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