Most high street banks are continuing to accept the old £1 coin

two of our collection boxes

The new 12-sided £1 coin was introduced in March 2017 and the old 'round' £1 coin ceased to be legal tender as of 16 October 2017. Many of you have already contacted us regarding what this means for your networks of box holders.

When new coins are introduced and old coins are phased out, there is normally a 'grace period' when banks will accept both old and new coins. We are currently working with our bank to establish how long that grace period will be and what we can do to ensure that we provide simple and clear instructions for our 5,000 dedicated house box co-ordinators and 95,000 box holders across the country.

The old £1 coin can still be banked for the time being

Our bank (Barclays) has confirmed that the old £1 coin can still be banked with them after 16 October 2017. However, we do know that this will come to an end at some point in the future. The Royal Mint will decide when this happens but has not yet confirmed a date.

We have been in touch with other banks, and Santander and The Post Office have confirmed that they are also able to accept the old £1 coin for the time being. It's worth remembering though that when paying in donations at a bank other than Barclays, regardless of what type of coin you're banking, you may be required to pay a small fee.

How to deposit £1 coins

Please bag the old £1 coins separately from the new 12-sided £1 coin so that the bank can deal with them correctly. Please do not mix the coins or the bank will not accept them.

Guaranteeing that every £1 raised is counted 

We understand that collecting and counting the donations from your network and then taking them to the bank is a difficult task and we are truly appreciative of the effort it requires.

As there is no official date when high street banks and The Post Office will stop accepting the old £1 coin, we are advising our supporters to pay in any old £1 coins as soon as possible. This will ensure that every £1 coin donated will go towards bringing positive change to the lives of the vulnerable children and young people we work with.

If you have any questions about how the old £1 coin affects your House Box network, or experience any difficulties with banking these coins, please do get in touch with our friendly Supporter Care team on 0300 303 7000 or at supportercare@childrenssociety.org.uk

We will provide a further update on this page as soon as we receive any further information from our banks as to when they will stop accepting the round £1 coin.

Thank you for your support of The Children's Society.