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Scottish Banknotes (1 viewing) (1) Guest
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TOPIC: Scottish Banknotes
#8157
Scottish Banknotes 4 Months, 1 Week ago Karma: 0  
On my travels to Korea last week on business I had a connection via Dubai. My first time there, and as it was a 3 hour layover spend some time rummaging around the duty free. I bought some books and asked the assistant if they accepted pounds. She said yes, but promptly refused when she saw they were Scottish notes. The same thing happened in Korea, Hungary, Slovakia and Austria all within the past 6 months. Currency exchange bureaus would not accept them either.

It's an annoyance and an irritation that Scots notes should be rejected in such a fashion, so what needs to be done to convince the ww banking community that Scots notes are bona fide.. ?
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#8161
Re:Scottish Banknotes 4 Months, 1 Week ago Karma: 2  
Try getting them accepted south of the border
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#8162
Re:Scottish Banknotes 4 Months, 1 Week ago Karma: 0  
I haven't had a problem offloading notes down south for many a year.
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#8164
Re:Scottish Banknotes 4 Months, 1 Week ago Karma: 2  
Kendomacaroonbar wrote:
I haven't had a problem offloading notes down south for many a year.

Hi Kendo,

That is a surprise, I have. I heard just lately of someone else having the same problem in M+S.
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#8167
Re:Scottish Banknotes 4 Months, 1 Week ago Karma: 0  
I bet they would not refuse a Clydesdale Bank/RBS/BOS Cheque for the same transaction !
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#8171
Re:Scottish Banknotes 4 Months, 1 Week ago Karma: 2  
Kendomacaroonbar wrote:
I bet they would not refuse a Clydesdale Bank/RBS/BOS Cheque for the same transaction !

So right
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#8173
Re:Scottish Banknotes 4 Months, 1 Week ago Karma: 0  
When you think about it, what's the difference between a cheque drawn on a Scottish Bank or an English Bank... none !, which makes the M&S example all the more unfathomable ?
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#8175
Re:Scottish Banknotes 4 Months, 1 Week ago Karma: 2  
Kendomacaroonbar wrote:
When you think about it, what's the difference between a cheque drawn on a Scottish Bank or an English Bank... none !, which makes the M&S example all the more unfathomable ?

I think many in England truly believe we all go haggis shooting in our kilts and eat our porridge plants raw on the hills.

Personally I cook mine when I am hunting it gets cold on Arthur's Seat.
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#8179
Re:Scottish Banknotes 4 Months, 1 Week ago Karma: 7  
My daughter travels to England regularly with her work and she has had lots of problems with Scottish notes being accepted. The favourite line is that there have been lots of counterfeit Scottish notes in circulation so that's why they don't want to accept them. No doubt that's just an excuse but it's hard to argue with it at the time.

Here is the legal position of Scottish notes as set out by The Committee of Scottish Clearing Banks.
Scottish Banknotes are legal currency i.e. they are approved by the UK Parliament. However, Scottish Bank notes are not Legal Tender, not even in Scotland. In fact, no banknote whatsoever (including Bank of England notes!) 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 and the following extract from Bank of England's website may help to clarify what is meant by 'legal tender' and how little practical meaning the phrase has in everyday transactions.
'The term legal tender does not in itself govern the acceptability of banknotes in transactions. Whether or not notes have legal tender status, their acceptability as a means of payment is essentially a matter for agreement between the parties involved. Legal tender has a very narrow technical meaning in relation to the settlement of debt. If a debtor pays in legal tender the exact amount he owes under the terms of a contract, he has good defence in law if he is subsequently sued for non-payment of the debt. In ordinary everyday transactions, the term 'legal tender' has very little practical application.'
(Ref. www.bankofengland.co.uk/banknotes/about/faqs.htm.)
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.
The majority of banknotes circulating in Scotland are issued by Scottish banks. 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. However, you should not rely absolutely on Scottish notes being accepted outside Scotland and this is particularly true when travelling abroad. 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.

www.scotbanks.org.uk/legal_position.php
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#8184
Re:Scottish Banknotes 4 Months, 1 Week ago Karma: 2  
Hi Meg that is very interesting. Particularly the next page which states that English notes are not legal tender in Scotland
www.royalmint.com/Corporate/BritishCoina...enderGuidelines.aspx

WE NEED A CAMPAIGN

NO ENGLISH BANK NOTES LEGAL TENDER HERE IN SCOTLAND SO SORRY

I can see the banners now
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#8186
Re:Scottish Banknotes 4 Months, 1 Week ago Karma: 0  
English notes are not legal tender in Scotland but for some bizarre reason coinage is; however back to the thread, do you think the Scottish Government should do something about the lack of acceptance outside Scotland ?
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#8188
Re:Scottish Banknotes 4 Months, 1 Week ago Karma: 2  
On trips to Belfast, I was amused by the transparent panels on banknotes issued by the Northern Bank. I brought a fiver back to show people.

I can guess the reaction I would get if I tried to pass that in Scotland!
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#8189
Re:Scottish Banknotes 4 Months, 1 Week ago Karma: 0  
Only one way to find out ! try it and let us know the result !
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#8195
Re:Scottish Banknotes 4 Months, 1 Week ago Karma: 2  
Kendomacaroonbar wrote:
English notes are not legal tender in Scotland but for some bizarre reason coinage is; however back to the thread, do you think the Scottish Government should do something about the lack of acceptance outside Scotland ?

It may be that as the Scottish Government work to improve the reputation and standing of Scotland things may improve.

Remember that for the first time Scotland has a government that really cares about our interaction with other countries.

I think just one well-publicised discussion in Westminster; perhaps a question at PMQs may do the trick. One question, asking why it is that the Scots accept English currency when it is not legal tender and yet businesses in England will not accept Scottish, which is legal tender.

Alternatively, maybe Alex Salmond should put out a statement saying he is considering advising our businesses to not accept English notes until this situation is improved.

This situation should be non-existent if we had even one decent Scottish Secretary over the years. England and the rest of the UK have spent so much time talking down Scotland it will take a long time to repair this damage. We are considered a little place full of work dodgers who are supported by the hard working English people.

Certainly, I think we should try something, but I think in general, there are more important issues to work on.
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#8197
Re:Scottish Banknotes 4 Months, 1 Week ago Karma: 0  
Agreed, there are more important issues to work on, but as this subject matter is a real inequitable situation that many Scots experience, its also a superb opportunity to demonstrate the Governments abilities. Who in opposition party would be churlish to argue against it ?
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