Changing Scottish Notes

[BCNGUIRI]

Anybody have any problems? I had to visit 5 banks before finding one that would accept them! Does anybody know if banks that offer exchanges can legally refuse to accept sterling just because its issued by Scottish banks?

[Alcalaina]

Interesting - I just checked this and they aren't actually legal tender! So I guess Spanish banks are able to refuse them.

Wikipedia says this: "Scottish and Northern Irish banknotes are unusual, firstly because they are issued by retail banks, not central banks, and secondly, as they are not legal tender anywhere in the UK – not even in Scotland or Northern Ireland – they are in fact promissory notes. Indeed, no banknotes (even Bank of England notes) are now legal tender in Scotland or Northern Ireland." Banknotes of the pound sterling - Wikipedia, the free encyclopedia

In a similar vein, you can't use Gibraltarian pound coins in Britain!

[MaidenScotland]

Yes exchanging Scottish notes is a pain. .. although it chocks me to say it you are better with bank of England notes. I went to the cinema in Leicester square to see Braveheart and my Scottish notes were refused by a German working in ticket booth... I was not happy.

Strangely enough I was able to change Scottish notes easily in Chania but no where else in Crete.. here I can't change them.

You cannot buy or exchange Scottish notes for English at Glasgow airport..

[Stravinsky]

We used to go to Scotland on breaks, so had Scottish money on return to England. Most of the shops wouldnt accpt them in England, and we had to go to our Bank to have them changed to UK money!

[MaidenScotland]

And to think it was a Scot who founded the bank of England

[Stravinsky]

Originally Posted by MaidenScotland

And to think it was a Scot who founded the bank of England

Its a good job I was banking with the Royal Bank of Scotland at the time

[MaidenScotland]

I know that there is no problem in spending your Scottish notes in Blackpool or Corby... I suppose anywhere that has a large portion of visiting Scots are used to them

[jimenato]

Apparently RBS in Gibraltar charge you for changing THEIR OWN notes.

[Caz.I]

Originally Posted by jimenato

Apparently RBS in Gibraltar charge you for changing THEIR OWN notes.

That's just pure greed! Since you cant use them outside Gib, they clearly see visitors as a captive market.

But I am astounded by this news about Scottish notes not being legal tender (so I have been looking into this!). However, since they are legal currency and there are not any bank notes that are “legal tender” in Scotland (not even Bank of England notes, apparently), then it is a nonsense. Especially since it is not illegal to accept them and they can be exchanged for Bank of England notes of the same value. Their intrinsic value is the same as English pounds sterling and it is still legal to use them as a method of payment in the UK so there should not be a problem. But it means traders can refuse them even though they have no logical reason to do so.

I lived in London for 20 years and when I tried to use Scottish notes they were normally accepted without a problem, they were queried once or twice in that time but after the staff checked with the manager they were accepted.

I would have thought that having so many Scottish tourists in Spain, and therefore having to change Scottish banknotes regularly, most places would be aware that there is no problem with them.

Besides, I doubt if people who refuse them know they are not “legal tender”as such, they are probably not accepted just because they look different from the Bank of England notes and so they don’t think they have the same value.

The only problem I have had here is when I was changing a mixture of English and Scottish banknotes. The bank tried to charge me double the commission because they said I was changing two different currencies. I pointed out that they were both pounds sterling (and at the same exchange rate!) but they still insisted on charging for two currencies not one because they were issued by different banks. (Don’t know how much they would have charged if some of the Scottish notes were issued by different banks - since there are three that issue notes in Scotland!) Needless to say I took my business elsewhere! Changed them without a problem, and without the bank’s hefty commission!

[nigele2]

Originally Posted by Caz.I

.................. But it means traders can refuse them even though they have no logical reason to do so...................

I have heard traders saying that in England it is harder for them to spot forgeries of Scottish notes as often in the till there is nothing to compare. Also their customers don't want to accept them as change or as cash back so they become dead in the till.

But as a frequent north of the border visitor I can say that in England and Asturias I've had no problems for years

Jimenato are you saying they charge you more for changing Scottish notes than English ones??? Very odd but then as a share holder these days who doesn't use them - go make money guys