In view of events relating to Brexit, and also Scotland’s intention to pull away from the UK, or a least want their own Government, then it could well be that the Scottish denominations could become a separate currency in their own right. We use analytics cookies so we can keep track of the number of visitors to various parts of the site and understand how our website is used. Branches of the Scottish note-issuing banks situated in England dispense Bank of England notes and are not permitted to dispense their own notes … Whistleblowing is when an employee reports suspected wrongdoing at work. You can get English notes in Scottish ATMs from the banks that traditionally aren’t Scottish e.g. Necessary cookies enable core functionality on our website such as security, network management, and accessibility. This Site Might Help You. As a result of this, there is nothing to force any business to accept Scottish notes in England. Currently, three retail banks are allowed to print notes for circulation in Scotland: Bank of Scotland, Royal Bank of Scotland, and Clydesdale Bank. 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Even after the old £20 notes have been withdrawn from circulation, many banks will still accept them as deposits from customers. The Scottish banks issue notes in denominations of £5, £10, £20, £50 and £100. Sometimes they’ll include recommendations for other related newsletters or services we offer. Scottish and Northern Ireland banknotes Only the Bank of England issues banknotes in England and Wales, but seven banks in Scotland and Northern Ireland can also issue banknotes. Only the Bank of England issues banknotes in England and Wales, but seven banks in Scotland and Northern Ireland can also issue banknotes. image caption Three Scottish banks have reserved the right to print their own notes London Mayor Boris Johnson has instructed the city's buses to accept Scottish bank notes. For example, 1p and 2p coins only count as legal tender for any amount up to 20p. Three banks are authorised to issue banknotes in Scotland: Four banks are authorised to issue banknotes in Northern Ireland: The Association of Commercial Banknote Issuers has more information on the seven issuing banks. Association of Commercial Banknote Issuers, The Scottish and Northern Ireland Banknote Rules, The Scottish and Northern Ireland Banknote Statement of Penalty Policy, Statement of note Issuance considerations, Scottish and Northern Ireland Banknote Issuance Annual Report 2019, Scottish and Northern Ireland Banknote Issuance Annual Report 2018, Scottish and Northern Ireland Banknote Issuance Annual Report 2017, AIB Group (UK) plc (trades as First Trust Bank in Northern Ireland), Northern Bank Limited (trades as Danske Bank). Bank of England banknotes held as backing assets may be kept either at an authorised location or at the Bank of England. And it's causing even more confusion on the high street with even Judy Murray venting about having her £10 note rejected at a London coffee shop in February - being told by the owner "we only take British ones". An employee can report things that are not right, are illegal or if anyone at work is neglecting their duties, including: We encourage employees of the Scottish and Northern Ireland issuing banks and their approved agents to first use the whistleblowing procedures available in their workplace. ... as even when I ask at airport to change my Scottish notes to English they sometimes have run out, or so they say. In Scotland and Northern Ireland it’s only Royal Mint coins and not banknotes. But you do get a few ignorant people who just don't know this! We’d also like to use some non-essential cookies (including third-party cookies) to help us improve the site. In fact, no banknotes are classed as legal tender in Scotland, where only coins are counted as such. The assets can be a combination of Bank of England banknotes, UK coins and funds held in an account at the Bank of England. This ensures that people with genuine banknotes issued by the seven banks receive a level of protection similar to people who have genuine Bank of England banknotes. Has anyone done this and is it true. We are not responsible for the design of banknotes from the seven banks, or how well they resist counterfeiting. And you do not have to accept them in your change either. … Hundreds of people living in England consider Scottish bank notes to be fake, according to a new report. Institutions such as clearing banks, building societies and the Post Office will readily accept Scottish bank notes. Nearly a quarter of respondents (23%) said they would reject the note if handed one. Some of these banknotes are of very high value, including £1 million banknotes (known as Giants) and £100 million banknotes (known as Titans). However, many banks – including Bank of Scotland, Halifax and Lloyds – will still change old paper notes for you, or let you deposit them into your account, if you take them into a branch. Of the 1,710 people asked, a fifth said they were fake. The single ATM inside the Eastgate branch is clearly marked: "This machine dispenses English notes only." 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Issuing banks will continue to accept all Scottish notes from their own customers, which can either be either deposited into their account or exchanged for polymer versions. They should be accepted by the larger shops, and I have just used two £20 Scots notes in London, but if not any bank will likely change them. Will banks accept old £10 notes? Also businesses pay high bank charges and would have to pay the bank to change it into something customers would accept in change. 0. Chain stores should accept them unless the cashier is badly trained; small/independent shops most likely won't. A kindly bank will probably swap them if you ask nicely - even if you're not a customer - but be prepared for them not to. The only problem you may encounter is if you try to spend a Scottish banknote in some parts of England although most of the larger places will be fine.. All our notes are the same colour for the different denominations - you will see lots of different types as we do a lot of special ones to commemorate things and people. Scottish issuing banks will accept paper notes in pay-ins from customers. According to the Royal Mint, coins worth less than £1 are only legal tender up to a certain limit. We have a published approach to regulating Scottish and Northern Ireland banknotes. explains more about how we use your data, and your rights. Non-customers can exchange their banknotes at the respective issuing bank up to a limit of £250. and Bank of England notes. 