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Why is the £50 note rare & barely used? (lemmy.world)

submitted 1 day ago* (last edited 15 hours ago) by War5oldier@lemmy.world to c/askuk@feddit.uk

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Like, what’s the point of its existence when that denomination is difficult to come by since ATMs don’t disperse them. I mean, will they still refuse a £50 note when paying for a £45 purchase? They go full counterfeit detection mode just because an individual has it despite that being the real one (not fake). Also, why does the Bank of England keep printing more of that when they know people barely use it anyway?

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[–] twinnie@feddit.uk 0 points 23 hours ago (1 children)

There’s actually also a few notes of huge denominations like £100,000,000, they’re kept in banks and never enter circulation. I recall it’s something to do with issuing Scottish and Northern Ireland notes, those ones that are still pounds but are issued by places other than the Bank of England.

[–] BeardedGingerWonder@feddit.uk 1 points 18 hours ago

It's real money, honest.