High value banknotes - what would you do?

[DazzyD]

Hi all.

I did a gig last night for the wedding of the daughter of a lottery winner. Everyone was in a good party mood and I had a good dance floor from even before the buffet.

What made the evening different, though, was I got paid in Scottish £50 notes (bearing in mind we're in Tyne & Wear). Now, I had the notes checked with bar staff who used their counterfeit detector and told me they were genuine but it was company policy not to accept them. I've tried a few shops this morning and, basically, been treated as if I was trying to pay with monopoly money or something. My local shopkeeper said the bank will take them no problem but it doesn't open until tomorrow so I've had to withdraw cash at the cashpoint just to get some bread and milk!

In future, I'm going to write it in to my T&Cs that we only accept English banknotes. This will save this hassle although Scottish bank notes are legal currency (but not legal tender, apparently - it's complicated but I've been researching Scottish bank notes this morning!)

So, what would you lot do if you were given Scottish £50 notes as payment? I'd be interested to hear!

[Vectis]

I HAVE been paid with Scottish £50 notes... even here on the IoW.

Used them no problem. But then you can spend Euros quite happily in most places here too.

I think it would be a bad idea to put it in Ts & Cs though... that would look really :Censored:. I mean how often does it happen??

[rob1963]

Hi all.

I did a gig last night for the wedding of the daughter of a lottery winner. Everyone was in a good party mood and I had a good dance floor from even before the buffet.

What made the evening different, though, was I got paid in Scottish £50 notes (bearing in mind we're in Tyne & Wear). Now, I had the notes checked with bar staff who used their counterfeit detector and told me they were genuine but it was company policy not to accept them. I've tried a few shops this morning and, basically, been treated as if I was trying to pay with monopoly money or something. My local shopkeeper said the bank will take them no problem but it doesn't open until tomorrow so I've had to withdraw cash at the cashpoint just to get some bread and milk!

In future, I'm going to write it in to my T&Cs that we only accept English banknotes. This will save this hassle although Scottish bank notes are legal currency (but not legal tender, apparently - it's complicated but I've been researching Scottish bank notes this morning!)

So, what would you lot do if you were given Scottish £50 notes as payment? I'd be interested to hear!

Hi Dazzy,

To answer your question, I would accept them, as they are legal tender.

The only problem I envisage is the possibility of them being counterfeit, but from my own point of view, having worked in a bank for 24 years, I'd know instantly if they were dodgy.

However, I would warn people to be wary when accepting Scottish notes as payment, as there are a higher percentage of forgeries than with English money.

This is because a forged Scottish note is more likely to get past you, as most people won't have seen too many, and therefore won't be too sure what a genuine note looks like. In addition, there are three or four different Scottish banks which all issue their OWN notes, all of which are different, which only adds to the confusion!

[Excalibur]

My wife's shop accepts them no problem, and as stated, banks are no problem. I've had a few of them before, and it's not really a problem.

[DazzyD]

Hi Dazzy,

To answer your question, I would accept them, as they are legal tender.

The only problem I envisage is the possibility of them being counterfeit, but from my own point of view, having worked in a bank for 24 years, I'd know instantly if they were dodgy.

However, I would warn people to be wary when accepting Scottish notes as payment, as there are a higher percentage of forgeries than with English money.

This is because a forged Scottish note is more likely to get past you, as most people won't have seen too many, and therefore won't be too sure what a genuine note looks like. In addition, there are three or four different Scottish banks which all issue their OWN notes, all of which are different, which only adds to the confusion!

Thanks Rob. Forgot you were a banking expert!

However, my research has found that Scottish notes cannot be called "legal tender" as this is a misleading term. This is a link to a site by the Committee of Scottish Clearing Bankers which sets out the legal position :

http://www.scotbanks.org.uk/legal_position.php

My shopkeeper chum said, the same as you, in that Scottish notes are not easier to forge (as is the common misconception) but just that people don't see them very often so are unsure what to check for. He is pretty confident they're real but, again, it's his policy not to accept them.

[rob1963]

Thanks Rob. Forgot you were a banking expert!

However, my research has found that Scottish notes cannot be called "legal tender" as this is a misleading term. This is a link to a site by the Committee of Scottish Clearing Bankers which sets out the legal position :

http://www.scotbanks.org.uk/legal_position.php

My shopkeeper chum said, the same as you, in that Scottish notes are not easier to forge (as is the common misconception) but just that people don't see them very often so are unsure what to check for. He is pretty confident they're real but, again, it's his policy not to accept them.

