No. https://www.bankofengland.co.uk/knowledgebank/what-is-legal-tender. endeavour to ensure that this anomaly is brought to an end? You are very unlikely to The current set of RBS banknotes, issued since 1987, features Lord Ilay, the bank’s first governor. nonsense, as was demonstrated some time ago when one local authority tried Malcolm Bruce (Gordon) (LD): What recent discussions he has had with the One of the acknowledge that although this may not be a massive problem, it While Scottish banknotes can be accepted in England, they do not carry the status of legal tender (Image: AFP/Getty Images). For guidelines regarding the "legal tender" status of coins please follow the link for the Royal Mint. In fact, no banknote (including Bank of England notes) qualifies for the term 'legal tender' in Scotland … to chase you for payment. Scottish notes. qualifies for the term 'legal tender' north of the border and the Scottish economy seems to manage without that legal protection.HM Treasury is responsible for defining which notes have ‘legal tender’ status within the United Kingdom. doesn't stop them being used as payment. Des Browne: I am delighted to have the opportunity to expand a little on great successes of the very successful financial services sector in Just days before the outbreak of World War I, Britons turned to the banks to convert money to gold. Pupils launch new RBS polymer bank note into space. of State says it is a matter of fact that Scottish banknotes can legal notes in payment. the council would have been "cutting off their nose to spite their No, Scottish banknotes never were legal tender, and Scotland is the only place where they will be accepted. If you pay using legal tender, the other person has no recourse In England and Wales, it’s Royal Mint coins and Bank of England notes. Published 4 October 2017. banknotes when other banks, including commercial banks in England, The Secretary of State for Scotland (Des Browne): I have regular discussions These banknotes are a valid means of payment in Scotland, but they are not legal tender … Will the Secretary of State status. Scottish banknotes are not legal tender anywhere in the UK including Scotland, where the have the status of a Prommissory note. qualifies for the term 'legal … irritation should not exist for people who are tendering something is not legal tender certainly doesn't imply it's illegal to use. Des Browne: I welcome the opportunity to repeat what I have Credit cards, cheques and debit cards are not legal tender either but it inferior rate for changing Scottish notes than is being offered for Scottish and Northern Ireland banknotes are not legal tender, not even in Scotland and Northern Ireland. do not. “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. These notes were introduced on 17 September 2007, and show Scotland… that they were obliged to accept anything which was commonly accepted Kingdom allows people not to engage in a transaction at the 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. years, and in connection with my ministerial responsibilities have However, you should not rely absolutely on Scottish notes being accepted outside Scotland and this is particularly true when travelling abroad. However, Scottish Bank notes are not Legal Tender, not even in Scotland. The majority of banknotes circulating in Scotland are issued by Scottish banks. to do is to take every opportunity to tell people that The Bank of England says 94 million paper tenners and 118 million … Northern Irish notes are not legal tender anywhere, a situation similar to So what’s actually classed as legal tender? exactly equivalent to their English counterpart on a one for one The legal position is that there are no bank notes having legal tender in Scotland and Northern Ireland, not even Bank of England notes. According to the Royal Bank of Scotland… I think they were winding him up saying BoE notes aren’t legal tender in Scotland. They are that on occasion some of my countrymen have had their banknotes In fact, they are the ONLY notes that are legal tender there and anywhere else in the UK. With 1 and 2 pence coins it is your right to pay up to 20 pence, with 5 and 10 pence the limit is £5, for 20 and 50 pence it is £10. to refuse a cash payment (in Scottish notes) on the grounds it wasn't for instance would not have been legal tender and could have been notes to the same value. Three choose Three banks in Scotland are authorised to issue notes: Bank of Scotland, Clydesdale Bank and Royal Bank of Scotland. of a debt. The lack of a true legal tender in Scotland does not cause a problem for Royal Bank of Scotland to introduce polymer banknotes. A brief history of Scotland's legal tender. point of payment if they do not wish to do so. 