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Scottish banknotes are unusual, first because they are issued by retail banks, not government central banks, and second, because they are not legal tender anywhere in the United Kingdom. Scottish bank notes are not legal tender even in Scotland, where, in law, no banknotes, even those issued by the Bank of England, are defined as legal tender.
Scottish banknotes are legal currency throughout the United Kingdom, though they are not legal tender. [4] [5] Scottish banknotes are accepted in other countries of the United Kingdom, and holders have the same level of protection in law as those holding Bank of England notes. [6] In 1727, the Royal Bank of Scotland began issuing twenty ...
Scottish banknotes are legal currency and are generally accepted throughout the United Kingdom. However, they are not legal tender; not even in Scotland, where only Royal Mint coins are legal tender. Scottish banknotes are fully backed such that holders have the same level of protection as those holding genuine Bank of England notes. [2]
Scottish and Northern Irish banknotes are not legal tender anywhere, and Jersey, Guernsey and Manx banknotes are only legal tender in their respective jurisdictions. Although these banknotes are not legal tender in the UK, this does not mean that they are illegal under English law, and creditors and traders may accept them if they so choose.
Scottish banknotes are legal currency and are generally accepted throughout the United Kingdom. Scottish banknotes are fully backed such that holders have the same level of protection as those holding genuine Bank of England notes. In a narrow technical sense, neither Bank of England notes nor Bank of Scotland notes are legal tender in Scotland ...
The issuing of banknotes by Scottish banks was regulated by the Banknote (Scotland) Act 1845 until it was superseded by the Banking Act 2009. [1] Though strictly not legal tender in Scotland, Scottish banknotes are nevertheless legal currency and are generally accepted throughout the United Kingdom.
The issuing of banknotes by Scottish banks was regulated by the Banknote (Scotland) Act 1845 until it was superseded by the Banking Act 2009. [1] Though strictly not legal tender in Scotland, Scottish banknotes are nevertheless legal currency and are generally accepted throughout the United Kingdom.
The issuing of banknotes by Scottish banks was regulated by the Banknote (Scotland) Act 1845 until it was superseded by the Banking Act 2009. [1] Though strictly not legal tender in Scotland, Scottish banknotes are nevertheless legal currency and are generally accepted throughout the United Kingdom.