Scottish money! legal or not?

#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...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.
 

Sixty

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#4
SO3Paperclips said:
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.

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
rockpile said:
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.
bugger, beat me to it
 
#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.
 
#13
ximmeh1987 said:
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

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
 
#16
Try spending a Northern Bank fiver! It fecking plastic with a picture of the space shuttle on it!!

"Sorry sir, we don't accept euros here."

T C
 
#17
still struggle with bank notes in shops when i return "dan sarf" from gods country.

the "norn iron" plastic fiver also brang funny looks when lived over there.
 
#18
threaders_vm said:
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.
Would've said "that's all I've got"
Find that where I live notes are accepted (lots of squadies and Jock ex-pats about) go to my parents and more often than not they are refused, at least initally.
 
#19
What would be the score if, after being turned away with a Scottish note at a petrol station, you got into your car & drove away? Surely if you've offered payment with UK cash & the shop mong refuses to accept it from you then it can't really be regarded as theft, more acceptance of a gift. Does anyone know the score here? Never actually had this problem myself. :?
 

Auld-Yin

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#20
While the Scotish high street banks can issue bank notes, the English high street banks cannot. The Bank of England not being a high street bank. The reason for this is that a few hundred years ago the English banks were found to be so corrupt that they were banned from issuing notes and the Bank of England formed to take over the central role of looking after the cash. The issue did not happen in Scotland or Ireland so they were permitted to continue issuing bank notes of their own.

There was a time, and I don't know if it is true, that when a Scottish or Irisdh bank printed any notes they had to deposit the equivalent in gold with the BofE. As I say I don't know the veracity of this.

As to using Scottish notes, I recall that it was troublesome in the 60's and 70's but got better in the 80's and 90's. Hope it is not going back the way again.
 

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