NI businesses urged to get ready for £1 coin ‘Changeover’

Posted by
info@newrytimes.com
Thursday, August 3rd, 2017
Business, Community

With less than 100 days to go until the old round pound loses legal tender status, Retail NI is encouraging its members, consumers and other businesses that are yet to prepare for the new 12-sided one pound coin, to do so now.

Speaking to Newry Times, Retail NI Chief Executive Glyn Roberts said, “2017 has seen big changes to banknotes and coins and it is vital that local retailers and consumers are aware of the deadline for the old pound coin losing legal tender status.

“Some businesses have waited for this changeover period before upgrading their machines. However, now the time has come. Northern Ireland businesses need to check equipment and communicate with their customers about the change as the October 15th deadline approaches.”

Exchequer Secretary to the Treasury, Andrew Jones MP, said, “We are now reaching the point where there are more new 12-sided pound coins in circulation than round pounds. With less than 100 days before the old round pound ceases to be legal tender, the clock is ticking.”

Article continues below:

CEO and Deputy Master of The Royal Mint, Adam Lawrence, said, “The Royal Mint is very proud to have delivered the new 12-sided one pound coin and ensuring a smooth transition is now our top priority.

“We hope our announcement about the changeover point in July will encourage those businesses who have not yet upgraded their equipment to do so ahead of the October 15th deadline.”

Following this announcement, businesses across the UK are being encouraged to:

  • Upgrade any remaining equipment to accept the 12-sided £1 coin; if their equipment continues to accept round pounds then they may be at risk of being targeted with counterfeit coins; 

  • Bank round and 12-sided pound coins in separate bags; 

  • Bank their round pound coins first, when possible; and 

  • Encourage their customers to spend their round pounds first before the October deadline. 


For more information or if you have a question about the new one pound coin, please visit www.thenewpoundcoin.com or email newonepoundcoin@royalmint.com. 



Would you like to advertise your business on Newry Times and reach thousands of people every day? Contact the Newry Times office on 028 4062 6520 or email Paul: editor@newrytimes.com

Both comments and pings are currently closed.

Comments are closed

-->

This website does not share personal information with third parties nor do we store any information about your visit other than to analyze and optimize your content and reading experience through the use of cookies. You can turn off the use of cookies at anytime by changing your specific browser settings.

We are not responsible for republished content from this blog on other blogs or websites without our permission. This privacy policy is subject to change without notice and was last updated on 16/01/2017. If you have any questions feel free to contact Newry Times by emailing editor@newrytimes.com

Log in