A bank of Scotland spokesman told Glasgow Live: “On 30 September 2022, the Bank of Scotland will withdraw the £20 and £50 paper notes. Paper banknotes have been replaced by polymer versions that are already in circulation. They said: “Polymer banknotes are made from a transparent plastic film specially covered with an ink layer that allows them to carry the printed design features of banknotes. Once the September 30 deadline has passed and the Bank of England has withdrawn legal tender status for paper notes and £20 and £50, people will still be able to deposit paper notes at their post office and at some banks. In Scotland, national commercial banks produced and used their own banknotes for more than 200 years in 1914. However, Scottish banknotes were only considered legal tender. When creditors and merchants refused to pay debts other than legal tender or gold coins, the British government granted Scottish banknotes the status of legal tender during the war, “provided that the banks of their registered office were always required to pay in gold or Treasury banknotes”. This allowed Scots to continue shopping with their local currency without fear of legal rejection by traders. Many common and secure payment methods such as checks, debit cards and contactless are not legal tender.

But here too, it makes no difference in everyday life. Clydesdale Bank will exchange all Scottish banknotes for its own customers with a £250 allowance for non-customers. The Bank of England switches from gold to paper Bank of Scotland said customers would receive their paper notes after the September 30 deadline. September can deposit into their accounts as usual, while non-Bank of Scotland customers can exchange paper notes worth up to £250 into a polymer version. Scottish paper notes of £20 and £50 are being withdrawn as officials have encouraged people to buy them back or issue them before the September deadline. £20 and £50 paper notes expire in a few days as urgent delay warning is issued You can exchange old paper notes at your bank branch with the Bank of Scotland by accepting their customers` deposits of paper notes issued by a Scottish bank and exchanging them for customers and non-customers The effects of the sudden inclusion of gold coins forced the Bank of England to turn to paper money because they feared exhausting their money. Gold is completely stored. While notes of £5 and over already existed in England, the considerable amount of money these notes represented at the time meant that many people had never owned or even seen a banknote. The government has desperately tried to convince the British to use paper money for everyday transactions in order to save the country`s gold companies. In Scotland, however, the transition from gold to paper money has been much easier.

First of all, Scottish banknotes are legal tender. However, legal tender is the only method of payment that a creditor must accept if it is offered in exchange for a debt. Although Scottish currency can be accepted; It is legal for creditors to refuse Scottish banknotes if they are offered in exchange for debt. It is also interesting to note that if the strict rules of legal tender were to be respected in a transaction, the exact amount due should be offered, as no changes can be requested. The date of redemption of paper notes will come when the Bank of England lets its own £20 and £50 paper notes expire, meaning people will have to use their remaining Bank of England paper notes until the end date when they will no longer be legal tender. People will still be able to drop off paper notes at their local post office, and many UK banks will continue to accept banknotes as deposits from customers even after Friday. Scottish banknotes are legal tender, i.e. they are approved by the British Parliament. However, Scottish banknotes are not legal tender, not even in Scotland. In fact, no banknotes (including Bank of England banknotes!) are eligible for the term “legal tender” north of the border, and the Scottish economy appears to be without this legal protection.

Hm Treasury is responsible for defining which banknotes are legal tender in the UK. Our tickets are no longer legal tender when we withdraw them. We usually give several months in advance the date on which we withdraw a note. “All Royal Bank of Scotland and Ulster banknotes (like all Scottish and Northern Irish banknotes) remain legal tender, are not withdrawn from circulation in the same way as Bank of England banknotes and have no deadline for acceptance.” The Bank of England has also said that it is easier to detect a counterfeit note with the polymer version compared to paper notes. Legal tender has a narrow technical significance that has no use in everyday life. This means that if you offer to pay a debt to someone who is legal tender in full, they won`t be able to sue you because you haven`t paid it off. While Bank of England banknotes have been in circulation in Scotland since its inception, Scottish banknotes still exist as legal tender. Although banknotes can be refused by law, as many English people have discovered the hard way, many shops, restaurants and bars still accept these notes in Scotland (and England if the merchant is happy to accept!) and tourists often take them home to remind them of their visit. But the Bank of England says there are still £20 worth of paper banknotes worth £6 and £50 of £8 billion banknotes in circulation. From May 2020, the Royal Bank of Scotland is introducing a new series of banknotes.

These will be made of polymer. Three (the £5, £10 and £20 notes) have already been released. The £5 note features poet Nan Shepherd on the front, accompanied by a quote from her book The Living Mountain and the Cairngorms in the background.