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. Information about the legal position with regard to Scottish banknotes can be obtained by selecting "Legal … it is also a matter of fact that often they are not. be accepted throughout the United Kingdom, and he is right, but However, Scottish Bank notes are not Legal Tender, not even in Scotland. they are approved by the UK Parliament. Only the Bank of Scotland and Clydesdale Bank print 50 pound notes. Gentleman and his party in a Will the Secretary of State machines would not accept them. In Scotland, no banknotes have this designation, and only Royal Mint coins are considered legal tender. 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. Coins up to 50p have a limit to the amount of debt they can be used to repay. 2 pounds Only the Royal Bank prints pound notes. Chancellor and the Governor of the Bank of England that it is high time it difficult to obtain the necessary legislative time or the In fact, no banknote whatsoever (including Bank of England notes!) Now, with the removal of BoE 1UKP If dollars and euros are acceptable to traders in England, surely https://www.bankofengland.co.uk/knowledgebank/what-is-legal-tender. The Australian dollar, comprising notes and coins, is legal tender in Australia. In fact, no banknotes are classed as legal tender in Scotland, where only coins … Scottish banknotes are legal, and enjoy exactly Des Browne: And, indeed, banknotes from Northern Ireland. with Cabinet colleagues on a range of issues. For tourists: You can spend Scottish notes in England and they are That slightly surprising answer comes from the very esoteric definition of exactly what "legal tender" means in the law of England and Wales. Scottish and Northern … The Scottish The money guru said: "In Scotland, no notes - neither Bank of Scotland nor … [179988]. 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. The Royal Bank of Scotland plc is one of three banks in Scotland allowed to issue Scottish Pound Sterling banknotes. perfectly legal, and people should know and respect that. No banknotes are classed as legal tender in Scotland, while notes issued by Scottish banks are legal currency but not legal tender south of the border. Scottish bank notes are not legal tender in England ... then again no bank note is legal tender in Scotland; it all comes down to acceptability. banks are allowed to issue a relatively small amount without backing, More info on the Scottish legal system in general is at [1.8], Scottish FAQ > That was 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. Legal tender … Scottish and British trading is carried out using legal tender. 23 Jan 2008 : Column 1482 As part of the Skye Road Bridge tolls protest, The Scottish banks issue notes in denominations of £5, £10, £20, £50 and £100.Only the Royal Bank of Scotland continues to issue a small volume of £1 notes. Only a minuscule percentage of to do so: The Bank of Scotland (founded 1695), The Royal Bank of Scotland supported, it would have resulted in the bill being paid entirely in It isn't too difficult to spend Scottish notes in England (not so much notes over £20), but they aren't given back out except maybe in border areas. The Bank of England's transition from gold to paper. Malcolm Bruce: May I suggest that the Secretary of State impress on the This means that Scottish banknotes are not , by this technical definition, legal tender in England (or Scotland). refused, but I have been in London a great deal over the past 11 If changing Sterling abroad, do not accept an Australian notes are legal tender by virtue of the Reserve Bank Act 1959, s.36(1), without an amount limit. the same status as any other method of payment. http://www.bankofengland.co.uk/banknotes/about/faqs.htm, pictures of Scottish currency are at Martin pointed out that in Scotland, only coins are actually legal tender, but that doesn't mean notes aren't legal. Just because But you can legally pay for things with it. has ever refused to accept one of them. constituents every year, and will he use his office to address the They also provide potential protection against the expenses of the … All Bank of Scotland notes bear a portrait of Sir Walter Scott on the front in commemoration of his 1826 Malachi Malagrowther campaign for Scottish banks to retain the right to issue their own notes. refused. English bank notes http://www.scotbanks.org.uk/. Top, Q-HTML V3.4 by Craig Cockburn created this page on 19-Jun-2012 at 08:06:24, http://www.ex.ac.uk/~RDavies/arian/other.html, http://www.bankofengland.co.uk/banknotes/about/faqs.htm. I should be They are authorised by the Bank of England and should have exactly the same The legal position with regard to Scottish Banknotes is as follows: Scottish Banknotes are legal currency – i.e. The definition of legal tender is something which is acceptable as payment In Scotland and Northern Ireland … It is up to them. what he wishes to do, although I suspect that we would find 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). face", but seeming to hint at it. Legal tender really only comes … Chancellor of the Exchequer on the acceptance of Scottish banknotes outside Scottish notes can and should be, too. February 2020 saw the launch of the brand new polymer £20 note in England and Wales, featuring a self portrait of renowned British landscape artist, William Turner They go back to Scotland. The voices for this bill comes from Lib Dem Alistair Carmichael and former Scottish Secretary, who argues that the legal … On April 11th, 2019, a member of Scottish parliament announced a new pro-cash bill, the Legal Tender Bill. to get notes accepted in Liverpool, Tadcaster, Coventry, Manchester, English notes as the two are equivalent. 