Another story from the slow, festive news period was the synthetic outrage from the Lib Dems, as they learned that Scottish Bank notes were not legal tender in
England. Stop the press! Hold the front page! Lib Dems pick fight with
London shock!
You have to wonder where the Lib Dems have been, though. Scottish banknotes have never been ‘legal tender’ - that which is acceptable in settlement of a debt - even in Scotland. In fact, not even Bank of England notes are classed as being ‘legal tender’ in Scotland.
That said, the term ‘legal tender’ doesn’t have any influence over the acceptability or otherwise of bank notes as a means of exchange between interested parties. It really comes down to whether or not you have confidence in being able to redeem the note for its stated value, and therefore continue to enjoy the ‘double coincidence of wants’ which bank notes are supposed to provide.
Everyone has their own horror story to tell about a surly London cabbie refusing to take Scottish notes, many of which I dare say grow a bit in the telling. As it happens, most places in the centre of London are quite happy to take any kind of note you proffer. Vending machines can be a bit temperamental, although that applies every bit as much in my experience to many of those installed in Scotland too.
My only outright refusal to accept Scottish notes came a few months ago from a Polish barman in deepest, darkest Beckenham (Kent commuter land), who complained very obnoxiously about my ‘funny money’. He then became particularly aggressive when I then enquired if his refusal to accept my money meant that the already poured pints in front of me were therefore free. However, with a wee bit of initiative, you can sometimes make it work both ways.
Flying out of Muscat Airport a few years ago, I had a wallet-full of Omani Rials, which I didn’t fancy trying to get changed back in Scotland. The guy at the Bureau de Change obviously recognised my Scottish accent, and knowing the reluctance of some English people to accept Scottish notes, pronounced with regret that the only Sterling notes he had were Clydesdale Bank twenties.
Primed from a few days bargaining in the various Souks, I sucked on my teeth, shook my head and told him that I didn’t get such a good exchange rate for Clydesdale notes when I took them back home. To which he smiled, offered them to me commission free and agreed to round the transaction up in my favour. Sold!
Sure, it’s annoying when Scottish notes get knocked back. Yes, people outside Scotland should be better aware that these are also sterling notes and yes, sometimes we need to be more assertive than we might feel comfortable with to get them accepted. This is hardly a new phenomenon, but it’s going to take more than a publicity-seeking Lib Dem spokesman to ensure Scottish banknotes get the recognition and acceptance they deserve.
