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UK Gives 100 Days to Spend Last £14.5 Billion of Paper Banknotes
The Bank of England said people holding £14.5 billion in old paper banknotes have just 100 days to spend or deposit the money before it becomes worthless. The UK central bank said about 477 million of Britain’s last remaining banknotes printed on paper remain in the hands of the public but will cease to be legal tender after Sept. 30. “The majority of paper banknotes have now been taken out of circulation, but a significant number remain in the economy,” said Sarah John, chief cashier at the BOE. The paper notes are the last of their kind in the UK. The central bank started printing on a plastic-like polymer ... (full story)
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