Aldi and Greggs latest big names to accept round pounds beyond deadline

Thousands of shops will continue accept the round pound beyond Sunday’s deadline.

Discount supermarket Aldi and nationwide bakery chain Greggs are the latest big name retailers to confirm they will allow customers to spend the old £1 coins.

They join the likes of Tesco, the UK’s largest supermarket, Poundland and thousands of smaller businesses which will accept the round pound after Sunday – when it technically becomes illegal tender.

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Aldi said: “We’ve been ready to accept the new £1 coins since they first came into circulation in March.

“To make the transition as easy as possible for our customers, we will continue to accept the old £1 coins as payment across our stores until 31 October.”

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Greggs has not said when it will stop taking the round pound as payment.

The round pound is being replaced by the 12-sided £1 coin, which the Royal Mint says is the world’s most secure currency thanks to its design, mix of metals and secret security features.

According to the latest estimates, more than 1.2bn round pounds have been withdrawn from circulation – leaving at least 450 million still in the hands of the public.

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One in 30 old £1 coins is believed to be counterfeit – hence the need to introduce a more secure form of the currency.

The 12-sided coin was introduced in March of this year, having first been announced months beforehand.

Despite this, many retailers say they are still not ready for the change. Many supermarket trolleys, for example, cannot accept the new shape coin.

Councils say they are struggling to convert car park meters and various vending machines will not be ready in time.

The Federation of Small Businesses, which represents about 160,000 firms, said: “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.

“It would help if small firms knew they were allowed a short transition period to collect the old coins if they wish to and are willing to bank them, but not give out to customers.

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“This would provide a useful community service, allowing customers a few weeks to get rid of the final few pound coins in circulation.”

If you haven’t manage to spend or save your old £1 coins by Sunday, then your bank or building society should accept them as cash deposits.

Similarly, major Post Office branches will be able to handle them, again as part of a deposit into your bank account.