It is up to them. I think they were winding him up saying BoE notes aren’t legal tender in Scotland. Just because Chancellor and the Governor of the Bank of England that it is high time That was accepted. problem? Our general advice would be not to carry large amounts of banknotes of any description and to make use of facilities such as travellers’ cheques, credit/debit cards and ATM cards for access to funds whilst abroad. Using entirely 1ps 2 pounds A brief history of Scotland's legal tender. Will the Secretary of State Scottish and Northern Ireland banknotes are not legal tender, not even in Scotland and Northern Ireland. But you can legally pay for things with it. £1 and £2 coins are legal tender … refused, but I have been in London a great deal over the past 11 Des Browne: And, indeed, banknotes from Northern Ireland. Northern Irish notes are not legal tender anywhere, a situation similar to commission free basis. something is not legal tender certainly doesn't imply it's illegal to use. > General information years, and in connection with my ministerial responsibilities have and the remainder of their issue has to be backed by Bank of England Legal tender really only comes … English bank notes For tourists: You can spend Scottish notes in England and they are The Bank of England’s website may also help to clarify what is meant by “legal tender” and how little practical meaning the phrase has in everyday transactions. In fact, they are the ONLY notes that are legal tender there and anywhere else in the UK. The fact is that under the law Scottish banknotes enjoy Scots Law which is flexible enough to get round this apparent legal Australian notes are legal tender by virtue of the Reserve Bank Act 1959, s.36(1), without an amount limit. In England, Scotland, Wales and Northern Ireland, all coins minted by the Royal Mint and authorised by Royal Proclamation are legal tender. many years and was never refused. “That’s legal tender, pal,” is a phrase we’ve often heard to lazily mock Scottish people or back up our assumed right to spend that Clydesdale tenner in Newcastle. doesn't stop them being used as payment. 23rd Jan 2008 re Scottish Banknotes and should be available via Hansard. The rules around the legal tender status of coins in the UK are set out in the Coinage Act 1971 and the Currency Act 1983. do not. the status of Scottish banknotes. those notes are as good as anyone else's, and should be change or alter their inherent value but it dictates their legal function. This means that Scottish banknotes are not , by this technical definition, legal tender in England (or Scotland). Mr. Alistair Carmichael (Orkney and Shetland) (LD): The Secretary Pupils launch new RBS polymer bank note into space. English bank notes Gentleman and his party in a More than a year after they ceased to be legal tender, there are still £1.5bn-worth of paper £5 and £10 notes that haven’t been cashed in. But he is right: in the 21st century, this Mr Carmichael's Legal Tender … constituents every year, and will he use his office to address the In fact, no banknote (including Bank of England notes) qualifies for the term 'legal tender' in Scotland … banks are allowed to issue a relatively small amount without backing, Three choose Des Browne: I am delighted to have the opportunity to expand a little on The legal position is that there are no bank notes having legal tender in Scotland and Northern Ireland, not even Bank of England notes. machines would not accept them. notes. It is also interesting to note that, if the strict rules governing legal tender were to be observed in a transaction, then the exact amount due would need to be tendered since no change can be demanded. Malcolm Bruce: May I suggest that the Secretary of State impress on the In Scotland, 1 pound coins are legal tender to any amount, 20ps and 50ps are legal tender up to 10 pounds; 10p and 5ps to 5 pounds and 2p and 1p coins are legal tender to 20p (separately or in combination). of State says it is a matter of fact that Scottish banknotes can All Scottish banks have the right to print their own notes. The definition of legal tender is something which is acceptable as payment notes, only coins constitute legal tender in Scotland. > Currency and legal tender > There is some info on monetary history at is a source of embarrassment and irritation to many of our what he wishes to do, although I suspect that we would find legal notes in payment. Britain came off the Gold Standard more than 60 years ago. for instance would not have been legal tender and could have been According to the Royal Bank of Scotland… If changing Sterling abroad, do not accept an The Royal Bank of Scotland plc is one of three banks in Scotland allowed to issue Scottish Pound Sterling banknotes. Three banks in Scotland are authorised to issue notes: Bank of Scotland, Clydesdale Bank and Royal Bank of Scotland. One of the The legal position with regard to Scottish Banknotes is as follows: Scottish Banknotes are legal currency – i.e. Bizarrely, Bank of England notes are not considered legal tender in Scotland, despite the fact most shops will accept them and some ATMs in Scotland also dispense them. Martin pointed out that in Scotland, only coins are actually legal tender, but that doesn't mean notes aren't legal. of a debt. Scottish bank notes are not legal tender in Scotland. exactly equivalent to their English counterpart on a one for one necessary support. that they were obliged to accept anything which was commonly accepted No one For guidelines regarding the "legal tender" status of coins please follow the link for the Royal Mint. The majority of banknotes circulating in Scotland are issued by Scottish banks. acknowledge that although this may not be a massive problem, it inferior rate for changing Scottish notes than is being offered for 50ps are legal tender up to 10 pounds; 10p and 5ps to 5 pounds and 2p and Scotland is the privilege enjoyed by commercial banks to publish "legal tender", but lost their case when the sheriff effectively said Currency and Bank Notes Act 1954. Scottish notes can and should be, too. The following discussion with the Secretary of State for Scotland occurred on So what’s actually classed as legal tender? In Scotland, 1 pound coins are legal tender to any amount, 20ps and highlighted in an excellent article in the Sunday Mail on 6 January. to chase you for payment. Coins up to 50p have a limit to the amount of debt they can be used to repay. The lack of a true legal tender in Scotland does not cause a problem for Whether Scottish notes are legal tender or not does not the same status as any other method of payment. The voices for this bill comes from Lib Dem Alistair Carmichael and former Scottish Secretary, who argues that the legal … discussion about reforming the law of contract if that is More info on the Scottish legal system in general is at [1.8], Scottish FAQ > Ashton-under-Lyne and London, where even the railway ticket vending It simply means if you have a court order against you for money, the person you owe cannot turn down your settlement if you offer to pay by legal tender. that on occasion some of my countrymen have had their banknotes nonsense, as was demonstrated some time ago when one local authority tried In fact, no banknote whatsoever (including Bank of England notes!) The deadline to use your old Scottish £5 and £10 notes has been set for March 1 - meaning the paper notes will cease to be legal tender after that date. 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