What would happen to my cash if pound changed to euro?

[Pulse]

Just out of interest, what happens to the money in your bank account if the pound changed to euro?

[sinizter]

Changed at the the currency exchange rate by your bank ?

[nevbadger]

It won't happen in the UK in the foreseeable. Don't worry.

But if it did the exchange rate is fixed long before the changeover date so you get plenty of warning but can't do anything about it.

[Pulse]

nevbadger said:

It won't happen in the UK in the foreseeable. Don't worry.

But if it did the exchange rate is fixed long before the changeover date so you get plenty of warning but can't do anything about it.

Ah, so that's the moment you go out and blow it all on stuff!

[Beardy10]

I'd say it won't ever happen after with what we're seeing now. The interesting dynamic when the Euro was created was all the "undeclared cash" had to buy assets (mostly property) before conversion...or else it was worth nothing.

[Hugo a Gogo]

lots of horses, boats, cars, 2nd houses etc bought in Ireland at the time of the changeover

[Beardy10]

Hugo a Gogo said:

lots of horses, boats, cars, 2nd houses etc bought in Ireland at the time of the changeover

Ireland doesn't have a big black economy does it

[mcflurry]

The currency becomes a denomination of the euro, in the same way as 100 pennies make up a pound (rather than 240 old pennies)

13.7603 schillings, 40.3399 francs, 2.20371 guilders, 1.95583 marks etc did the same a decade or so ago

Edited by mcflurry on Tuesday 1st June 15:23

[Pulse]

So my best bet would be to whack it all into the mortgage?