Dazzy,

After your first post, I've also been doing some reading about the phrase "legal tender" and it seems to be a very grey area, as I found the following, which only adds to the confusion:

Coins and banknotes do not need to be "legal tender" in order to be used as money to buy and perform other transactions for which money is intended. For example, British banknotes issued by various institutions circulate in the United Kingdom without being legal tender in all the jurisdictions of the United Kingdom.

The bottom line is that (assuming they're not forged) you'll never get stuck with these notes, as banks will accept Scottish, Irish, Isle of man and Channel islands bank notes. They even accept out of date English bank notes which are NOT legal tender (old £1 notes, for example).

I agree with Vectis about changing your terms & conditions on this matter. I really wouldn't bother, as it's unlikely you'll ever have this situation again anyway.

:)

[DazzyD]

Apologies, Martin. I didn't notice your post before.

It must be just shops round here are more suspicious than other areas of the country.

Martin, Peter and Rob - I think you guys are right. Changing my T&Cs in this way does sound a step in the wrong direction. It just seems that the general position of businesses round here is not to accept them. Most times there's not a problem with cash over the weekend as I get paid on a Friday from my day job but my timesheets didn't get faxed properly this week so I didn't get paid! (I really don't think fax machines like me :( !)

[CRAZY K]

Hi all.

I did a gig last night for the wedding of the daughter of a lottery winner. Everyone was in a good party mood and I had a good dance floor from even before the buffet.

What made the evening different, though, was I got paid in Scottish £50 notes (bearing in mind we're in Tyne & Wear). Now, I had the notes checked with bar staff who used their counterfeit detector and told me they were genuine but it was company policy not to accept them. I've tried a few shops this morning and, basically, been treated as if I was trying to pay with monopoly money or something. My local shopkeeper said the bank will take them no problem but it doesn't open until tomorrow so I've had to withdraw cash at the cashpoint just to get some bread and milk!

In future, I'm going to write it in to my T&Cs that we only accept English banknotes. This will save this hassle although Scottish bank notes are legal currency (but not legal tender, apparently - it's complicated but I've been researching Scottish bank notes this morning!)

So, what would you lot do if you were given Scottish £50 notes as payment? I'd be interested to hear!

Nothing--go to the bank.

Its no different to foreign money---at least Banks wont charge you a handling commission--far as I know.

So if you researched the subject whats the going rate for a Scottish pound--I did hear a rumour the bank wont give you face value:eek: :eek: :eek:

Only joking mate!

CRAZY K

[DazzyD]

Nothing--go to the bank.

Its no different to foreign money---at least Banks wont charge you a handling commission--far as I know.

So if you researched the subject whats the going rate for a Scottish pound--I did hear a rumour the bank wont give you face value:eek: :eek: :eek:

Only joking mate!

CRAZY K

With Gordon Brown in charge, it could go one of two ways. With him being a Scot (and, thus, part of a proud nation) it could be worth £millions of English pounds. Or, if the current situation in this country continues, it could be worth about £7.50 next month! (by todays prices - it'll still be worth £50 at next months prices before any smarty-pants jumps in!)

[Shaun]

So, what would you lot do if you were given Scottish £50 notes as payment? I'd be interested to hear!

Can't say it's a problem for me. If it worries you too much I'll gladly give you £30 in English notes for each Scottish 50 quid note. :D

Seriously though, I can't understand why no shops will take them, they're legal tender and should be accepted anywhere in the UK. Take an English note to any Scottish shop and you'll never see this problem.

Just noticed you're from Geordie-land. I've never experienced this problem with banknotes down in Tyne & Wear. I've got dozens of family members down Newcastle and Sunderland, and visit Newcastle regularly, usually with a pocketful of Scottish notes.

[Andy Westcott]

Are scottish notes legal tender?
If so, the shops have to accept them - that's the meaning of legal tender.

Just as an aside, there is a maximum amount of copper coins that constitutes 'legal tender' - I forget how much, but it isn't a lot - 40p or so? Above this a shop, bus driver or whatever isn't legally obliged to accept it in payment.

[DazzyD]

I was waiting for your response, Shaun!

Actually, I'm not from Geordie-land (thankfully!). I'm from Sunderland so I'm from Mackem-land! I don't know what it is round here, but last night the venue wouldn't take it (even though they checked it for me and verified it as genuine), another pub wouldn't take it, the local 24hr garage said no and three shops this morning have refused.

However, there is light at the end of the tunnel cos my brother-in-laws mum is off to Scotland tomorrow and she's gonna change it for me this afternoon! Result!!! :) :) :)

[Shaun]

However, there is light at the end of the tunnel cos my brother-in-laws mum is off to Scotland tomorrow and she's gonna change it for me this afternoon! Result!!! :) :) :)

All's well that ends well. :) :)

[DazzyD]

Andy, as we've said earlier in thread, the term "legal tender" is very narrow in legal technical terms. If you paid something in "legal tender" you would have to pay the correct balance as you couldn't lawfully demand change. And, apparently, no notes are "legal tender" north of the border regardless of where they came from. They are, though, classed as "legal currency" so can be used as payment for goods and services.

