JUST four days until the old £1coin is phased out, Retail NI has reminded reminded retailers and consumers to be ready for the October 15 deadline.
Across the UK around 1.2 billion of the old coins have been returned, but an estimated 500 million remain in circulation, while many retailers continue to give out the old £1 coins in change.
Retail NI chief executive Glyn Roberts has urged retailers and consumers to take the deadline seriously.
"This deadline is going to be a challenge given that some multiple retailers have decided to be more flexible and continue to accept the old £1 coin from shoppers after October 15." he said.
“Retail NI’s advice is clear to retailers and is line with what the Royal Mint is advising. Retailers are under no obligation to accept the round £1 coin from customers and should not distribute the round £1 coin after October 15. All round £1 coins should have been banked. However, the round £1 coin can continue to be deposited into a customer’s account at most high street banks and the Post Office”
“Businesses need to ensure all coin-handling equipment is able to accept the new £1 coin. If that equipment continues to accept round £1 coins then they may be at risk of being targeted with counterfeit coins."
Tesco are among the retailers who will continue to accept the old tender past Sunday's deadline.
A Tesco spokeswoman said: "We've been updating our systems ready for the new pound coins, but to help customers who still have the old coins, we'll continue to accept round pounds at our tills and self-service machines for an additional week."