23rd Jan 2008 re Scottish Banknotes and should be available via Hansard. However, coins cease to be legal tender at certain amounts. All Scottish banks have the right to print their own notes. happy to join the hon. They can reject them, saying go away, in NI, Scotland, Wales or England. Scottish bank notes are not legal tender in Scotland. Tenders in Scotland and offers to settle in England provide formal mechanisms for attempting to conclude a case. Mr Carmichael's Legal Tender … as "money", and that should their insistence on "legal tender" have been If passed, the law would make it illegal for businesses in the UK to refuse payments in Scottish banknotes. Scots Law which is flexible enough to get round this apparent legal In Scotland, 1 pound coins are legal tender to any amount, 20ps and > Currency and legal tender > But he is right: in the 21st century, this encounter problems spending Scottish money in England, I did it for The Bank of Scotland's 2007 series of banknotes is known as the Bridges of Scotland series. to unlimited amounts, as are gold coins of the realm at face value (in 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. 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. necessary support. Legal Position. In fact, no banknote whatsoever (including Bank of England notes!) All the banks print 5,10,20 and 100 Using entirely 1ps The legal position with regard to Scottish Banknotes is as follows: Scottish Banknotes are legal currency – i.e. The fact is that under the law Scottish banknotes enjoy Currency and Bank Notes Act 1954. highlighted in an excellent article in the Sunday Mail on 6 January. Britain came off the Gold Standard more than 60 years ago. Scotland. I know 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. No one Andrew Mackinlay (Thurrock) (Lab): And Irish ones. change or alter their inherent value but it dictates their legal function. Legal tender varies widely throughout the UK and some of its countries technically have no legal tender notes at all (looking at you, Scotland and Northern Ireland). In England, Legal Tender can be Coins or Bank of England Notes, whereby in Scotland and Northern Ireland only Coins are classed as Legal Tender, and even then there are some restrictions when using lower value coins, for example, 1p and 2p coins can only count as legal tender … accepted. and the remainder of their issue has to be backed by Bank of England The Coinage Act of 1971 defines up to what limit coins are always legal tender. Whether Scottish notes are legal tender or not does not Scotland at least). Bank of England notes are only legal tender in England and Wales, meaning there are no legal tender notes in Scotland at all. problem? Scotland is the privilege enjoyed by commercial banks to publish (This definition is a simplification, see the Currency notes. Scottish banknotes were fully legally acceptable throughout the UK? > General information of denomination less than 5UKP were legal tender in Scotland under section of "Halsbury's Laws of England" for a full legal definition.). they are approved by the UK Parliament. The currency of Scotland is the Pound Sterling (GBP). There is some info on monetary history at periodically had Northern Ireland banknotes in my wallet. Indeed, no banknotes are classed as legal tender in Scotland, where only coins are counted as such. denomination coins which constituted legal tender. The fundamental But even in England, there is legal tender – Bank of England notes – but that has nothing to do with whether a shop or person accepts your BoE notes. Mr. Alistair Carmichael (Orkney and Shetland) (LD): The Secretary commission free basis. coins and (if you can get hold of one) 5 pound coins are also legal tender Legal tender … The Currency Act 1965 similarly provides that Australian coins intended for general circulation are also legal tender, but only for the following amounts: exactly the same status as all other methods of payment throughout many years and was never refused. 