23 Dec 05
1 edit
Originally posted by latex bishopThe Bank of Scotland, the Royal Bank of Scotland and the
My understanding when I lived is Scotland was that any bank could choose to print their own money, the only stipulation was that for every bank note printed the bank had to hold the equivelent in English currency issued by the Bank of England. The same applied in Northern Ireland.
Clydesdale Bank are the only three banks in Scotland that can issue new banknotes.
Scottish banknotes are printed in accordance with UK wide laws laid down by Acts of the UK Parliament at Westminster. Approximately 99.8% of Scottish banknotes are backed up by equivalent holdings of Bank of England banknotes and all Scottish banknotes carry a promise to pay an equivalent amount of legal tender should they be presented to the issuing bank.
http://www.scottish.parliament.uk/business/research/briefings-03/sb03-51.pdf
Also the link from Bowmann.
Does nobody read the earlier posts?
23 Dec 05
Originally posted by Dr StrangeloveYou know, I heard that any bank in Scotland could choose to print their own moneyThough for every note printed, the bank had to hold the equivelent in English currency issued by the Bank of England. I think the same applies in Northern Ireland.
The Bank of Scotland, the Royal Bank of Scotland and the
Clydesdale Bank are the only three banks in Scotland that can issue new banknotes.
Scottish banknotes are printed in accordance with UK wide laws laid down by Acts of the UK Parliament at Westminster. Approximately 99.8% of Scottish banknotes are backed up by equivalent holdings of Bank o ...[text shortened]... .parliament.uk/business/research/briefings-03/sb03-51.pdf
Does nobody read the earlier posts?
23 Dec 05
Originally posted by Daemon SinEvery bank WAS allowed to but if they stopped issuing them they lost the right to do so. There are just the three left now, due to mergers and close downs.
You know, I heard that any bank in Scotland could choose to print their own money.
23 Dec 05
Originally posted by Dr StrangeloveThose 3 are the only 3 Scottish clearing banks.
The Bank of Scotland, the Royal Bank of Scotland and the
Clydesdale Bank are the only three banks in Scotland that can issue new banknotes.
Scottish banknotes are printed in accordance with UK wide laws laid down by Acts of the UK Parliament at Westminster. Approximately 99.8% of Scottish banknotes are backed up by equivalent holdings of Bank o ...[text shortened]... earch/briefings-03/sb03-51.pdf
Also the link from Bowmann.
Does nobody read the earlier posts?
23 Dec 05
to answer the original question...
as some of you know, i am a member of the scottish national party, and interestingly this was discussed at our conference in september.
there is an issue here, because the treasurery was suggesting that scottish banks should stop issuing notes.
in strictly legal terms scottish bank notes are NOT legal tender and are in actual fact, in legal jargon called promissary notes.
hope this helps.
24 Dec 05
Originally posted by RedmikeYep the same as all the others....England doesn't have separate representation either, other than MEPs.
Scotland has no representation at the EU, other than MEPs.
There is no separate Scottish input.
Stop complaining, Scotland do OK out of it.
24 Dec 05
Originally posted by Dr Strangeloveead back-he;s not complaining (i think). he was meerly saying that we are the only place to have our flag on our currency without actually being a memeber state, if i remember correctly...
Yep the same as all the others....England doesn't have separate representation either, other than MEPs.
Stop complaining, Scotland do OK out of it.
24 Dec 05
Originally posted by geniusThat's exactly what I was saying.
ead back-he;s not complaining (i think). he was meerly saying that we are the only place to have our flag on our currency without actually being a memeber state, if i remember correctly...
I would prefer Scotland to be a separate member state, but that wasn't the point I was making.
24 Dec 05
Originally posted by latex bishopBuses in London haven't accepted cash for years now...
I have never had a problem with getting rid of scottish notes in London, though I steered clear of £1 notes. Just go to a big shop like Woolworths or Tesco to change them over - unless you want to have some fun. Try a London bus :-)
Andrew
24 Dec 05
Originally posted by VargOnly the Royal Bank still issue them as I recall, have one still in my wallet from my time up north of the border.
If shops in England won't accept Scottish notes, tell them to go to hell because they are legally obliged to.
Larger shops always do, in my experience, it's just corner shops and the like that don't.
Do you have pound notes in Scotland?
I miss those.
As for getting Scottish notes accepted down here, it is rather random. Always worth asking before using them, some people do get a little uptight. Not much difference between small or large businesses. The former will always seem to take them if having a Scottish connection.