Are you prepared for the £1 changeover?

July 25, 2017

With less than 100 days before the old round pound ceases to be legal tender, the clock is ticking. We are urging businesses who are yet to do so, to update their systems and inform their customers ahead of the October 15 deadline.”...

 

To appropriately prepare for the changeover firms are being advised to bank the two different pound coins in separate bags, and to bank their round pounds first, if possible.

 


Finally, firms should encourage customers to spend their round pounds before midnight on 15 October, when the round pound officially loses their legal tender. However, the round pounds can still be deposited into customer’s accounts at most high street banks after October 15.

 

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