For simplicity, I've only included the northern Ireland (that continues to be a part of the UK) while discussing the history of regional banks in Ireland, prior to the partition. It's not an issue as long as you talk about the history of banking only in these regions. Including Ireland and its currency (pre/post-partition) would make this video too long and too complicated. 0:50 I guess, I misspoke 'denominator' for 'denomination'.
2:08 “literally worth that” if by that you mean nothing then sure. Let’s all remember our current financial system and notes are backed by nothing by faith. The gold standard is long gone.
I visit Scotland as often as possible, and have no problem accepting Scottish notes, as I have a hassle free way of spending them in England: I just use the self checkout in a supermarket, which accepts any legal UK money.
@@tasnim569 that's a constant around the English world, and I assume the rest of the world. I had problems with notes in self checkouts in Canada, Australia, and New Zealand. Also the US but you covered that one haha.
So you Haven't Heard The Immortal man of the phillipines Enrile The Brother of Jesus who has Known every Historical Events He even had a Pet Dinasour called Brownie in the age of the Dinasours but died because of The Asteroid that Destroyed The Dinasour Race.
A few years ago, my father was on vacation in Scotland. He had Bank of Scotland notes and was soon going to be traveling to London. He asked a bank teller if his Bank of Scotland notes would work in London and the teller told him that they were valid currency, but offered to exchange them for Bank of England notes because “some people in London might look askance at them”.
How much security is actually needed for these? I feel like if it was stolen, it would be very hard to spend, and presumably the bank could mark it as stolen by serial number and make another
Exactly why they dont bother adding any security features to the notes. No-one knows what they are, and everyone that does knows that you shouldnt have them.
They are only valuable to other banks and I can imagine a whole security check needs to be made before they are used, like a meeting between the bank managers and a whole procedure with signatures and checks to transfer the money so they are useless to normal people
It's fine as long as you don't scream at us that Scotland is in the UK when we look at the note. We (shop assistants) have to look to see if it's not fake and is still in circulation. We check all notes but English notes being all the same makes it very quick so customers don't realise we're doing it. There's also the confusion over which way round to put it in the till. Which side is the front?
@@r.brooks5287 its your lots attitude when you take our, fair enough it needs inspected but its like a CID investigation with monopoly money and the English wonder why we really can't be arsed with it... we come across English notes daily, there's a couple in my wallet, I highly doubt that's not the same as England.
@@Mr_Makina No, and that is why it's a problem. Banks should leave more non English notes in circulation in England rather than taking them straight out. Familiarity would make it much easier. In twenty years of similar jobs, I've only dealt with one Bank of Belfast £5 and no other NI notes at all. Also, new Scottish £20s are obvious but telling the still legal older ones from the even older no longer legal ones isn't easy when we don't see either often and the customer is glaring at us. I'm in Lincolnshire so there might be more in circulation further north, but I think it's a case of the banks removing them as soon as they can.
Agreed, I live in the South East and haven’t seen a Scottish note since maybe 2002 and that was only because I was working in London briefly. Even then Scottish notes although valid, would not be accepted by many English people nor would most retailers except them, only banks. It really is a case of the notes are so extremely rare, it is sensible to decline them. Scotland wouldn’t accept notes they weren’t familiar with either
I've been accused of fraud because I had $2 bills. Best buy threatened to call the cops... I asked him he just wanted to Google it really quick or call a manager over... got $10 off my purchase. Nice.
Had Americans look sideways when I used the US $1 coins that came out of a vending machine from the train station in Seattle, it was clear afterwards that Americans don't often deal with $1 coins like the rest of the English world.
@@Jakey4000 very true. we use those weirder things like 2 dollar bills and 1 dollar coins around major transportations hubs and thats about it. im from the seattle area-ish and thats the only place ive ever been given 50 cent pieces and 2 dollar bills. vending machines have the possibility to but... too rare for me to see. gotta hit the bank and make a request for such oddities
Bank of England notes, in England, can also be refused by one party of a transaction, and the government has no power to force them to change their mind. You can literally price your goods in pounds then demand contactless payments only, effectively not recognising paper money as pounds. In the UK, the legal status of cash is just that the issuing authority promises that it is worth what's printed on it at that particular authority. Legal tender means that the government recognises the right of particular authorities to do this, and not others. It's only used in trade if both parties agree to use it as a medium. As a result, it is perfectly legal for someone to demand trading in euros or bitcoin or toilet rolls and not in pounds, and if both parties agree then so be it. This is different from the government issuing money bearing the signatures of treasury secretaries, which the government then enforce must be accepted in trade.