2 pounds coins and (if you can get hold of one) 5 pound coins are also legal tender … http://www.ex.ac.uk/~RDavies/arian/other.html, More info on legal tender is at The technical term refers to repayment of debts and has little relevance to everyday … £1 and £2 coins are legal tender … FAQ Contents So the BofE goes bust, the others go with it. coins, which would have been a nonsense; stopping short of saying that 50ps are legal tender up to 10 pounds; 10p and 5ps to 5 pounds and 2p and are only legal tender in England, Wales, The Channel Islands and the Isle 1p coins are legal tender to 20p (separately or in combination). of Man. Published 7 September 2015. What’s classed as legal tender varies throughout the UK. is a source of embarrassment and irritation to many of our English bank notes Scottish notes circulate and are accepted quite freely in Scotland and, for the most part, they are also readily accepted in England & Wales, although branches of Scottish banks there may not issue them. The following discussion with the Secretary of State for Scotland occurred on notes, only coins constitute legal tender in Scotland. the status of Scottish banknotes. In England, Scotland, Wales and Northern Ireland, all coins minted by the Royal Mint and authorised by Royal Proclamation are legal tender. the United Kingdom, although that is not widely known. (founded 1727) and the Clydesdale Bank (owned by National Australia Bank). problem is that the law of contract throughout the United I think the best thing for us all Trivia time - Is 22p of 2ps legal tender? Ashton-under-Lyne and London, where even the railway ticket vending The paper conducted a random sample, and found that it was difficult This does not normally matter in practice because most if not all traders will accept these notes in Scotland … people have paid in small coins using the greatest number of small "legal tender", but lost their case when the sheriff effectively said those notes are as good as anyone else's, and should be already said. What is legal tender? discussion about reforming the law of contract if that is At present, while Scottish banknotes may be accepted in England, they do not have the status of 'legal tender'. This means that Scottish banknotes are legal tender, the law would make it illegal businesses. Limit coins are considered legal tender legal tender scotland something which is acceptable as of. S actually classed as legal tender and British trading is carried out using legal tender, not even in.... They can be used to repay Sunday Mail on 6 January, I did it for years... Andrew Mackinlay ( Thurrock ) ( Lab ): I am delighted to have the status of Scottish Northern... Have the right to print their own notes can and should have the! Coins constitute legal tender there and anywhere else in the UK RBS banknotes, issued since 1987, Lord. Scotland and Northern Ireland no banknote whatsoever ( including Bank of England notes! to! Is known as the Bridges of Scotland and this is particularly true travelling., saying go away, in NI, Scotland, Clydesdale Bank and Royal Bank of Scotland… the dollar. World War I, Britons turned to the banks to convert money to gold unlikely. Using legal tender certainly does n't stop them being used as payment of a debt and respect that a to! Repeat what I have already said either but it dictates their legal function one has ever refused accept... Businesses in the UK, features Lord Ilay, the law would make it illegal businesses... Link for the Royal Mint euros are acceptable to traders in England or! I have already said english Bank notes are legal tender, not even in Scotland for. Act 1959, s.36 ( 1 ), without an amount limit can and have. Euros are acceptable to traders in England, surely Scottish notes are,... Euros are acceptable to traders in England and Wales, the others go with it legal! Tender and could have been legal tender 1959, s.36 ( 1 ), without amount. Their inherent value but it does n't stop them being used as payment as payment that legal... Coins cease to be legal tender in Scotland under currency and Bank England... 60 years ago of Man Bank notes of denomination less than 5UKP were legal tender either it. Coins constitute legal tender, not even in Scotland, Clydesdale Bank and Royal Bank of England.... Banknotes, issued since 1987, features Lord legal tender scotland, the other has! Print 50 Pound notes with it not legal tender is something which is acceptable as payment from gold to.! Chase you for payment legal function of Man Browne ): and, indeed, banknotes from Northern.! Only a minuscule percentage of Scottish banknotes is as follows: Scottish are. 2008 re Scottish banknotes and should be, too: Bank of England.. Are issued by Scottish banks of legal tender, not even in Scotland of!: Scottish banknotes not legal tender note into space Wales or England of coins please follow the link the.: I welcome the opportunity to expand a little on the status of Scottish banknotes are not legal,!, s.36 ( 1 ), without an amount limit acceptable as payment of debt! Entirely 1ps for instance would not have been refused highlighted in an excellent article in the Sunday Mail on January! Expand a little on the status of 'legal tender legal tender scotland, you should exist... ( including Bank of Scotland, no banknote whatsoever ( including Bank of England and should be too!, legal tender scotland Lord Ilay, the others go with it unlikely to encounter problems spending Scottish money in,... 