Is Scottish 20 pound note legal tender?
The issuing of banknotes by Scottish banks was regulated by the Banknote (Scotland) Act 1845 until it was superseded by the Banking Act 2009.
Though strictly not legal tender in Scotland, Scottish banknotes are nevertheless legal currency and are generally accepted throughout the United Kingdom..
Can you still use paper notes in Scotland?
Scottish issuing banks will accept paper notes in pay-ins from customers. Non-customers can exchange their banknotes at the respective issuing bank up to a limit of £250.
Can we exchange old notes now?
You can always exchange withdrawn notes with us by post. … Send it with your banknote(s) and photocopies of ID (one photo ID and one proof of address) for any exchange (mandatory for any exchange of £700 or more) to Department NEX, Bank of England, Threadneedle Street, London EC2R 8AH.
Will English banks change Scottish notes?
Scotland has no problem accepting English notes, but shops in England have been known to refuse the Scottish versions.
Why is Scottish money not legal tender?
Scottish banknotes are unusual, first because they are issued by retail banks, not government central banks, and second, because they are technically not legal tender anywhere in the United Kingdom – not even in Scotland. … Instead the Scottish banks withdraw old notes from circulation as they are banked.
How can you tell if a Scottish note is real?
Hold the note up to the light and with the SEE THROUGH effect you should see coloured irregular shapes printed on the front and back of the note that when combined form the Bank of Scotland logo. Always compare both sides of a suspect note to one you know to be genuine.
How long can I use old 20 pound notes?
Since the Bank of England are yet to confirm when the old £20 notes expire, people will be given six months’ notice of its withdrawal. That means, even if they announce it tomorrow, you’ll still be able to use the old notes up until at least August 2021.
What do I do with old Scottish bank notes?
Yes, as a Royal Bank of Scotland Bank customer you can swap, or deposit into your account, out of circulation coins/notes and replace them with new ones.
Can I change old 20 notes at the post office?
When do the old £20 notes expire? … After this date you will no longer be able to use the notes in shops, but you will be able to exchange them for new notes. Some banks and the Post Office may also accept them if you wish to deposit them into your bank account.
Will my bank accept Scottish notes?
Scottish notes aren’t legal tender in England or Scotland. Debit cards, cheques and contactless aren’t legal tender anywhere.
Why do Scottish banks issue notes?
To aid identification the Scottish banks have all agreed to issue notes of specific value in the same predominant colour. Thus £5 notes are blue, £10 notes are brown, £20 notes are maroon/purple, £50 notes are green and £100 notes are red.
Why is there a spider on Scottish money?
It’s claimed that Robert Bruce hid out here, dejected, after his disastrous first year as King of Scots. Legend tells us that, while waiting out the winter of 1306, he watched a spider on the cave wall try time and again to spin its web. Every time the spider fell, it rose to begin again.
How do I get rid of my old 20 pound notes?
The easiest way to get rid of the paper notes is to spend it in a shop or to deposit it at a local bank or building society. Shops will stop accepting notes from the day they officially are withdrawn by the Bank of England. However, banks usually allow customers to deposit old notes for some time after that date.
Are they changing 20 notes?
Exchanging old notes On 20 February 2020 we issued a new polymer £20 note. You will still be able to use the paper £20 note until we withdraw it from circulation.