Scottish Money..is it legal in England

dccarm

It seems to me some people are trying to cloud the issue by being pernickity about the definition of "legal tender."

Ganyam

ZZRKarlos wrote:

Hi, I have just been paid in Scottish Money, just a question...is this money legal tender in England, or do I have to change it via the banks to English Money...confused...

Sorry pressed the thanks button by mistake, but i will refuse to answer that question on the grounds that is stupid....

Ganyam

islandannie wrote:

Scottish notes ARE NOT LEGAL TENDER end of story.

Getting more embarassed by th e minute.

And ya bloody well should be ya bloody idiot.... hope ure ya joking like the op..

jonesMUFCforever

MINMOUSE wrote:

This post seems crazy - why would scottish money not be legal tender n England. Have been to England more times than I want to count and have seen Bank of Scotland, RBOS etc in several High Streets. Are the banks illegal too!!

Might be something to do with the fact that Scottish notes are printed by the Bank of Scotland (and others) whilst english notes (all of them) are printed by the Bank of England.

islandannie

Ganyam wrote:

And ya bloody well should be ya bloody idiot.... hope ure ya joking like the op..

Another halfwit!! Scottish notes are promisary notes based on the gold reserves of the bank of england.

To my knowledge none of the scottish banks that the treasury allows to print their own notes have any reserves of their own!!!

rdwarr

OK, we have one group of people saying "Scottish notes are legal tender and anyone who says otherwise is a liar" and another saying "Scottish notes are not legal tender".
Nobody has been able to come up with any proof of the former (especially the strangely-named niceguyrichie) but people in the latter camp have come up with many different reliable sources to substansiate their arguments.
If I didn't already know that Scottish notes were Mickey Mouse money that are only accepted out of convenience, then the above would clearly sway me. The highest legal tender in Scotland is a £2 coin.

islandannie

rdwarr wrote:

OK, we have one group of people saying "Scottish notes are legal tender and anyone who says otherwise is a liar" and another saying "Scottish notes are not legal tender".
Nobody has been able to come up with any proof of the former (especially the strangely-named niceguyrichie) but people in the latter camp have come up with many different reliable sources to substansiate their arguments.
If I didn't already know that Scottish notes were Mickey Mouse money that are only accepted out of convenience, then the above would clearly sway me. The highest legal tender in Scotland is a £2 coin.

Correct but the amount of money Scottish Banks are allowed to print are based on the Bullion reserves of the Bank of England.

No Scottish banks hold reserves, so Legal Tender is and always has beeen defined against English Banknotes,therefore in simple terms a scottish pound promises you the value of an English pound.

It just seems that a lot of jingoistic Scots can`t either distinguish the difference or are too filled by nationalistic bile to accept simple reason.

John_T_5

Okay as someone who is Scottish I would like to take the opportunity to clear this matter up before war starts, this was taken from the Bank of England website.

'Are Scottish & Northern Irish notes legal tender?
In short ‘No’ these notes are not legal tender; only Bank of England notes are legal tender but only in England and Wales.
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.'

http://www.bankofengland.co.uk/banknotes/about/faqs.htm

Bank Of England notes are not legal tender in Scotland, but we are a tolerant bunch and we don't mind accepting your funny money when you are on holiday :-)

I have never had a problem spending Scottish money in England or Wales and the Bank of Croatia was happy to exchange my notes when on holiday.

xbox

islandannie wrote:

Correct but the amount of money Scottish Banks are allowed to print are based on the Bullion reserves of the Bank of England.

No Scottish banks hold reserves, so Legal Tender is and always has beeen defined against English Banknotes,therefore in simple terms a scottish pound promises you the value of an English pound.

It just seems that a lot of jingoistic Scots can`t either distinguish the difference or are too filled by nationalistic bile to accept simple reason.

Hmmm...

As a Scot who has lived in England for many years I've always made sure that I do not bring Scottish notes back with me (it's just not worth the hassle)

However I'm disappointed that this thread is in danger of turning into a "Scot's V English" debate - come on "guys"..

xbox

islandannie wrote:

Correct but the amount of money Scottish Banks are allowed to print are based on the Bullion reserves of the Bank of England.

I thought that the gold standard was broken after the War?

Bretton_Woods