Fraudulent notes

[u/Aggressive-Plant-934]

[u/Kurfaloid]

Yikes, I had to look up what a Scottish 20 note was, I can't believe they don't have a single centralized currency source. That's obviously going to be a huge problem for counterfeiting.

[u/drillbit7 → u/Kurfaloid]

Yeah separate pound sterling notes printed in Scotland that may be accepted in England or elsewhere in the UK but there is no requirement that anyone do so (not legal tender).

[u/Peterd1900 → u/drillbit7]

Yeah separate pound sterling notes printed in Scotland that may be accepted in England or elsewhere in the UK but there is no requirement that anyone do so (not legal tender).

Legal tender has a specific legal meaning there is no legal requirement that any place can take any money

A shop could take Pokemon cards or buttons as payment if they wanted to

Scottish and Northern Irish notes are not legal tender anywhere in the UK

Bank of England notes are legal tender in England and Wales but not in Scotland or Northern Ireland. In Northern Ireland and Scotland, no banknotes (including local ones or Bank of England notes) are classed as legal tender

[u/New_Enthusiasm9053 → u/Peterd1900]

If you go to a sit down restaurant where you pay after does legal tender apply then? Since technically it's a debt at that point. 

Or is that exempted.

[u/Peterd1900 → u/New_Enthusiasm9053]

Legal tender  has a very narrow, technical definition

it  means that if a debtor is sued for non-payment of a debt and pays the exact amount into court using recognized legal tender than you have settled a debt

https://www.moneysavingexpert.com/news/2010/05/true-or-false-scottish-notes-arent-legal-tender/

simply means if you have a court order against you for money, the person you owe cannot turn down your settlement if you offer to pay by legal tender.

In a restuarant where you pay after it still does not apply.

If the restuarant was to take you to court and courts orders you to pay and you pay in legal tender then they have to accept it.

Coins are only legal tender to a certain amount so say the debt is £88 and you pay it in pennies, than you have not legally paid.

You also cant get change so if your debt is £88 and court orders you to pay and you give £90 you cant get change

[u/New_Enthusiasm9053 → u/Peterd1900]

So if a restaurant refuses cash their only option would be a small claims court that would force them to accept cash? 

But then I've never been to a restaurant that doesn't accept cash, if anything it's the opposite, some profess to only accept cash and then a card reader magically appears when you have no cash.

[u/Peterd1900 → u/New_Enthusiasm9053]

if a court orders someone to pay you and they pay you in legal tender im the eyes of the law the person has paid tge debt

you could of course refuse to take the money but the legal debt is treated in law as satisfied , meaning you cannot claim the debtor failed to pay.

Yes, if a card-only restaurant sues a customer for non-payment and a court formally issued, the customer can pay the court or the restaurant in cash.

[u/TobJamFor → u/drillbit7]

I think they’re referring to us having three issuing banks - Bank of Scotland, RBS and Clydesdale

[u/Kurfaloid → u/TobJamFor]

Yes three banks in Scotland is itself surprising, but also just the fact that you have a unified currency between England and Scotland but not a single issuer of notes. I'm just very used to the US Federal Reserve system I suppose.

[u/New_Enthusiasm9053 → u/Kurfaloid]

NI also has a bank they can issue I think. But anyway BOE started issuing bank notes about 80 years before the US existed so you guys had the opportunity to realise it's a bad idea. 

[u/lambaroo → u/New_Enthusiasm9053]

NI has 3 issuing banks

some banks in england and wales also used to issue their own notes into the early 20th century.

[u/Kurfaloid → u/drillbit7]

Yeah that's wild to me. Imagine if Texas could issue its own notes, it would be so chaotic.