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Scottish banknotes are produced by private banks and are not legal tender in either Scotland or England. Similarly, Bank of England banknotes are not legal tender in Scotland. Both are regarded as "promissory notes" when they cross the border.
Due to an agreement between UK banks, all banknotes produced in the UK are treated as legal tender.
This arrangement of mutual convenience is not necessarily binding on businesses and trades people, so you may have some issues in getting the local (English) corner store to accept a Scottish banknote.
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Is there 100 pound note?
The Bank of England don't currently have £100 notes, but the Bank of Scotland do and they are red. The English £50 notes are red as well.
Are Scottish bank notes legal tender?
NO they are not legal tender in Scotland or anywhere else so no to England as well. In fact Scotland has no such thing as legal tender, however Bank of England notes are legal tender in England only
Will the Bank of England accept Ulster banknotes?
The Bank of England is the central agency for the production of British banknotes. Bank of England banknotes are the only legal tender notes that are accepted in England and Wales. By mutual agreement between the banks, the banknotes of Scotland and Northern Ireland are treated as legal tender in England and Wales although they do not have the status of legal tender.
What is shown on Scotland's bank notes and what is its significance?
Scotland has three banks which issues notes. The Royal Bank of Scotland's notes feature Scottish castles, The Bank of Scotland's notes feature Scottish bridges and the Clydesdale bank notes feature famous Scots and Scottish World Heritage sites.
What currency is used in Scotland?
Pounds sterling, the same as in the rest of the UK. In Scotland three banks issue their own banknotes: the Bank of Scotland, - the Royal Bank of Scotland and Clydesdale Bank. English notes (issued by the Bank of England) are valid in Scotland and Scottish notes can be used in England. They have exactly the same value.
Do banks and businesses in Scotland take notes issued by Northern Bank in Ireland?
Of course. Any kind of pounds sterling is accepted in any part of the UK - so Northern Irish notes, Scottish notes, and English notes are all accepted in N.I., Scotland, England and Wales. Some people (usually only in England) will give you hassle because they haven't seen that design of note before and they are ignorant enough to not have noticed that there are several other types of notes, not just Bank of England. These people are idiots and they have to accept your money because it is pounds sterling and therefore legal tender, just as much as any other sterling note or coin.
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.
Does the Royal Bank of Scotland still make a One Pound note?
Scottish banknotes are not legal tender anywhere in the UK including Scotland, where the have the status of a Prommissory note. The Royal Bank of Scotland is the only bank still producing a One Pound note in Scotland. The notes are acceptable in Scotland. There is an agreement in place between banks, and the Scottish One Pound note should be accepted by English banks, but might be accepted by business and trades people in England.
Does Scotland have an independent monetary policy from England?
No. Scotland and England are both included in the same economy. They are regarded as a part of Britain. Scotland does print its own banknotes though which are different from English bank notes but are equal in value.
What kind of money do they use in Scotland?
The Pound Sterling - the same as the rest of the UK. However, there is a slight difference. Scottish Banks have the right to issue there own banknotes (in pounds sterling). Bank of England notes are widely accepted in Scotland but some places in England, particularly very small traders, may be unwilling to accept Scottish notes because they don't often see them and are unsure if they are genuine.
Can you use American money in Scotland?
Yes, you can use American money in Scotland, but it may not be accepted by all businesses. It's recommended to exchange your American dollars for British pounds in order to easily make purchases and transactions while in Scotland. Many places in Scotland also accept credit and debit cards for payments.
Are old 20 pound notes still accepted at banks in England?
No, if you have a old £20 note you are able to take it to the Bank Of England and you change it for a current one.