In Scotland at least legal tender means that a payment of a court debt made in that tender cannot be refused. In Scotland that means coins since we have no recognised legal tender notes. But unless the meaning is different South of the border then at the ultimate stage the government can force you to accept payment in legal tender. It's not just about issuing. The Bank of England doesn't issue coins for example, the Royal Mint does. But both coins and BoE notes are legal tender in England. Whereas any can issue Legal Paper or Bills of Exchange (which is the legal status of Scots notes). Companies sometimes also issue bills of exchange for certain things (old fashioned cheques are also Bills of Exchange) but Scottish notes are a special subset with defined legal protections.
@@angusmcewing3557 Yes. Legal tender, in any jurisdiction, also means that if a participating party, either as one of the trading parties or an arbiter, is the government, then the transaction must be in the legal tender. It's when a purely private trade is concerned where the laws may differ.
@@tt-ew7rx Parties can naturally agree any terms they wish, subject to statutory or common law restrictions. But at the end of the day one party either gets paid first or does the work first and if you need to get paid when a party breaks contract you need courts to enforce. A contract doesn't grant the right to be paid, but the right to sue to be paid, as is a well known aphorism amongst contract lawyers.
The Giants and Titans are also used internally within the Bank of England as far as I know. Ordinary notes can only be released for circulation if the requisite Giants and Titans are held.
I work in a supermarket and we’re constantly getting taught to look for any inconsistencies in notes, and know a fiver like the back of our hands, so when you’re given a bank note from not the BoE it’s jarring as you can’t really know if it is counterfeit or not, so we just accept them, plus they look REALLY cool, and think it’s a shame that they aren’t more common
When the Hungarian pengő was replaced by the forint in 1946, all the pengő notes in circulation were worth less than $0.40 USD. The new forint was worth 400 octillion pengő.
If you change notes abroad (if you can) you get a lower exchange rate for Scottish and NI notes than English notes. It’s more the higher fraud risk than actually classing them a less actual value
lol that sounds like what politicians would say. "oh look a 100 million pound note.... haha nah just fucking with you it's your taxes, oh what's that? my wallet? oh silly you, stop looking at me, go do your taxes we need that for [insert lie]!"
Great video - only issue is that Northern Ireland wasn't a separate political entity like it is today at that time, Ireland in its entirity was part of the UK. Northern Ireland was broken off in 1922 and remained part of the UK, when the Irish Free State then came to power south of the border.
In fairness, England & Wales cashiers normally don't accept non Bank of England notes because they are not trained on the security measures used to verify its authenticity. IIRC there is also no law ordering the receipt of ANY decimal pond note, including Bank of England.
in almost thirty years of living in England, I don't know if i ever once saw a scottish bank note. I have seen money from the Isle of Man sometimes, but never from scotland or northern ireland. I think in england there only use is when scottish people visit, use them in a shop, and then the shop deposits them in a bank. They are not really in circulation- you wouldn't get them from an ATM and a shop would not given you any back in your change. I wouldn't know if i saw one if it was real or forged
I bet you didn't know but money from Isle of Man is not legal tender in the UK but because they look the same as the UK ones people accept them anyway as seen lots of Isle of Man coins. But under the law it is not legal tender at all even banks can reject them but they dont as it easy to get rid of as looks identical to the UK ones.
@@AnimatedStoriesWorldwide It's possible. 1850s £100 is worth about £1 today, so in 500 years, it'll be like a whole family earning £1m in their lifetime today. Quite possible for 4 people to earn £250k each in their life - even in low level work. How much you can buy with that currency is another matter.
Also, the Scottish notes were distrusted as they were easier to counterfeit at one point in time. Now, not the case but living up North it was crushing when my £10 was worth 0.
Fact check: the Northern Bank (then owned by an Australian bank, later sold to Danske) was issuing polymer notes at least as far back as 2008. I still have one of them. Edit: I realise you said Clydesdale in 2015 was the first in *GB* but still...
