Some of these banknotes are of very high value, including £1 million banknotes (known as Giants) and £100 million banknotes (known as Titans). You may disable these by changing your browser settings, but this may affect how the website functions. For more information on how these cookies work please see our Cookie policy. A kindly bank will probably swap them if you ask nicely - even if you're not a customer - but be prepared for them not to. Chain stores should accept them unless the cashier is badly trained; small/independent shops most likely won't. Nearly a quarter of respondents (23%) said they would reject the note if handed one. But in Scotland three Banks - Bank of Scotland, Clydesdale Bank and The Royal Bank of Scotland - are still allowed to issue banknotes. We are not responsible for the design of banknotes from the seven banks, or how well they resist counterfeiting. The Bank of England is a 'prescribed person;, which means that you can make a whistleblowing disclosure about the Scottish and Northern Ireland banknote regime to us instead of your employer. Royal Bank of Scotland, Clydesdale and Bank of Scotland have also agreed to exchange their own paper £5 and £10 notes from non-customers up to the value of £250. Very few in England accept scottish notes. Of the 1,710 people asked, a fifth said they were fake. Y es, you can – but it doesn't legally have to be accepted. The good news is that coins from the Royal Mint do have legal tender status north of the border - to a certain extent. Branches of the Scottish note-issuing banks situated in England dispense Bank of England notes and are not permitted to dispense their own notes … Subscribe to Daily Mirror and Sunday Mirror newspapers, New Scottish £10 note isn't legal tender in England OR Scotland - the facts about whether shops have to accept them or not, You can get a free Domino's Pizza and save up to £25 - and it's valid all weekend, Domino’s have scored some unmissable deals to make sure you, and your family, are well fed during the Six Nations, and NFL Superbowl on Sunday, Asda's petrol station arm to be sold to Issa brothers in £6.8bn supermarket takeover, The Issa brothers have reached an agreement to acquire Asda from Walmart in a £6.8billion deal that will also include its chain of forecourts, subject to regulatory approval, Restaurants extending Eat Out to Help Out discounts into September themselves, Eat Out to Help out has proved wildly popular - offering 50% discounts on Mondays, Tuesdays and Wednesdays at restaurants in August - so quite a few places have decided to keep it going in September too, Martin Lewis on the best savings accounts right now as interest rates hit rock bottom, Speaking on the ITV Money Show, the consumer expert urged viewers to shop around for better rates - with the following accounts the ones to watch right now, Best Valentine's Day 2021 meals for two - available from Asda, Waitrose and more. The seven Scottish and Northern Ireland banks must, by law, set aside assets that are worth at least the value of all of the banknotes they have in circulation. A strange quirk of the British legal system means that in Scotland neither English nor Scottish notes – of any denomination - … Association of Commercial Banknote Issuers, The Scottish and Northern Ireland Banknote Rules, The Scottish and Northern Ireland Banknote Statement of Penalty Policy, Statement of note Issuance considerations, Scottish and Northern Ireland Banknote Issuance Annual Report 2019, Scottish and Northern Ireland Banknote Issuance Annual Report 2018, Scottish and Northern Ireland Banknote Issuance Annual Report 2017, AIB Group (UK) plc (trades as First Trust Bank in Northern Ireland), Northern Bank Limited (trades as Danske Bank). image caption Three Scottish banks have reserved the right to print their own notes London Mayor Boris Johnson has instructed the city's buses to accept Scottish bank notes. Coins are manufactured and issued by the Royal Mint. In fact, no banknotes are classed as legal tender in Scotland, where only coins are counted as such. And you do not have to accept them in your change either. … No, you do not have to accept them in your change either. Technically neither Scottish nor NI notes are legal tender in England, but they are good tender. By clicking ‘Accept recommended settings’ on this banner, you accept our use of optional cookies. In England and Wales, it’s Royal Mint coins. Shops and anybody else can choose whether to accept Scottish notes or not. We do this by collecting regular information and visiting the places where the assets are stored to count them and check they are held securely. Opens in a new window. We have a published approach to regulating Scottish and Northern Ireland banknotes. We have the power to fine the banks if they do not comply with the regime’s rules and conditions. While not legal tender, they are UK Parliament-approved legal currency, which makes them a perfectly acceptable way to pay. Disclosures made to us will be dealt with by a dedicated whistleblowing function. Currently, three retail banks are allowed to print notes for circulation in Scotland: Bank of Scotland, Royal Bank of Scotland, and Clydesdale Bank. This ensures that people with genuine banknotes issued by the seven banks receive a level of protection similar to people who have genuine Bank of England banknotes. … Coins are manufactured and issued by the Royal Mint. In 2017, just weeks after the launch of the Bank of England's new £10 note, three Scottish banks released their own plastic tenners. Has anyone done this and is it true. Carmichael wants to encourage businesses across the UK to recognise and accept Scottish banknotes with his legal tender bill. clydesdale and british linen bank , if we were offered notes from bank of scotland we had to refuse them or change them into english notes. There are also some restrictions when using small coins. Let me finish with a quick word to English shopkeepers - please accept Scottish and Northern Irish notes. Yes. However, the rules could soon change as an MP has now lodged a bill in the House of Commons calling for banknotes from Scotland to be accepted throughout the UK. When you subscribe we will use the information you provide to send you these newsletters. OP - you shouldn't have too much trouble spending Scottish notes in London, but do have some English notes for when the argument is not worth it. 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