100 people a day still exchanging old Irish money

Up to 100 people a day are still calling to the Central Bank to exchange old Irish notes and coins three years after the euro was introduced.

The Central Bank estimates that £310 million still has not been returned to the Central Bank, but that figure is gradually falling. In the past year £10 million was returned for exchange.

The Central Bank will take old notes and coins indefinitely, according to its spokeswoman, Ms Elaine Mannix.

"We've noticed a bit of an increase in the past couple of weeks. People are coming from the country to Dublin to do their shopping so they say: 'let's bring the old money with us'.

"We always notice an increase at Christmas or when children are off school. Sometimes it's just a £5 note. Sometimes it's much more. During the summer foreigners visiting Ireland bring their old notes and coins too."

She said people were bringing in the money in all sorts of bags.

"They are finding money everywhere, in old handbags, in old coats, at the back of a wardrobe, or sadly, when an old member of the family dies and they are going through their things. The money is being found in books, in garden sheds and even in the garden as people are turning over flower beds."

She heard of one case where a bulb blew in a table lamp, and when the woman was changing it she found a bundle of notes that her late husband had stuffed into the neck of the lamp.

While it might be surprising to hear that people still have punts, it's baffling to hear that they are still bringing in old 10 shilling notes for exchange. "We still get some of those. They would be worth about 65 cent now," Ms Mannix said.

There is no lower limit on the amount you can exchange with the Central Bank. Up to £500 (€635) in coins will be exchanged immediately, while larger amounts will be forwarded by cheque through the post. Coins must be separated by denomination and bagged.

Up to £3,000 (€3,800) in notes will be accepted over the counter, while larger amounts will be forwarded by cheque.

Alternatively, bank notes can be sent by registered post to the Tellers Section, Central Bank of Ireland, PO Box 559, Dame Street, Dublin 2, and a cheque will be issued by post.

The Central Bank cannot exchange old foreign bank notes, but these can be posted to the central banks in those countries.

However, while Ireland has agreed to take the money indefinitely, other countries have set limits. The Belgian Central Bank and the Luxembourg Central Bank will stop taking coins on December 31st this year but will continue to take notes indefinitely.

"We have no plans to stop accepting old money," said Ms Mannix. "I think we'll be doing it for years."

The Central Bank accepts money for exchange from 10 a.m. to 12.30 p.m. and 1.30 p.m. to 3 p.m. daily, and until 4 p.m. on Thursdays.