there - no wonder they are making it hard to exchange it.
This thread just aggravates me every time I see it. I understand the incentives for BoE to maximize its seigniorage but it's beyond obnoxious to make it so difficult to exchange money that was widely accepted just a few years back. And it's not like the 20 notes are the choice of money launderers.