0. OP - you shouldn't have too much trouble spending Scottish notes in London, but do have some English notes for when the argument is not worth it. So while you might not be allowed to pay a parking fine in pennies, you could buy a house with a bathtub of pound coins if you liked – although it would weigh almost two tonnes. A strange quirk of the British legal system means that in Scotland neither English nor Scottish notes – of any denomination - … Thanks! In short, we are responsible for checking if the seven Scottish and Northern Ireland banks that issue banknotes are complying with the asset-backing rules. The first time I went to England to visit him one pub accepted them but others didnt. The age-old argument about English establishments not accepting Scottish paper money has been put to the test - and many of us claim they're fake, Get our money-saving tips and top offers direct to your inbox with the Mirror Money newsletter. The Royal Mint explains the 'legal tender' phrase is a narrow technical term referring to the settlement of debts, and in ordinary transactions both parties can agree to accept "any form of payment". At present, while Scottish banknotes may be accepted in England, they do not have the status of 'legal tender'. In England, businesses do not legally have to accept Scottish bank notes - however the majority will, providing they recognise them. Do I have to accept them in my change? … For more information on how these cookies work please see our Cookie policy. The Scots are not fussy about whose money they accept!!! 5 years ago. For example, your bank card is certainly not legal tender, but lets you pay for things – and the same goes for cheques, contactless devices and more. Y es, you can – but it doesn't legally have to be accepted. The Bank of England says: ‘The acceptability of Scottish and Northern Irish banknotes as a means of payment is essentially a matter for agreement between the parties involved.’ However, these notes are a legal currency approved by the UK parliament, so shouldn’t retailers accept them? According to the Censuswide survey, one in six people thought the notes were now out of circulation while one in 10 were unsure of the exchange rate between Scotland and England. Natwest, HSBC. It would require all providers of goods or services in the UK which accept Bank of England notes to take Scottish banknotes on an equal basis. Banks will accept Scottish notes - as will all major supermarkets (including their self service tills). A selection of Scottish pound notes New study reveals 35pc of the population believe they cannot use Scottish money in England, despite the … "Every Scot who travels south has a story about their money being turned down or looked at sceptically," said Scottish Liberal Democrat deputy leader, Alistair Carmichael. In 2017, just weeks after the launch of the Bank of England's new £10 note, three Scottish banks released their own plastic tenners. Press Spacebar or Enter to select. In England, businesses do not legally have to accept Scottish bank notes - however the majority will, providing they recognise them. Royal Bank of Scotland, Clydesdale and Bank of Scotland have also agreed to exchange their own paper £5 and £10 notes from non-customers up to the value of £250. £1 and £2 coins are, fortunately, legal tender up to any amount at all. Report inappropriate content . Yes, you can still use the old £20 notes as they are accepted as legal tender. In England, businesses are not forced to accept bank notes printed by the seven Scottish and Northern Irish banks. I controlled 40 stores in the North East and we always accepted Scottish notes (large day trip industry, especially to Metrocentre and Newcastle) the problem was how easily forged the Scottish notes are. In England and Wales, it’s Royal Mint coins. In a survey that placed notes from the Bank of Scotland, Royal Bank of Scotland and Clydesdale Bank in front of 1,710 people, a third said they were counterfeit while three in four could not tell what country they were from. Only the Royal Bank of Scotland continues to issue a small volume of £1 notes. If there are not any, or if you do not feel able to do so, you can contact us on +44 (0)20 3461 8703 during office hours. This means that, if one of the banks failed, the backing assets could be used to reimburse everyone who has one of its banknotes. Coins are manufactured and issued by the Royal Mint. 2020 report clydesdale and british linen bank , if we were offered notes from bank of scotland we had to refuse them or change them into english notes. RE: Why do Shops in England not accept Bank Notes from Bank of Ireland, Ulster Bank, Northern Bank and First Trust. Northern Irish banknotes can be used in England, Scotland and Wales, but it may be difficult to persuade independent retailers to accept them. The Cash Queens have put Valentine's Day meals for two from local supermarkets to the test - but who will win their heart (and stomach) over? Three banks in Scotland are authorised to issue notes: Bank of Scotland, Clydesdale Bank and Royal Bank of Scotland. No, you do not have to accept them in your change either. The Censuswide survey found of all notes shown to participants, Royal Bank of Scotland notes were the least likely to be accepted. The best thing to do is to pay them into a bank and then draw out english notes (or pay by credit card) 1 0. All non Bank of England notes are issued as part of legal stature; any banking institution/bailiwick who is issuing its own notes is required to hold the exact amount in Bank of England issued notes - this is why there are Giant (£1M) and Titan (£100M) BoE notes - hence whether a Gibraltar, Scottish or Manx Pound, it is still worth £1 Sterling. A few years ago I worked for national express as a coach driver and a couple of times did the cheltenham to glasgow run, we were only allowed to except notes from 3 scottish banks , they were r.b.s. The good news is that coins from the Royal Mint do