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MARTIN Lewis’ MoneySavingExpert has issued a warning over old stamps before millions become worthless.
Royal Mail is replacing all current stamps with new style designs by July 31 and if you keep using them after this date, you could be charged a fee.
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The team at MoneySavingExpert (MSE) has warned that all 1st or 2nd class stamps with the Queen’s profile on them will be invalid from August 1.
If you continue to use old stamps after the end of July, you could face a surcharge in the same way that you would if you sent mail with no or insufficient postage.
Royal Mail has said that the full details of this charge will be issued nearer to the deadline next month.
The only valid designs from August will be those with new barcodes on them, featuring King Charles’ image.
Alternatively, you can swap your old ones for barcoded versions for free through the Royal Mail scheme.
Royal Mail said that every barcode will be unique and will enable the introduction of added security features – including information about relevant postal services.
Although, not every stamp will become invalid, some limited edition versions will still be valid, according to MSE.
It said: “You don’t need to use or exchange Christmas stamps or ‘special’ stamps with pictures on, as they will continue to be valid after the July 31 deadline.
“Royal Mail has also confirmed that all King Charles III stamps in circulation have barcodes on them, so it’s only the non-barcoded ones with the Queen’s profile on that you need to swap.”
The initial deadline to swap out all of your old stamps was back in January, but Royal Mail opted to extend this to give customers more time.
Below we reveal how you can exchange your old stamps for barcoded versions and how much stamps cost.
What can I do with my old stamps?
Stamps can be traded in before the cut-off deadline – and Royal Mail will let you do it for free.
Customers will have to fill out a “Swap-Out” form on Royal Mail website or call the postal giant directly to request a form.
Alternatively, you can get one in person from a local delivery office – but not a Post Office.
You can find your local delivery office by using the online locator tool on the Royal Mail website.
You’ll then have to post back the stamps you want to swap to a Freepost address.
But if you have more than £200 worth of stamps, Royal Mail recommends these are sent by recorded delivery.
And you’ll need a Bulk Stamp Swap Out form for stamps worth more than £200.
There’s currently no deadline on when you need to complete the swap by, but it might be best to do so sooner rather than later in case the scheme closes.
Royal Mail says it will try to make sure all stamps are swapped in seven working days.
How much do stamps cost?
In April, Royal Mail hiked the price of first class stamps by 15p to £1.10.
The price of second class stamps has jumped by 7p to 75p.
These changes have been subject to careful consideration by Royal Mail in light of the 25% drop in letters being sent since the pandemic.
Increasing costs and high inflation rates are also to blame for the price hikes.
Royal Mail charges different postage prices depending on the size or weight of the item.
The stamps can be bought individually if you buy it at a Post Office counter.
Otherwise, you can typically buy them in sets of multiple stamps.
First class stamps are more expensive than second class, as they will get your letter to its destination faster.
The cost of a first class stamp is now £1.10 for a standard letter.
A book of eight first class stamps costs £8.80 from Royal Mail.
A second class stamp for a standard letter costs 75p.
Meanwhile, Martin Lewis has issued an urgent holiday warning to anyone using a debit card abroad.
Plus, a woman has shared how Martin Lewis helped her save £600 on airport parking fees.
Do you have a money problem that needs sorting? Get in touch by emailing money-sm@news.co.uk.
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