No one can be forced to accept any kind of bank note or coin. Acceptance of money in whatever form is purely and agreement between the seller (of goods or services) and the customer. If a seller doesn't want to accept notes or coins for whatever reason then he doesn't have to.

I have to admit to not knowing all of this yesterday. It's amazing what a bit of internet research can do, eh? ;)

[Solitaire Events Ltd]

Just get paid by cheque in advance.

Much less hassle.

[BeerFunk]

Hmm... I'd be willing to accept any British currency, or even Euros, as I'm very confident that I'd be able to spot a counterfeit. Also, it highlights another advantage of being paid in full before powering on... you can have the old bill round to nick them before the night is over! (Joking, of course :sofa:)


With Gordon Brown in charge, it could go one of two ways. With him being a Scot (and, thus, part of a proud nation) it could be worth £millions of English pounds. Or, if the current situation in this country continues, it could be worth about £7.50 next month! (by todays prices - it'll still be worth £50 at next months prices before any smarty-pants jumps in!)I don't want to spark a debate (:D), but I don't think many Scotsmen will tell you that Gordon Brown is very patriotic!

[Ace DJ]

It wouldn't be a problem if you got payment in advance 14 days prior to the event. Either by cheque or as I do a lot of now by direct transfer. I can't understand why some of you guy still work Cash on the night.

[Solitaire Events Ltd]

I can't understand why some of you guy still work Cash on the night.

Cash. Not traceable. Doesn't need to go through a bank account.

I'm not for a moment suggesting that anyone on here does that....:sj:

[rob1963]

I'd be willing to accept any British currency, or even Euros.

I certainly wouldn't accept Euros, partly because they're not our currency, and partly due to the hassle of working out exchange rates (which may have changed by the time you take them to the bank) and the fact that the bank charges a fee to change them.


I'm very confident that I'd be able to spot a counterfeit.

With all due respect, I wouldn't bet on it!

I was handling up to £100,000 a day in English notes for over 20 years, and went on a number of courses showing what to look out for, but a number of duds STILL got past me...so I think the chances of you not noticing a few dodgy Euros would be reasonably high!


Cash. Not traceable. Doesn't need to go through a bank account.

I'm not for a moment suggesting that anyone on here does that....:sj:

If you mean gets paid in cash & doesn't put all of it through a bank account, I do that at least 4 times a week! :eek:

[secretDISCO]

As a Scot living and working in Englandshire i was always under the impression as long as it said "Sterling" on the note it was acceptable.
It maybe just a bit narrow minded of the folks down here as Ive yet to go back to Jock-land and have them saying " Do we take these here" as I pass them an "English" note.
On saying that with an SNP run government in Scotland things may change sooner than you think........with Passport control at Gretna and a new Currency.
The Buckfast
With 10 Buckfasts to one Ned
and 100 Neds to one Chib ( a Chib being an offensive weapon up yonder )
Sounds good to me...........But I think I'll just settle down here thanks.

[Penfold42]

With 10 Buckfasts to one Ned
http://www.stv.tv/archive/images/buckfast-label-close.jpg

:D

Sorry couldn't resist.....:o

[CRAZY K]

Cash. Not traceable. Doesn't need to go through a bank account.

I'm not for a moment suggesting that anyone on here does that....:sj:

It removes the annoying situation where people get the wrong name, forget to sign the cheque or dont date it properly--all of which I have had recently.

CRAZY K

[secretDISCO]

aaaah the tonic wine........and that one looks a good year as well.:beer1:


It removes the annoying situation where people get the wrong name, forget to sign the cheque or dont date it properly--all of which I have had recently.

CRAZY K

or worse......the cheque bounces.:confused:

[Jiggles]

Ahh the good olf Scotish £1 note :D (Yes WE still have em :p)

[JAMdisco]

Take an English note to any Scottish shop and you'll never see this problem.

Sorry Shaun, I have to disagree with you on this one. You'd be surprised how many shops will not accept english £50 notes either. I got paid in english £50's last christmas and when I went to my local, the 'new girl' said she can't take them. I called over the landlord and he was fine with it (as he knew me).

My mum's shop won't accept them either.

[nigelwright7557]

Hi all.

I did a gig last night for the wedding of the daughter of a lottery winner. Everyone was in a good party mood and I had a good dance floor from even before the buffet.

