Health Care

Aldi to accept old £1 coin for two weeks after deadline

Aldi to accept old £1 coin for two weeks after deadline

The Post Office is also expected to accept the old coins.

If you still have £1 coins lying about after the deadline there is no need to panic, old coins can continue to be deposited into a customer account at most high street banks in the United Kingdom, but they won't help you if you're short of change for the bus after the cut off date.

That's despite the supermarket giant announcing it has not modified all their shopping trolleys to accept the new tender.

THE old one-pound coin is being phased out completely on Sunday (15) but United Kingdom businesses said they have been given too little time to switch to the new one and many are planning to defy the deadline.

And a number of shops have made a decision to flout the Royal Mint's deadline and will accept the old coins up to two weeks after it stops being legal tender.

It follows a similar announcement by the discount retailer Poundland, which will accept round pounds until 31 October.

Over 1.2 billion of the old coins have been returned in the past six months but around 500 million are still thought to be in circulation ahead of the deadline.

Royal Mint are now encouraging all old pound coin owners to spend, bank or donate their coins before the deadline.

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A trade organisation representing 170,000 businesses has advised its members to continue taking the round coins, because the changeover period has been so short.

A spokesman for the Federation of Small Businesses said: "Shopkeepers will be aware that the Royal Mint has this deadline but at the same time they will not want to let their loyal customers down by saying they can not pay with a round pound if they do not have any other change".

According to data, around one in every 30 round pound coins is a dud with the new £1 coin boasting new security features.

And the switch has raised concern that piggy banks, coin jars and savings could soon be worthless if not spent/cashed in.

So even then you Tesco shoppers only have until October 22nd to use up your old tender.

Consumers who find old pound coins after the deadline can take them to any Post Office branch and deposit them into high street bank accounts.

The coin also has a new design on its tail side, created by 15-year-old David Pearce, who won a competition organised by the Treasury.


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