Thursday, 23 November, 2017

Aldi to accept old £1 coin for two weeks after deadline

Old pound coin GETTYOld pound coins should be spent or traded in at banks building societies or Post Offices
Ben Pena | 11 October, 2017, 20:07

Over 1.2 billion of the old coins have been returned in the past six months but around 500 million are still thought to be in circulation ahead of the deadline.

Aldi said: "We've been ready to accept the new £1 coins since they first came into circulation in March".

"It would help if small firms knew they were allowed a short transition period to collect the old coins if they wish to, and are willing to bank them".

Retailers have been warned that they have just five days until old pound coins are no longer legal tender.

If you still have £1 coins lying about after the deadline there is no need to panic, old coins can continue to be deposited into a customer account at most high street banks in the United Kingdom, but they won't help you if you're short of change for the bus after the cut off date.

"Thanks to an agreement with all United Kingdom high street banks, everyone can deposit old pound coins into their usual high street bank account at their local Post Office branch while visiting us to pay bills, pick up online shopping, collect foreign currency, withdraw cash, deposit cheques or any of the many other reasons to pop in".

However, if you miss the deadline and still have a few old coins in your pocket Tesco has recently announced that it'll be giving shoppers an additional week to spend in store.

Two separate teams of astronomers find evidence of missing Baryonic matter
He said the studies go "a long way" in showing that many of our fundamental ideas about space appear to be right. So the two groups had to find another way to definitively show that these threads of gas are really there.

"After October 15, the 12-sided £1 coin will be the only £1 coin being spent in the UK".

The new coin, of which 1.5 billion copies have been made, is "the safest in the world", said Kevin Clancy, director of the Royal Mint Museum.

The coin also has a new design on its tail side, created by 15-year-old David Pearce, who won a competition organised by the Treasury.

The Post Office said customers can continue to deposit their old round pounds into any of their usual high street bank accounts through any post office - even after October 15 - "until further notice".

While banks and Post Offices will continue to accept your old pound coins, money saving expert-type Martin Lewis explains: "Carting a bag of coins to the bank is a real faff - particularly if there isn't a branch near you".

RBS/NatWest also said it would encourage customers to try to hand in their old coins as soon as possible.

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