What made the evening different, though, was I got paid in Scottish £50 notes (bearing in mind we're in Tyne & Wear). Now, I had the notes checked with bar staff who used their counterfeit detector and told me they were genuine but it was company policy not to accept them. I've tried a few shops this morning and, basically, been treated as if I was trying to pay with monopoly money or something. My local shopkeeper said the bank will take them no problem but it doesn't open until tomorrow so I've had to withdraw cash at the cashpoint just to get some bread and milk!

In future, I'm going to write it in to my T&Cs that we only accept English banknotes. This will save this hassle although Scottish bank notes are legal currency (but not legal tender, apparently - it's complicated but I've been researching Scottish bank notes this morning!)

So, what would you lot do if you were given Scottish £50 notes as payment? I'd be interested to hear!

I am in Cumbria close to the Scottish border so have the same problem.
I have a couple of bookings across the border in Scotland next month so will probably come home with Scottish cash.

[501damian501]

just pay them into your business bank account or get them changed at a bank, i have worked with £50 notes for years, i think shops dont accepted them because their the most common note to be couterfeited in the uk these days, aswell as dodgy pound coins, just make sure you dont get a powerdry one or one that looks to be bleached in colour..

[DazzyD]

It wouldn't be a problem if you got payment in advance 14 days prior to the event. Either by cheque or as I do a lot of now by direct transfer. I can't understand why some of you guy still work Cash on the night.

I only took the gig on 5 days before the event so payment in advance by cheque wasn't an option. I didn't even take a booking fee. It was a family I knew of (local lottery winner - £2.5m!) at a local venue where we've played 4 times in the past 2 months and each time has been a good night. Plus these guys run a local pub so I'd know where to go if the money was dodgy!

After all this, our lass used it to pay the rent today no problems. Spent! :)

[rob1963]

i have worked with £50 notes for years, i think shops dont accepted them because their the most common note to be couterfeited in the uk these days

As far as I'm aware, it's still £20 notes which are the most commonly counterfeited, and not £50 notes.

I don't think I ever saw a forged £50 note in all my time with the bank.

The reason is simple...£50 notes are our highest value notes, so people spend much more time looking at them to make cure they're real. This makes it harder to pass dodgy ones.

However, the £20 note will be examined much less...which is why so many counterfeits get through without being noticed.

[Jiggles]

Rob there is the odd one or two £100 notes :p

[rob1963]

Not in England, Callum...

...well, not issued by the bank of England, anyway!

[secretDISCO]

Can i have a few of these then???????

http://img.dailymail.co.uk/i/pix/2007/10_04/counterfiters2310_700x680.jpg

:eek: :eek: :eek:

[DazzyD]

Can i have a few of these then???????

http://img.dailymail.co.uk/i/pix/2007/10_04/counterfiters2310_700x680.jpg

:eek: :eek: :eek:

I'm sure I've a few of these in my wallet. They're still there cos NO ONE WILL CHANGE THEM!!! :D :D :D

(or was I just dreaming that?!?)

[CRAZY K]

I'm sure I've a few of these in my wallet. They're still there cos NO ONE WILL CHANGE THEM!!! :D :D :D

(or was I just dreaming that?!?)

Oh yes they will.

Think of a place where Rob used to work:rolleyes:

Begins with B ends in K

Middle letters A and N

:D :D :D

CRAZY K

[rob1963]

Oh yes they will.

Think of a place where Rob used to work:rolleyes:

Begins with B ends in K

Middle letters A and N

:D :D :D

CRAZY K

:D :D :D

[DazzyD]

Did you ever handle any half-a-million-pound bank notes then, Rob? And, if so, were a few eyebrows raised when the customer hands one over?

[rob1963]

Did you ever handle any half-a-million-pound bank notes then, Rob? And, if so, were a few eyebrows raised when the customer hands one over?

Not quite, Dazzy...but I often used to handle around a quarter of a million pounds worth of notes in one day, although not all from one customer!

[Penfold42]

Not quite, Dazzy...but I often used to handle around a quarter of a million pounds worth of notes in one day, although not all from one customer!

:eek: :eek: :eek: :eek: :eek: ......blimey, must have trusted you.....:cool:

[rob1963]

:eek: :eek: :eek: :eek: :eek: ......blimey, must have trusted you.....:cool:

More fool them.

Why do you think I no longer have a mortgage?

:rolleyes:

[soundmaster mobile disco]

I can never understand what all the fuss is about.Money is money,I personally hate it when i travel down to england and pay with a £10 or £20 note and the cashier looks at it as if to say this is not real money!

I just have to accept that it is going to cause problems with you people south of the border.

[Penfold42]

:jawdrop: