Sunday, 17 December 2017

Tesco to accept old pound coins after Royal Mint deadline

pound coins OLD-NEW
LONDON: Tesco has confirmed it will continue accepting old round pound coins after they cease to become legal tender.

The firm will allow customers to pay with the old-style coins for a week after the October 15 deadline imposed by the Royal Mint. It follows a similar announcement by discount retailer Poundland, which will be accepting round pounds until October 31.

A Tesco spokesperson said: “We’ve been updating our systems ready for the new pound coins, but to help customers who still have the old coins, we’ll continue to accept round pounds at our tills and self-service machines for an additional week.”

From midnight on Sunday October 15, the round pound will lose its legal tender status, meaning stores cannot hand out old pound coins as change and can refuse to accept them as payment.

From midnight on Sunday October 15, the round pound will lose its legal tender status, meaning stores cannot hand out old pound coins as change and can refuse to accept them as payment.

People have been urged to rummage through their wallets, coat pockets, piggy banks and sofas so that they can spend them, bank them or give them to charity before this date.

But as well as Tesco and Poundland, a trade association representing small shops has advised its members to continue accepting the round coins to provide a “useful community service” to customers.
A spokesman for the Federation of Small Businesses told: “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 cannot pay with a round pound if they do not have any other change.

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