Clydesdale Bank will exchange all Scottish banknotes for its own customers with a £250 allowance for non-customers. You can exchange old paper banknotes at your bank branch with Bank of Scotland by accepting their customers` deposits of paper banknotes issued by a Scottish bank and exchanging them for customers and non-customers for information on the exchange of withdrawn banknotes, Scottish and Northern Irish banknotes and other topics can be found in our Banknotes section. From that date, companies and businesses are no longer required to accept paper notes. There are also restrictions on the use of small parts. For example, 1p and 2p coins only count as legal tender for any amount up to 20p. This is the last week that our paper tickets can still be used. 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 Paper banknotes have been replaced by polymer versions that are already in circulation. 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. The Bank of Scotland said customers will be able to deposit their paper notes into their accounts as usual after the September 30 deadline, while non-Bank of Scotland customers will be able to exchange paper notes up to a value of £250 in polymer version. The deadline coincides with the Banks of England`s deadline to withdraw £20 and £50 banknotes from circulation, which is also 30 September.
After September 30, 2022, you will no longer be able to use paper tickets. However, the following options remain available: The Bank of England has also stated that it is easier to detect a counterfeit note with the polymer version compared to paper notes. Sarah John, Chief Treasurer of the Bank of England, said: “The £50 polymer note is the Bank of England`s safest banknote to date, and the banknote`s features make it very difficult to counterfeit. But the Scottish newspaper`s notes will continue to be accepted, according to the Scottish Bankers Committee, as reported in the Daily Record earlier this year. Swiss Post will continue to accept paper tickets after the deadline, as will some construction companies. On July 1, 2021, a new 50-pound polymer note was introduced to replace paper notes with the Falkirk wheel and Kelpies. Unlike the paper note, it is red instead of green.  This decision comes just over a year after the new 50-pound polymer banknotes – depicting portraits of Sir Walter Scott and Flora Stevenson – were put into circulation. 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.
You may have heard someone in a store say, “But it`s legal tender!” Most people think this means that the store has to accept the payment form. But this is not the case. The last banknotes to be withdrawn from use are paper banknotes worth £20 and £50, meaning people could be prevented from using them from 1 October. 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. “People who are not Bank of Scotland customers can visit a Bank of Scotland branch and exchange £20 and £50 banknotes for polymer versions worth £250.” The £20 and £50 notes are the last to be withdrawn from circulation, as the £5 and £10 paper notes were withdrawn from circulation on 2 March 2018. RBS explains that customers can exchange old coins and banknotes for newer coins. The Royal Bank of Scotland (RBS) states on its website that, unlike the Bank of England, paper notes are still considered legal, but businesses and businesses may no longer be required to accept paper notes from that date. If they accept them, it is at the discretion of the company. “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.” Scottish polymer banknotes now account for around 90% of the 20% and 50% of the £50 banknotes in circulation in Scotland. Scottish paper banknotes are being withdrawn from circulation as the polymer becomes increasingly popular due to its longevity.
Bank of Scotland, Clydesdale Bank and Royal Bank of Scotland will withdraw their £20 and £50 paper notes on 30 September. The Scottish paper notes of the Bank of Scotland, Clydesdale Bank and the Royal Bank of Scotland were withdrawn from circulation and the delay was only a few days. Before that happens, we design a new ticket and start issuing it. Our tickets always keep their face value. If your local bank, construction company or post office does not accept them, you can exchange them with us. As a royal bank of Scotland Bank customer, you can exchange banknotes in circulation or deposit them into your account and replace them with new ones. If you want to exchange banknotes at the post office, you need to check that your bank is registered to receive cash deposits. Swiss Post will then deposit the money into your account, which you can then withdraw. Since 2015, polymer banknotes have replaced newly printed banknotes due to new security features and environmental benefits due to their longevity. 257 million paper notes worth £5.1 billion (as of 9 September 2022) and 118 million 50 pounds of paper worth £5.9 billion (as of 9 September 2022) are still in circulation. 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.
The tercentenary series of Bank of Scotland banknotes was introduced in 1995 and is named after the three hundredth anniversary of the bank`s founding, which took place that year. Each note shows a portrait of Walter Scott on the front. The £50 note has a triangle on the front (other names of different shapes) to facilitate the identification of people with visual impairments. The reverse shows a photo of The Mound, the location of the bank`s headquarters. Each denomination also features a rear design that reflects a specific aspect of Scottish industry and society. On the £50 note, the rear design depicts Scotland`s achievements in art and culture. Three icons appear on the right side of the note`s back. These are (from top to bottom) Pallas, goddess of weaving (symbol of the British Linen Bank, which merged with the Bank of Scotland in 1971), a saltire with gilded bezants (part of the bank`s coat of arms) and Schiff (symbol of the Union Bank of Scotland, which merged with the Bank of Scotland in 1955).  The Bridges banknote series was introduced in 2007 to replace the Tercentenary series.