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to be shocked it is not possible to cash a 500 euro note in UK

(22 Posts)
covilha Thu 04-Apr-19 19:04:54

I have a 500 Euro note - I never thought it would be an issue to change it, yet my Bank says no one will accept it or even change it for Euro notes or equivalent denominations. As they are legal tender am I being unreasonable to be taken aback by this? I have been with the same Bank for 25 years. Or is this some new manifestation of anti Brexit sentiment? Thank you

00100001 Thu 04-Apr-19 19:06:40

They're not legal tender in the uk

PlainSpeakingStraightTalking Thu 04-Apr-19 19:06:46

The Euro is not legal tender in the UK. We have Sterling. And even that can be country specific Ie Scotland.

00100001 Thu 04-Apr-19 19:07:09

Take it to a bureau

ShiveringCoyote Thu 04-Apr-19 19:07:22

Could you try lodging it in your bank account? I know in Ireland shops can refuse them but banks will accept them.

ElloBrian Thu 04-Apr-19 19:08:08

Have you tried a professional bureau de change?

Lazypuppy Thu 04-Apr-19 19:08:08

But its not legal tender in the UK...

dementedpixie Thu 04-Apr-19 19:08:26

You could pay it into a bank account at the current exchange rate. Or exchange at a bureau de change for sterling

SouthernComforts Thu 04-Apr-19 19:09:35

I'm surprised a bureau won't exchange it.

PocaMiseria Thu 04-Apr-19 19:10:42

I live in the Eurozone and shopkeepers here won't touch them despite them being legal tender. I don't think I've ever seen one, much less had one in my possession.
Even 200€ notes are something of a rarity (although probably more common in a country like Germany where cash is king.)

TeenTimesTwo Thu 04-Apr-19 19:11:01

The problem is that 500 Euros is a lot of money.
People in the UK just won't be familiar enough with them to know if they are forgeries. I've never seen a £100 note and that is worth considerably less, and have only ever seen a £50 on very rare occasions.

TheQueef Thu 04-Apr-19 19:11:54

Too many forgeries in circulation don't forget our biggest sterling note is worth a tenth of that.

sirfredfredgeorge Thu 04-Apr-19 19:12:10

As they are legal tender am I being unreasonable to be taken aback by this?

But they're not legal tender here, and the high risk of counterfeit and the tight links to money laundering means it's very sensible for banks not to accept them. I'd say it's a sensible policy and nothing to do with Brexit.

PatriciaHolm Thu 04-Apr-19 19:13:03

You should be able to change it at a bank,though exchanges are now forbidden to issue them due to their prevalent use in money laundering.

HundredMilesAnHour Thu 04-Apr-19 19:13:28

It's nothing to do with Brexit and everything to do with the 500 Euro note being the criminal's note of choice. They're actually no longer issued for this reason (although old ones remaining in circulation are still legal tender).

Some suggestions here on how to get rid of it:

www.independent.co.uk/travel/news-and-advice/money-talks-what-to-do-when-lumped-with-a-500-note-8390769.html

covilha Thu 04-Apr-19 19:14:00

Thanks for the replies everyone. the Bureau de change did change my other monies but said I would have to take the 500 euro note to my Bank. I had not anticipated any issue there as I do all banking (mortgage/ insurance etc) through them but they said they would not accept it or even change it into Euro notes of smaller denominations. I never anticipated any difficulty getting it changed as Euros are so stable-though I take your point that we cannot use them as currency in the UK

mclaleli Thu 04-Apr-19 19:14:57

As they are legal tender am I being unreasonable to be taken aback by this?

But we don't spend Euros in the UK, we use pounds.

Or is this some new manifestation of anti Brexit sentiment?

Eh?

00100001 Thu 04-Apr-19 19:15:49

How did you get a €500 note??

covilha Thu 04-Apr-19 19:17:58

HundredMilesAnHour - Thanks for the link. I will see if I can cash it on my next visit to the Euro zone

kalopali Thu 04-Apr-19 19:22:20

As the OP isn’t trying to settle a debt then it’s status as legal tender or otherwise is completely irrelevant. I’m surprised you can’t change it at a bureau de change though.

PabloTescobar Thu 04-Apr-19 19:25:36

Are you anywhere near London? This place change them for a price. www.thomasexchange.co.uk/buyback.asp

covilha Thu 04-Apr-19 19:31:08

Thanks Pablo Tescobar- their website says will exchange it, for a percentage. I may wait until I am next in Germany

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