Scottish money! legal or not?

Discussion in 'The NAAFI Bar' started by Hairy-Sporran, Dec 28, 2007.

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  1. at the Sporran household today in chilly poridge wog land, reading the Scottish Herald, a journal of some repute.
    It, has an article calling for Scottish bank notes to be given legal status in the rest of the UK and worldwide.
    I was always told they already are, so does anyone know? and, what do I do with my pocket full of "monopoly" when I return to work, deep in Englandshire next week?

    http://www.theherald.co.uk/politics/news/display.var.1929648.0.Call_for_Scottish_banknotes_to_be_legal_in_England.php
     
  2. I've always been under the impression that it was legal cos it had 'Sterling' written on it.

    Collect as many new pound notes as possible and flog them on flea bay!
     
  3. It is legal tender, but you don't have to accept any legal tender. If I try to pay for my new car in coppers they probably won't accept it, for example.
     
  4. Sixty

    Sixty LE Moderator Book Reviewer
    1. ARRSE Cyclists and Triathletes


    No it isn't, not even in Scotland. It's accepted by tradition rather than requirement.
     
  5. Most of the Scottish Notes are accepted but I seem to remember something about Clydesdale Bank and there being problems with their notes
     
  6. Notes drawn on Scottish banks do not have to be accepted in England & Wales. However, you do have to be a bit of a pedant not to but there are some about. The RBS will always change them for B of E ones. There is a limit on how much has to be accepted in coins in England & Wales.
     
  7. seems from the banking cnut in the paper that they are in the eyes of banks UK wide only acceptable in war times, and as for Clydesdale, anyone who seriously carries notes with name of a horse on it into a real shop/ pub/ what have you deserves the derision they get
     
  8. bugger, beat me to it
     
  9. they are approvedtender not legal, same as the NI notes. think the limit on copper purchases is 22p
     
  10. I tried paying for petrol with a Scottish £20 at a filling station in England just before Christmas. Money was refused with cashier saying it wasn't legal tender! Had to pay by card instead.
     
  11. The short answer is that both Bank of England notes and bank of Scotland notes are "promisary notes", like a cheque. the theory being that when you present a BoS note to a merchant, that the BoS promises to give that vendor the value of the note.

    Same for the BoE - check out the detail on any note " Promises to pay the holder etc"

    We don't have legal tender in this country.

    In real life of course cash is cash and any bank will honour a BoS note.

    The problem comes down to when you are dealing with some undereducated mong in a shop that doesn't know the deal.

    Oh and also Members of the Scottish Parliament as quoted in the article who also don't know the law. What a mong, you would have thought he would get a researcher to google this before he shot his mouth off.
     
  12. As a till monkey back in the day the general rule was aslong as the note said "sterling",which it does, it is legal tender :p
     

  13. back in the day how old are you in this WALT pic, sorry comments valid but come on you look about 12
     
  14. A mate of mine owns a shop and he tells me that you're not obliged to accept payment in coppers of more than 49p.

    A well-known nightclub in London refused my Ulster Bank notes, yet on a night on the piss in Milan, I was told "Qua, soldi è soldi" ("You know, money is money")
     
  15. In theory Scottish Bank issued notes do not even consitiute "Legal Tender" in Scotland. Coins are all issued by the Royal Mint - there are no Scottish specific coins- so they are are the only Legal Tender in Scotland.

    In practical terms it all works though but always found it better to change the McPounds for "real" ones before leaving or at a bank in England. You trying paying for that last round in a Sarf London pub with a large denomination McPound Note