LUNN Poly is urging the general public to carry out a final search
out any old currency they still have from countries that have adopted the Euro.
Old notes and coins from Belgium, Austria, Finland, France,
Luxembourg, Italy, the Netherlands, Greece, Portugal, Ireland, Germany and Spain
will be formally abolished by February 28 at the latest.
Although it will still be possible to change old currencies
for sterling after February 28, it is expected the exchange rate will suffer
and transactions could take considerably longer to complete.
Tui UK financial services director Mark Smith said: “Changing
Euroland currencies after February 28 will be a more complicated process as a
result of the additional administration required to make the exchange some
banks and bureaux de change will choose not to exchange the currencies after
that date. Although coins cannot be changed back to sterling these can be put
to good use as many banks and building societies are collecting the coins for
charities.”