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The UK consists of England, Northern Ireland, Scotland and Wales.
The Bank of England is the sole issuing authority for banknotes in England and Wales.
Scottish banknotes may be issued by the Bank of Scotland, the Royal Bank of Scotland and the Clydesdale Bank.
Four Northern Ireland banks practice their right to issue banknotes, being the Bank of Ireland, the First Trust Bank, the Northern Bank and the Ulster Bank.
The banknotes of all Northern Ireland and Scottish banks are backed by the Bank of England.
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What is the name for Scottish money?
Scotland, in common with the rest of the UK uses Pound Sterling (GBP) divided into 100 pennies (or pence). Scotland uses banknotes issued by three different commercial banks;- Royal Bank of Scotland, Bank of Scotland and the Clydesdale Bank. Bank of England banknotes are rarely accepted in Scotland.
What are the English Pound banknotes?
The currency of the UK is the Pound Sterling (or more normally, just Pound). The Bank of England produces all of the banknotes for England and Wales, whilst several banks in Northern Ireland and Scotland produce notes to their own designs. Jersey, Guernsey and the Isle of Man also issue their own notes. The only notes in current issue in England are £5, £10, £20 and £50. Scotland, Jersey, Guernsey and the Isle of Man also have £1 notes. Scotland and Northern Ireland also issue £100 notes.
Is a Bank of Northern Ireland 5 banknote legal tender in England?
Irish banknotes are not legal tender in Great Britain. Northern Irish banknotes are not legal tender in England and Wales, but by mutual agreement between the banks, are considered as "acceptable tender".
Is the Scottish Pound note still legal currency?
No, Scottish banknotes never were legal tender, and Scotland is the only place where they will be accepted. The currency of Scotland is the Pound Sterling (GBP). All Scottish banks have the right to produce their own banknotes, but only three do. Strangely, all Scottish banknotes are not legal tender anywhere including Scotland. They have more of the standing of a promissory note (in Scotland) and there is a strange legal loop hole in Scottish law that allows this to occur, fortunately. This is simply wrong. Scottish and Northern Ireland banknotes should be accepted within the UK but if accepted outside Scotland, they are returned by UK banks to Scotland. The fact that many have the word "sterling" on them is the biggest clue here. I have frequently spent Scottish currency in England.
Does northern Ireland use the pound?
yes - the UK pound sterling - NI banks produce their own banknotes which can only be used in NI. Bank of England and Scottish notes are also used
Why did banks eventually stop issuing their own currency?
Banknotes are promissory notes and as such had to be backed by something to give them value. Originally most currencies were based on a Gold standard or some other precious metal. However in most countries this is no longer the case and now the right to issue currency is often granted only to the central bank - which is normally owned by the government. However in the United Kingdom this isn't the case. Until the middle of the 19th century all banks in the UK could issue their own banknotes. It was the Bank Charter Act of 1844 which restricted any new banks from issuing notes. Now through a series of mergers ad closures all of the note-issuing banks gradually disappeared. The last private English banknotes were issued in 1921 by Fox, Fowler and Co. The monopoly provisions of the Bank Charter Act only applied to England and Wales. Both Scotland and Northern Ireland still allow several retail banks to issue notes. There are three in Scotland and four in Northern Ireland. In 2004 there was a robbery at the Northern Bank in Northern Ireland where £26.5M was stolen - mainly in uncirculated notes. the bank took the decision to recall all of its notes and re-issue the currency in a new design and colours
How many food banks are there in the UK?
none hhahahhahah
How many banks in n Ireland?
3 local banks. Countless other branches from the rest of the UK
Where was the Clydesdale Bank twenty pound note made?
Clydesdale Bank banknotes are printed by De La Rue PLC which is headquartered in Basingstoke, Hampshire, UK. Amongst its many functions, De La Rue makes the paper for the banknotes of over 30 very diverse countries around the world, and prints the banknotes for many of those countries.
Are notes in UK legal tender?
No. The One Pound note ceased to be legal tender in March 1988.
What is Scottish money called?
Since Scotland is part of the United Kingdom of Great Britain and Northern Ireland it uses the pound Sterling (GBP £). Three Scottish banks are permitted however to print their own banknotes, which are often referred to as "Scottish notes". These bank notes will look diffrent from Bank of England bank notes but are normally accepted elsewhere in the UK. The three banks are The Royal Bank of Scotland, The Bank of Scotland, and Clydesdale Bank. There are four banks in Northern Ireland which also print their own banknotes. In the medium term there is a chance that the UK (and therefore Scotland) will adopt the Euro as it's currency. However there are no plans to do this yet.
What kind of UK banks are located in Gibraltar?
Most of the UK banks are represented in Gibraltar.
