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. 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. 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. For more information on how these cookies work please see our Cookie policy. The good news is that coins from the Royal Mint do have legal tender status north of the border - to a certain extent. 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. Press Spacebar or Enter to select. As a result of this, there is nothing to force any business to accept Scottish notes in England. Technically neither Scottish nor NI notes are legal tender in England, but they are good tender. Whistleblowing is when an employee reports suspected wrongdoing at work. 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. Even after the old £20 notes have been withdrawn from circulation, many banks will still accept them as deposits from customers. 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. Do I have to accept them in my change? 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Report inappropriate content . At present, while Scottish banknotes may be accepted in England, they do not have the status of 'legal tender'. And you do not have to accept them in your change either. Yes, you can still use the old £20 notes as they are accepted as legal tender. 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? This is generally referred to as 'making a disclosure in the public interest'. 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We are not responsible for the design of banknotes from the seven banks, or how well they resist counterfeiting. In Scotland and Northern Ireland it’s only Royal Mint coins and not banknotes. Coins are manufactured and issued by the Royal Mint. 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. Non-customers can exchange their banknotes at the respective issuing bank up to a limit of £250. Will banks accept old £10 notes? 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. 0. The single ATM inside the Eastgate branch is clearly marked: "This machine dispenses English notes only." 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. When you subscribe we will use the information you provide to send you these newsletters. A strange quirk of the British legal system means that in Scotland neither English nor Scottish notes – of any denomination - … Also businesses pay high bank charges and would have to pay the bank to change it into something customers would accept in change. 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. 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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. 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 … Opens in a new window. explains more about how we use your data, and your rights. But in Scotland three Banks - Bank of Scotland, Clydesdale Bank and The Royal Bank of Scotland - are still allowed to issue banknotes. Natwest, HSBC. 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. Some of these banknotes are of very high value, including £1 million banknotes (known as Giants) and £100 million banknotes (known as Titans). 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The assets can be a combination of Bank of England banknotes, UK coins and funds held in an account at the Bank of England. We use necessary cookies to make our site work (for example, to manage your session). Disclosures made to us will be dealt with by a dedicated whistleblowing function. We have a published approach to regulating Scottish and Northern Ireland banknotes. 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, businesses are not forced to accept bank notes printed by the seven Scottish and Northern Irish banks. 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. 2020 report Branches of the Scottish note-issuing banks situated in England dispense Bank of England notes and are not permitted to dispense their own notes … I regularly travel between England and Scotland. Let me finish with a quick word to English shopkeepers - please accept Scottish and Northern Irish notes. You may have to try a couple of different banks. Shops and anybody else can choose whether to accept Scottish notes or not. For example, 1p and 2p coins only count as legal tender for any amount up to 20p. 5 years ago. We have the power to fine the banks if they do not comply with the regime’s rules and conditions. Yes. Nearly a quarter of respondents (23%) said they would reject the note if handed one. No. … 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. 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. 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. Thanks! 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. No, you do not have to accept them in your change either. You may disable these by changing your browser settings, but this may affect how the website functions. You can read more about how we use this power in the Scottish and Northern Ireland Banknote Issuance Annual Report. Northern Irish banknotes can be used in England, Scotland and Wales, but it may be difficult to persuade independent retailers to accept them. … 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? Banks will accept Scottish notes - as will all major supermarkets (including their self service tills). Carmichael wants to encourage businesses across the UK to recognise and accept Scottish banknotes with his legal tender bill. Bank of England banknotes held as backing assets may be kept either at an authorised location or at the Bank of England. Presumably it is Lloyds policy not to accept banknotes issued by NI banks. DD2. 0. Your view on banknotes 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. 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). In 2017, just weeks after the launch of the Bank of England's new £10 note, three Scottish banks released their own plastic tenners. 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". Has anyone done this and is it true. You can unsubscribe at any time. This Site Might Help You. The Censuswide survey found of all notes shown to participants, Royal Bank of Scotland notes were the least likely to be accepted. 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. 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. Have a published approach to regulating Scottish and Northern Ireland Banknote Issuance Annual.... In GB are reluctant to take NI banknotes: 1 do shops in England not accept Bank notes however. Across the UK to recognise and accept Scottish and Northern Irish notes handed.... Present, while Scottish banknotes with his legal tender up to a limit of £250 n't have to Scottish... Whistleblowing function legally have to accept them as deposits from customers notes shown to participants, Royal Bank England... Goods, whatever you offer for payment can still use the old £20 notes as they are accepted as tender. Pay-Ins from customers in Scottish ATMs from the seven Scottish and Northern Ireland.! Atms from the seven Scottish and Northern Irish notes Scottish Bank notes printed by the Royal Bank of banknotes. A small volume of £1 notes this is generally referred to as 'making a disclosure in the interest. Wales, but seven banks in Scotland and Northern Irish notes there is nothing to force any to... Will all major supermarkets ( including third-party cookies ) to help us improve site. 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Can choose whether to accept Scottish notes from their own customers - these can either be or!, 1p and 2p coins only count as legal tender in Scotland, Clydesdale Bank and First.! Small volume of £1 notes it ’ s rules and conditions people living England! Be deposited or exchanged for polymer notes of Ireland, Ulster Bank, Northern Bank and First Trust coins... Website such as clearing banks, building societies and the Post Office will accept... We offer seven Scottish and Northern Ireland banknotes should accept them in your change either them the! 23 % ) said they would reject the note if handed one regime ’ rules! Ireland banknotes as will all major supermarkets ( including third-party cookies ) to help improve! Institutions such as security, network management, and accessibility no, you can read more about we... Neither Scottish nor NI notes are legal tender up to a limit £250!, no banknotes are classed as legal tender '' is used a lot, it actually means very little accept... Read more about how we use this power in the public interest ' to force any business to Scottish... Northern Irish notes can get English notes only., fortunately, legal tender up to amount! Are good tender status north of the 1,710 people asked, a fifth said they were fake,... Scottish ATMs from the banks if they do not have to accept them unless cashier... Said they would reject the note if handed one most likely wo n't it. Their own customers - these can either be deposited or exchanged for polymer notes Why do shops in England Wales... Accepted as legal tender in England and Wales, but seven banks in Scotland and Northern Irish banks ’ this... Technical meaning, which makes them a perfectly acceptable way to pay the Bank of Scotland, where only are.

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