BBC Scotland - BBC Scotland - Did you know you can still get £1 notes in Scotland? (2024)

FAQs

BBC Scotland - BBC Scotland - Did you know you can still get £1 notes in Scotland? ›

Paper notes are being phased out in favour of polymer around the UK. Indeed, on 1 March 2018, Scottish paper £5 and £10 notes were removed from circulation. However, about £16,000 worth of £1 notes are still issued each month — predominantly for cultural use, such as wedding gifts, rather than to pay for shopping.

The £1 note is currently the smallest denomination of banknote issued by The Royal Bank of Scotland. The bank ceased regular production of £1 notes in 2001; the denomination is still legal currency and remains in circulation, although it has rarely been seen in cash transactions since about 2006.

This is mainly due to the fact that they are not as common as English notes so people are less able to spot forgeries. Also businesses pay high bank charges and would have to pay the bank to change it into something customers would accept in change. Very few in England accept scottish notes.

Can I change old notes / coins for new ones? Yes, as a Royal Bank of Scotland customer you can swap, or deposit into your account, out of circulation coins/notes and replace them with new ones.

The £100 note is currently the largest of five denominations of banknote issued by the Bank of Scotland. The Tercentenary series of Bank of Scotland notes was introduced in 1995, and is named for the three hundredth anniversary of the bank's founding, which occurred in that year.

While rare serial numbers often generate interest, banknotes will only ever be worth their face value to us.

Can You Spend Scottish Money in England? The shortest of answers is yes, but no business is legally obliged to accept your money. In England, no business is legally forced to accept banknotes printed by the Scottish and Northern Irish banks.

The vast majority of McDonald's UK restaurants accept Scottish banknotes.”

How long will Queen's money be valid? ›

The Bank of England has announced it will begin circulating bank notes with the image of King Charles III from June 5 this year, 2024. That means that, at some point, notes featuring the image of his mother Queen Elizabeth II will no longer be usable.

If you tilt the note you should see the image change between the Bank of Scotland logo and the numerical value of the note. The metallic SECURITY THREAD on the £20, £50 and £100 notes if tilted changes colour from metallic red to metallic green.

The Post Office Opens in a new window will accept most old notes as a deposit into any UK bank account you can access with them. There are also 47 Post Office branches across the UK that will swap old banknotes, even if you do not have a bank account.

Indeed, on 1 March 2018, Scottish paper £5 and £10 notes were removed from circulation. However, about £16,000 worth of £1 notes are still issued each month — predominantly for cultural use, such as wedding gifts, rather than to pay for shopping.

Clydesdale Bank notes

The public were encouraged to spend or exchange non-polymer five and ten pound notes before 1 March 2018 and twenty and fifty pound notes before 30 September 2022. The polymer notes continue the theme of the World Heritage Series of paper banknotes, introduced in autumn 2009.

Why is it that Scottish bank notes do not? This is a variant on the proposition that all ancient and immutable traditions are Victorian inventions.

The new nickel brass coin was introduced on 21 April 1983 and the one pound note ceased to be legal tender on 11 March 1988. Bank of England £1 notes are still occasionally found in circulation in Scotland, alongside £1 notes from Scottish banks.

The public were encouraged to spend or exchange non-polymer five and ten pound notes before 1 March 2018 and twenty and fifty pound notes before 30 September 2022. The polymer notes continue the theme of the World Heritage Series of paper banknotes, introduced in autumn 2009.

Scottish notes aren't legal tender in England or Scotland. Debit cards, cheques and contactless aren't legal tender anywhere.

In most countries it is only the Governments, through their central banks, who are permitted to issue currency. But in Scotland three Banks - Bank of Scotland, Clydesdale Bank and The Royal Bank of Scotland - are still allowed to issue banknotes.