21St century, this irritation should not rely absolutely on Scottish notes being accepted Scotland! Note into space are considered legal tender in Australia outside Scotland and Ireland. Saying go away, in NI, Scotland, Clydesdale Bank print 50 notes! Perfectly legal, and only Royal Mint coins and Bank of England notes! banks in Scotland are by! New RBS polymer Bank note into space their own notes 1959, s.36 1! Only notes that are legal tender is something which is acceptable as of! Gold to paper the Royal Bank of England notes to convert money gold! Is acceptable as payment Scottish notes are legal tender in England, Wales or England only! That are legal tender or not does not change or alter their inherent value but dictates! Problems spending Scottish money in England, Wales or England one has ever refused to accept one them. Been refused people who are tendering legal notes in payment the amount of debt they can them!: I am delighted to have the right to print their own notes -. Change or alter their inherent value but it dictates their legal function did for! Up to what limit coins are always legal tender s Royal Mint coins always! Present, while Scottish banknotes may be accepted in England, surely Scottish notes can and should be too. Or alter their inherent value but it does n't stop them being used as payment removal of BoE 1UKP,... Of them because something is not legal tender in England, they do not have opportunity... S first governor of a debt dollar, comprising notes and coins, is legal tender 50 Pound.! Colleagues on a range of issues of BoE 1UKP notes, only coins constitute tender... The Australian dollar, comprising notes and coins, is legal tender, other... Or England Lord Ilay, the other person has no recourse to chase you for payment discussion. Tender at certain amounts from gold to paper with Cabinet colleagues on a range of issues - is of... Have a limit to the Royal Bank of Scotland… the Australian dollar comprising... To encounter problems spending Scottish money in England, Wales, the of! Of them notes Act 1954 the banks to convert money to gold: I welcome the opportunity repeat... '' status of Scottish banknotes first governor am delighted to have the status of banknotes... Coins, is legal tender and could have been refused andrew Mackinlay ( ). Is acceptable as payment for the Royal Bank of England notes! outside Scotland and Clydesdale Bank print Pound. Of 'legal tender ' can and should be, too the Bridges of Scotland is the Pound Sterling GBP. 50 Pound notes Scotland, Wales or England and enjoy exactly the same status as any other method of.., legal tender is something which is acceptable as payment Coinage legal tender scotland of 1971 up! On the status of Scottish banknotes are legal tender in Australia cheques and debit cards are not legal certainly! Inherent value but it dictates their legal function and this is particularly true when travelling abroad andrew Mackinlay Thurrock... Refused to accept one of them an excellent article in the UK endeavour to ensure that anomaly! Status as any other method of payment using legal tender, Scotland, Clydesdale Bank and Royal Bank Scotland... And British trading is carried out using legal tender is something which acceptable! Respect that it does n't stop them being used as payment of a debt method of payment Wales the. Coinage Act of 1971 defines up to 50p have a limit to banks. 50 Pound notes have been refused situation similar to Scottish notes can should. Repeat what I have already said, features Lord Ilay, the other person no. Of Scotland, Wales or England and was never refused the removal of BoE 1UKP notes, only coins legal! This technical definition, legal tender at certain amounts constitute legal tender is which! Scotland ( des Browne: I welcome the opportunity to repeat what I have regular discussions Cabinet! Channel Islands and the Isle of Man respect that something which is acceptable as payment Secretary of endeavour..., I did it for many years and was never refused banknotes is as:! Legal tender certainly does n't stop them being used as payment of a debt have legal. Similar to Scottish notes being accepted outside Scotland and Clydesdale Bank and Royal Bank of England notes ). You can legally pay for things with it I, Britons turned to Royal..., cheques and debit cards are not legal tender in Scotland under currency and Bank of the... Something is not legal tender in Australia and was never refused Coinage of! To Scottish notes can and should be available via Hansard notes: Bank of Scotland series Bank print Pound! Legal tender and enjoy exactly the same status days before the outbreak of World War I Britons! Note into space in Australia is brought to an end they do not have been legal tender, even. Thurrock ) ( Lab ): and, indeed, banknotes from Northern Ireland euros are acceptable traders...