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plastic banks notes are coming...you will have to let the banks know how much cash you have stashed....

Why would I have to tell them that? To change it?

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plastic banks notes are coming...you will have to let the banks know how much cash you have stashed....

Why? Perfectly easy to let other people change notes for you in batches etc etc. The bank won't ever know who the money belongs to or where it comes from.

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Why would I have to tell them that? To change it?

I'd imagine the paper money will be phased out...making anyone who has a stash worthless....better to put in all in a bank and make it worthless that way instead.

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It will be years before paper notes are not legal...you just change a few hundred here and there at different branches of your bank...I do agree its something to think about and the logistics of it are a tad tricky..!

Here is one way...pull £300 out and next day pay £300 in :) do that for however long it takes....look a bit odd on your statement but the balance will remain the same and it will only be for one period.

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Paper money won't lose its face value but there will be deadlines after which shops don't have to take it, then banks don't have to take it. The only one that will always exchange it is the BoE.

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We had plastic £5.00 notes in NI. Everybody hated them and I don't even know if they are legal tender now or not - haven't seen one in years.

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Edited by neontetra

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We had plastic £5.00 notes in NI. Everybody hated them and I don't even know if they are legal tender now or not - haven't seen one in years.

Is that what they used to buy their plastic explosives ?

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I've used the Australian notes a lot (and the $10 note in HK) and they are great. No loss if you go swimming, get soaked in the rain, or leave them in the wash. No tearing. No old tatty notes.

What's not to like?

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Had them in other places for ages. I thought they were great. First tried in NZ iirc. Quite a lot of things trialled there. Chip and pin for example.

I actually worked with A burd in Australia whos dad was in charge of the company trying to roll this out across the planet. Anyway . .

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Had them in other places for ages. I thought they were great. First tried in NZ iirc. Quite a lot of things trialled there. Chip and pin for example.

I actually worked with A burd in Australia whos dad was in charge of the company trying to roll this out across the planet. Anyway . .

LOL is he still there - or is he one of those that got into a bit of trouble...

http://www.smh.com.au/national/papers-refute-rba-chief-20120911-25q6x.html

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It will be years before paper notes are not legal...you just change a few hundred here and there at different branches of your bank...I do agree its something to think about and the logistics of it are a tad tricky..!

Here is one way...pull £300 out and next day pay £300 in :) do that for however long it takes....look a bit odd on your statement but the balance will remain the same and it will only be for one period.

Using only physical cash for saving is being made more and more difficult all the time.

If you ever want to do anything with the physical cash you have saved then it's simply not practical to store more than a couple of grand since you face hassle should you try to put a large amount of it into 'the system' - many businesses simply will not allow transactions involving large amounts of physical money - to buy anything. (You'll be asked why you have such a large amount of cash in the first place, what you are planning to do with it and possibly even challenged to prove it is yours - which could lead to confiscation and/or prosecution should the authorities decide not to believe you.)

Cash (and physical assets that you can actually possess like precious metals) simply represent too much freedom for the average pleb to be allowed to have - ultimately the population will be forced to deal only in bank credit whether they like it or not.

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)

Cash (and physical assets that you can actually possess like precious metals) simply represent too much freedom for the average pleb to be allowed to have - ultimately the population will be forced to deal only in bank credit whether they like it or not.

Yes it seems there are forces working both ways...a force one way to hide ones assets and monies from the system in place (by virtually everyone which includes so called law abiding citizens)..another to force people to work within its confines..It really is becoming big brother..its the super rich and criminals(both one and the same ?) who come up with some ingenious ways to circumvent the financial system as it stands.

I really don`t understand bit coins but isn`t that one way...I just get the feeling that`s a bit risky!

I have a small amount of silver coins and also cash. The problem is if you want to make use of the system in place then you have to play the game somewhat. I am going through this at the moment to a certain extent and having to place extra cash in the bank to prove my worth to a government dep`t

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Using only physical cash for saving is being made more and more difficult all the time.

If you ever want to do anything with the physical cash you have saved then it's simply not practical to store more than a couple of grand since you face hassle should you try to put a large amount of it into 'the system' - many businesses simply will not allow transactions involving large amounts of physical money - to buy anything. (You'll be asked why you have such a large amount of cash in the first place, what you are planning to do with it and possibly even challenged to prove it is yours - which could lead to confiscation and/or prosecution should the authorities decide not to believe you.)

Cash (and physical assets that you can actually possess like precious metals) simply represent too much freedom for the average pleb to be allowed to have - ultimately the population will be forced to deal only in bank credit whether they like it or not.

Although when I tried to buy about £800 worth of Euros at the Post Office recently they said their limit was £300 for a debit card. I asked how I could buy them then and they said cash was fine so I walked down to the bank, drew out the cash in £50s and went back and bought the £800 worth of Euros.

I thought that was odd given that the general movement seems to be towards restricting cash transactions. I don't see how it makes sense for the Post Office having to handle great wodges of cash either.

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