Thursday, Jun 21, 2007
Let's print some money
BBC News: Bank acts on £5 note distribution
Bank governor Mervyn King said it had £1bn worth of £5 notes in its vault but high street banks did not want them. They found it cheaper to issue £10 and £20 notes and the shortage of "fivers" in circulation led to their "noticeably soiled and scruffy" condition, he said.
But she added that with £100 being the average amount taken out of ATMs at one visit, it seemed "safer" to stock higher denominations, so cutting the number of trips to fill up the machines.
An Average of £100!!!! Who did they ask? Where are these ATMs? I think someone is telling porkies...
Posted by afrobaggie @ 11:21 AM (141 views) Add Comment
3 Comments
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1. autopilotengage said...
Smaller denominations of currency losing favour, inflation 3%? I'm sorry, that doesn't make sense.
2. autopilotengage said...
We'll all be taking wheelbarrows to the bank soon ;-)
3. Big Al said...
The average ATM withdrawal is £55 this well known in the financial industry