Increase in limit on Building Societies’ maximum currency transaction size

Treasury has published the Building Societies (Restricted Transactions) (Amendment to the Limit on the Trade in Currencies) Order 2017.

This Order increases the limit set out in section 9A of the Building Societies Act 1997 at which building societies can convert currency from £100,000 to £3 million, in order to better reflect the nature and trading levels of the modern housing market, and help level the playing field between building societies and banks.