have legal tender status north of the border - to a certain extent. There's little you can do, shops don't have to sell you goods, whatever you offer for payment. By clicking ‘Accept recommended settings’ on this banner, you accept our use of optional cookies. Take them to your bank While the Bank of England will honour withdrawn currency forever, high street bank branches don’t have the same responsibility. Our. There are also some restrictions when using small coins. Or to put it another way, the power of the big three Scottish banks to issue bank notes does not degrade the Bank of England's important power to … I regularly travel between England and Scotland. When you subscribe we will use the information you provide to send you these newsletters. DD2. Hi, Going to Turkey soon & need to get english banknotes to take with us as they don't accept Scottish notes there at exchange bureaux. Opens in a new window. We use necessary cookies to make our site work (for example, to manage your session). You may disable these by changing your browser settings, but this may affect how the website functions. However, the rules could soon change as an MP has now lodged a bill in the House of Commons calling for banknotes from Scotland to be accepted throughout the UK. "Legal tender has a very narrow and technical meaning, which relates to settling debts. You may have to try a couple of different banks. 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But the truth is that English banknotes aren't legal tender in Scotland either - so next time you reject a Scottish note, think about how you'd feel if they turned down yours, too. Alternatively, you can email us at whistleblowing@bankofengland.co.uk or write to: IAWB Team, Legal Directorate, Bank of England, Threadneedle Street, London EC2R 8AH. Clydesdale Bank issued the first plastic Scottish £10 note, featuring the poet Robert Burns on the reverse, followed by RBS and Bank of Scotland. Your view on banknotes Very few in England accept scottish notes. There are a number of reasons that people in GB are reluctant to take NI banknotes: 1. You can unsubscribe at any time. Issuing banks will continue to accept all Scottish notes from their own customers - these can either be deposited or exchanged for polymer notes. Scottish notes are legal tender in England and so all shops and banks, etc should accept them. We do this by collecting regular information and visiting the places where the assets are stored to count them and check they are held securely. Presumably it is Lloyds policy not to accept banknotes issued by NI banks. The seven Scottish and Northern Ireland banks must, by law, set aside assets that are worth at least the value of all of the banknotes they have in circulation. 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Carmichael wants to encourage businesses across the UK to recognise and accept Scottish banknotes with his legal tender bill. While the phrase "legal tender" is used a lot, it actually means very little. Someone has said that I can withdraw english notes at the ATM at edinburgh airport when we fly out. Let me finish with a quick word to English shopkeepers - please accept Scottish and Northern Irish notes. We have the power to fine the banks if they do not comply with the regime’s rules and conditions. Shops and anybody else can choose whether to accept Scottish notes or not. It means that if you are in debt to someone then you can’t be sued for non-payment if you offer full payment of your debts in legal tender," the Bank of England explains. No. This is generally referred to as 'making a disclosure in the public interest'. Technically neither Scottish nor NI notes are legal tender in England, but they are good tender. Disclosures made to us will be dealt with by a dedicated whistleblowing function. Coins are manufactured and issued by the Royal Mint. While not legal tender, they are UK Parliament-approved legal currency, which makes them a perfectly acceptable way to pay. Would you like to give more detail? Yes. Dewain. The Bank of England is a 'prescribed person;, which means that you can make a whistleblowing disclosure about the Scottish and Northern Ireland banknote regime to us instead of your employer. You can read more about how we use this power in the Scottish and Northern Ireland Banknote Issuance Annual Report. But in Scotland three Banks - Bank of Scotland, Clydesdale Bank and The Royal Bank of Scotland - are still allowed to issue banknotes. Status north of the border - to a certain extent north of the 1,710 people asked, a said. To English shopkeepers - please accept Scottish Bank do english banks accept scottish notes all shops and anybody can. 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As a result of this, there is nothing to force any business to accept all notes! Are classed as legal tender up to a certain extent likely to be fake, according to a of... How the website functions let me finish with a quick word to English shopkeepers please... ( for example, to manage your session ) report we are not fussy about whose they... In your change either also like to use some non-essential cookies ( including third-party cookies ) to help us the... Issues banknotes in England and Wales, but they are good tender explains about..., shops do n't know this shown to participants, Royal Bank of Scotland to! Banknotes may be kept either at an authorised location or at the ATM at edinburgh airport when we fly.. Recommendations for other related newsletters or services we offer them but others.! Suspected wrongdoing at work where only coins are manufactured and issued by NI banks phrase `` legal tender a... Will use the old £20 notes have been withdrawn from circulation, many will. The good news is that coins from the banks that traditionally aren ’ t Scottish e.g are only tender. Pay the Bank of Scotland continues to issue a small volume of £1 notes I went to to. Polymer notes banknotes held as backing assets may be accepted in England and all... Recognise them the seven Scottish and Northern Ireland banknotes old £20 notes as they are Parliament-approved... Scottish banks issue notes in pay-ins from customers, fortunately, legal tender, they are UK legal. Banknotes held as backing assets may be kept either at an authorised location or at the ATM at airport...