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I live in England and have just found an envelope with old paper Canadian money in it for value $405 (in various denominations). Is there any way I can change it to new notes whilst in the UK? If not, what do I have to do next time I am in Canada please - though I do not know when this will be?

Thanks for any help you can provide.

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If you want to keep it in Canadian currency, the best bet is to wait until your next trip to Canada. Assuming this money is from the last series of paper notes that was retired a few years ago, there should be no issue with spending it at most stores or establishments. (Some may resist taking it, but most won't.) If it's a prior series, you may have more issues.

If you like, you can go to any Canadian bank and they will exchange the notes to modern ones for you. This may take a few minutes as they use technological methods to verify that the bills are genuine.

If you want to deal with this locally, your best bet is going to be to convert them to sterling at a currency exchange house, or to swap them with a traveler from Canada, but in the latter case, unless the traveler knows and trusts you, there may be a resistance to cooperate as there is some risk with obsolete notes.

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Similar question. All Canadian banknotes issued since 1935 are legal tender. There should not be an issue converting them to GB Pounds at any currency exchange shop or your local bank; see who is giving the better rate after accounting for any fees. Nor will you have much trouble using them in Canada (see earlier question). It's possible you are asking how to trade old Canadian notes for new Canadian notes (why?), and I do not know how you would do that.

  • Your link to the bank of canada seems to fail out with a 404 error. – origimbo May 7 '18 at 19:17
  • In England, I could not exchange old English currency (less than 5 years old - ten pound note and one pound coins) at a bank unless I had an account there. This is not the case in Canada and the OP may not believe a Canadian bank would help. – Kate Gregory May 7 '18 at 19:26
  • That FAQ seems to have vanished, link updated to news story that $25, $500, and $1000 bills may be demonetized. All are worth more than face to collectors anyway. – Andrew Lazarus May 7 '18 at 20:03
  • In my answer to the linked question, I mention that I did have trouble spending 1979 banknotes in 2016. A shop refused to take them. However, a bank was willing to exchange them. – Nate Eldredge Aug 24 '18 at 13:57

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