TITLE

Decimal Currency

PUB. DATE
February 1971
SOURCE
Accountancy;Feb1971, Vol. 82 Issue 930, p60
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
This article presents reminders to accountants regarding the decimalisation of accounting systems in Great Britain in 1971. All bank branches will be closed on February 11-12 and will re-open on February 15. By D-Day their customers' balances will have been converted to decimal currency, and all checks and credits in the bank pipeline will have been entered. In converting the balances the pound's amount will remain unchanged unless it ends in 19s 11d, in which case it will be rounded up to the pound above. Conversion will be in accordance with the bank and accounting conversion table. Checks paid in the bank after D-day must be expressed in the decimal currency. Any checks drawn before D-day which have not been paid into a bank account should be converted into decimal currency by the customer before their deposit. The customer should use a different color of ink from that already on the check, and should not cross out the original words or figures, but simply write the new figures above the amount box on the right-hand side of the check. Each check must be converted separately. Banks will not accept checks entered in the old style with merely the total converted. On and after D-day banks will not accept, 1d, 3d, or 6d coins except in multiples of 5p.
ACCESSION #
6019571

 

Related Articles

  • Decimal Currency.  // Accountancy;Feb71, Vol. 82 Issue 930, p60 

    This article presents reminders to accountants regarding the decimalisation of accounting systems in Great Britain in 1971. All bank branches will be closed on February 11-12 and will re-open on February 15. By D-Day their customers' balances will have been converted to decimal currency, and all...

  • Decimal Currency.  // Accountancy;Feb1971, Vol. 82 Issue 930, p60 

    This article presents reminders to accountants regarding the decimalisation of accounting systems in Great Britain in 1971. All bank branches will be closed on February 11-12 and will re-open on February 15. By D-Day their customers' balances will have been converted to decimal currency, and all...

  • New Moves by Coinbase, Ripple Advance Digital Money Tech. Reutzel, Bailey // Americanbanker.com;4/29/2015, p1 

    Coinbase, a U.S.-based Bitcoin exchange with many prominent merchant clients, has spread its services into the U.K. where bankers and regulators have been more welcoming of digital currency innovations.

  • NEWLAND ON... NATWEST. Newland, Francesca // Campaign;8/6/2004, Issue 32, p25 

    The author opened her first bank account in the mid-to late 80s. NatWest believes this so strongly that it has commissioned M& C Saatchi to create an ad specifically for students, which will run in cinemas only. Now, advertising to students is no easy matter — unless, perhaps, you are...

  • The Unconverted. J.F. // Accountancy;Feb1969, Vol. 80 Issue 906, p130 

    This article presents an accountant's argument against the decimalization of the British currency by February 1971. He thinks of himself as a typical cross-section of British society, as the median of the mean of the mode of the average man in the street, yet he had rushed up to the platform to...

  • Halal Options for Investment. Jangda, Ayesha Ashraf // Hiba;Mar2012, Vol. 8 Issue 4, p26 

    In this article, the author discusses investment options that are Shariah law compliant. He cites the several types of Islamic bank accounts which include current, saving and fixed or term. He shares that purchasing foreign currency in the form of U.S. dollars, euros or British pounds is another...

  • Sterling On Fire.  // Emerging Markets Monitor;5/25/2009, Vol. 15 Issue 8, p1 

    The article reports on the performance of sterling in the foreign exchange market. It says the fact that the British foreign currency shrugged off bad news indicates further gains. It benefits from the fact that it had been oversold versus the dollar and from the heavy dollar selling against all...

  • Data Briefing.  // Accountancy;Dec2002, Vol. 130 Issue 1312, p121 

    This article presents some statistics related to bank base rates, mortgage rates, and inland revenue rates of interest published in the December 2002 issue of the journal "Accountancy." The article presents a list on value of "sterling" in comparison to other currencies by some date. Value of...

  • BUSINESS BANKING: The business of business deposits.  // ABA Banking Journal;Feb2002, Vol. 94 Issue 2, p42 

    Discusses the results of the 2002 'Community Bank Competitiveness Survey' on issues concerning the role of the business checking account in the business banking relationship. Variation of the sweep concept offered by banks; Payment of interest on business checking accounts; Purpose of analyzing...

Share

Read the Article

Courtesy of VIRGINIA BEACH PUBLIC LIBRARY AND SYSTEM

Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics