Banks told 'Get more £5 notes in UK cash machines'

7 December 2009

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If the collection of various British monetarial (yes monetarial) notes were a family, the £5 note would be the shabby teenager, looking dog-eared most of the time, as if it had just emerged from sleeping in a hedge. And if the ATM is the family home, then the fiver treats it as if it were some kind of hotel, very rarely showing its face.

That last bit is the fault of the banks, who don’t put anywhere near as many five pound notes as they ought to, blaming the absence of young Bluey on lack of demand and the fact that the £5 note only lasts for a year before it has to be replaced. By comparison, a £50 note normally lasts for five years or more – probably because most of them are stuffed in mattresses.

The Bank Of England have said they’ll be pressing the major banks to carry more fivers in the New Year, following successful trials undertaken by HSBC and Sainsburys, the latter reporting that they were able to speed up payment processing at the checkout in stores where more of the lowest denomination notes were in circulation.

Will you be happier if it’s easier for you to get your paws on a fiver from your local cash machine? Will the banks comply with the Bank Of England’s suggestion and will they use the reintroduction of the £5 to invent some kind of administrative complication and introduce withdrawal fees? We all know they’re dying to…

TOPICS:   Banking

16 comments

  • Bo
    Who withdraws £5??
  • Rob
    It is true, you don't see as many fivers these days. I've lost count of the number of times I've bought something for less than £5 with a £10 note and been given a load of pound coins as change. Is there a shortage of £2 coins too?
  • Mike R.
    There is something old and wiffy about this story. I suspect they're announcing the same thing twice. Ah yes, a quick bit of Googling says they did this back in February when the BoE increased production of fivers. So, if they've been in increased production since February and yet in December there's still not enough in the cash machines you have to ask where have all those fivers gone? (PS: Barclays stock a machine full of fivers in machines that sit inside the warmth of branches... If you're lucky enough to have a branch)
  • cookie
    The HSBC in Coulsdon has for years been the fabled 'cashpoint that will give out fivers'. This was very handy when we were all in our teens and frequently had less than a tenner in our accounts. I can see no reason why this shouldn't be a widespread thing tbh.
  • Andy
    In response to Rob Where I work fivers are like gold dust, they are very hard to come by on busy days and we nearly always run out of them on a saturday. More fivers in circulation would mean that businesses wouldnt have to keep on giving out pound coins instead of fivers. And as for the £2 coins, I know a lot of people who, when given a £2 coin, put it in a jar as a form of saving for a holiday etc, that wouldnt be the only reason but it could explain some of it.
  • ian
    is this not a sneaky quantitive easing story if even more fivers get introduced dont they normally take coins out to balance the economy, they wont balance it though !!! The british government are devaluing our currency so that what we earn is not what it used to be worth we are at the moment effectively being made into slaves!!!
  • fullmoon
    I noticed my local Barclays cash machine gives £5 note since 2003. Not a lot of people know about it. It only give you £5 if you press Other amount and manually type in 5 in the amount.:)
  • AG
    Lowest denomination note? That'll be the £1 note then.
  • Michael
    Posted by AG | December 7th, 2009 at 12:35 pm Lowest denomination note? That’ll be the £1 note then. ------------- Wrong... they said the Bank of England are suggesting this and the £5 note is the lowest denomination of note produced by the Bank of England... lower ones may be produced by the Scots but they arn't mentioned here :)
  • ButterMan
    "Who withdraws £5?" Students. I've never, ever had a fiver out of a cashpoint, only as change.
  • OFI
    Haven't had the option to withdraw a fiver for years.. Handy on few occasions though I suppose.
  • Simon
    Bring back the £1 note!!!
  • Jack
    £5, feck off. Just make sure £10 are stocked in there. I'm a student, who needs to withdraw a fiver. Often on a night out I need that extra tenner, I end up having to get £20 and spending it all, More 10's - No 5's
  • Jase
    There's a Barclay's opposite Leeds Uni that does £5 notes from the ATM. And there's one outside the library of Huddersfield Uni that does £5 too. But I gotta agree...just stock up on the number of £10's...so annoying when you just need that £5/£7 and they can only dish out £20's.
  • Mike U.
    I remeber the days when you asked for a fiver and got a tenner, when I worked for Barclays the manager always seemed to put tenners in the ATM instead of fivers, bonus day for all the local students Trust some stupid old biddy come in and told us we were being generous otherwise I was going to tell my mates to empty it overnight I hope she's with the worms!!
  • Elizabeth G.
    Mike Unt : Lol very funny.

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