Yes, a shop or business in the UK can legally refuse a £50 note, as they are not obliged to accept any specific form of payment for goods or services, even though it's legal tender for settling a debt; they can set their own payment policies, like preferring card payments or refusing large notes for small purchases. "Legal tender" applies to settling debts, not general retail transactions, so they can turn you down for a packet of sweets with a £50 note.
Is it legal to refuse cash? In the UK it is not illegal for businesses to refuse cash as payment and, in the same breath, it's not illegal for them to refuse card payments, either. The only situation where this isn't the case is when a business is accepting payment for a debt.
This note replaces our paper £50 note which was withdrawn from circulation after 30 September 2022. You may be able to deposit withdrawn notes at your own bank or with the Post Office. Alternatively, you can exchange withdrawn banknotes with selected Post Office branches or with the Bank of England.
Many self-service checkouts do not accept £50 notes due to concerns about counterfeiting and the need for high-value change. However, some newer machines, especially in supermarkets like Tesco, Sainsbury's, and Asda, do accept them, particularly if they have updated banknote validators for polymer notes.
Yes, there are £100 notes in the UK, but they are issued by Scottish banks (like Bank of Scotland, Royal Bank of Scotland, Clydesdale Bank) and some Northern Irish banks, not the Bank of England, which stopped issuing them in 1945. These notes circulate alongside Bank of England notes and are legal tender, though they are less common in England.
After 30 September 2022, these paper notes will no longer be legal tender, so we encourage people to spend them or deposit them at their bank ahead of this date. The polymer £50 note contains advanced security features, completing our most secure set of Bank of England polymer banknotes yet.
It is not illegal to keep cash at home in the UK, but it should be stored securely to mitigate risks. The amount of cash to have on hand varies, but a small amount for emergencies is recommended while keeping most in a secure bank account.
The UK is rapidly moving towards being a low-cash, but not fully cashless, society, with digital payments dominating, yet cash remains crucial for millions, especially vulnerable groups, leading to government efforts to protect access via legislation, banking hubs, and ATMs, even as some businesses go card-only and digital ID plans emerge. While cash use has plummeted (less than 10% of payments in 2024/25), the Bank of England and officials stress that a completely cashless system isn't feasible or desirable yet, focusing on maintaining choice and access for everyone, including the elderly and low-income individuals.
The fifty pound coin (£50) is a commemorative denomination of sterling coinage. Issued for the first time by the Royal Mint in 2015 and sold at face value, fifty pound coins hold legal tender status but are intended as collector's items and are not found in general circulation.
To put it abruptly, yes, shops in the UK can legally refuse cash payment. While cash is considered a legal tender, businesses have no legal obligation to accept it and have the right to set their own payment policies.
Yes. You can exchange up to £300 of paper banknotes in any £5, £10, £20 and £50 denominations of the last series at participating branches within any two-year period. Our system will let you know if you've reached the £300 limit.
Bank of England £1,000,000 notes, also referred to as Giants, are non-circulating Bank of England sterling banknotes that were used to back the value of Scottish and Northern Irish banknotes in 1948. They were cancelled after six weeks, and only two are known to still exist.
Zimbabwe 100 Trillion Dollar Note: A symbol of hyperinflation, rare due to its astronomical face value. 1891 U.S. Red Seal $1,000 Bill: Known for its unique design and limited circulation.
The pound sterling banknotes in current circulation consist of Series G Bank of England notes in denominations of £5, £10, £20 and £50. The obverse of these banknotes issued through 4 June 2024 feature the portrait of Elizabeth II originally introduced in 1990.
Is It Illegal To Pay Cash in Hand? The short answer is no—cash-in-hand payments are not illegal. However, things can get complicated if the right legal procedures aren't followed. While paying employees in cash may seem easy, employers and employees must ensure compliance with tax and employment laws.
£50. The current £50 note features Alan Turing. We began issuing banknotes featuring the King's portrait on 5 June 2024, with no other changes to existing designs. Banknotes that feature the portrait of Her late Majesty, Queen Elizabeth II remain legal tender and are co-circulating alongside King Charles III notes.