English here, I'm not against Scottish, Welsh or Northern Irish banknotes, in fact I never even knew they existed. I would have probably refused them as a shopkeeper too. Reason, they vary too much from the English pound note so I don't blame shopkeepers for thinking they're not legitimate. Partially to blame is the lack of status, but there is an incredible lack of design consistency. Want proof? Verticle bank notes.
I understand that there are a lot of bank note variations but I don’t want all the bank notes to just be Bank of England as the danske bank, Ulster bank and bank of Ireland notes shows what Northern Ireland is. It’s unique and shows NI not just England 🏴
The Ulster Bank vertical notes actually weren’t the first in the country. Danske Bank (which was then Northern Bank) released a vertical polymer note to commemorate the turn of the millennium. Their production stopped in 2004.
just came from a reddit thread where internet historian gave advice on your channel, amazing to see how your channel grew from 1000 then to 300k now in 2 years
Fantastic video! As an American traveling in the UK last year (2019), I thought it was interesting that after a return trip from Edinburgh to London, the employees behind the counter at a store in London had to discuss if my Scottish bills were legit or not. This clarifies it big times!
There was a large problem a few years ago with criminals trying to pass fake Scottish notes in England. Mainly because they are hardly ever seen south of the boarder so most shop workers wouldn't know what a legit one looks like. (not to mention the 3 different designs) I would accept Scottish and Northern Irish notes but excluding the £1 and £100 denominations which do not exist in bank of England notes (and not all 7 of the others issue them either)
I am English, and have lived here my whole life, and it wasn't until a few months ago that I discovered that they have different banknotes in Scotland. My mind was completely blown
If you're not in London or a tourist area, Google the distance and price of an Uber, then go to any taxi rank and say "Uber says £X, who's willing to drive for that?"
My dad when we visited England loved given his Scottish note to English retailers, when they got rejected he loved reminding him "it's legal Tender!", Like, we were laughing and talking the piss out of them, it was all a laugh usually we just had some English notes on us because the Scottish notes get rejected on a regular basis but we just used them for a laugh because of the English reaction to the notes.
The only reason they reject the notes is on they dont know if it is real or not as they are not taught on what to look for and if they do accept it it really hard to give away as people dont want to be paid back in the note as it is hard to give away to other places and only place to go is a bank or post office as they have to accept it that is the only place you can scream legal tender is bank or post office as they cant reject it. So it is just a pain to have to go to change it over to english note if you have them that is why they dont accept them.
@@giggity4670 Banks and Post Office's can refuse, but don't as per the directive of the Bank of England that they shouldn't (except in certain circumstances). You wouldn't for example by able to go and deposit a note from the 1990s for instance. Even the Bank of England say that anyone can refuse payment though
@@franklingoodwin Ok just looking it up you are right on the banks and post office but on the bank of england site does say Our notes always keep their face value. If your local bank, building society or post office won’t accept them, then you can exchange them with us. as they will always take them even the old £1 notes as i did take one to a barclays bank a while back to test it and they changed it over no problem so the old ones still hold their value and banks rarely dont accept them but the bank of england in london will take them and not refuse to. Plus something interesting on the bank of england site says English banknotes aren’t legal tender in Scotland. Scottish notes aren’t legal tender in England or Scotland i did not know that.
All notes of the same denomination are the same size and colour. Its not really an issue. £1 is green, $5 is blue, £10 is brown, £20 is purple, £50 is, shit dont remember, $100 is red.
Each denomination of note is the same colour, makes it easier. Every country in the EU, that use the Euro, issue their one notes. They're all accepted in every nation in the Eurozone. People who deal with cash, they know what to look out for, or they should. England seems to think it's always the exception.
its the same in Northern Ireland where i am from its easy we have 3 banks that issue their own notes Ulster Bank Danske Bank (used to be called Northern Bank til it was taken over) Bank of Ireland normal bank of england notes circulate alongside these but its all UK pounds and all worth the same
It’s not really a hassle to retail workers in Northern Ireland… it’s only when we go to England and pay for stuff in NI/ Scottish bank notes. They always get confused
I once was given a scottish 10 pound note and Yes I genuinely had never seen one before and questioned if I could even spend it or if it would be accepted as legal currency and I got rid of it as fast as I could by using it at the corner shop. I disagree with the suggestion that they should just use bank of england notes, they made their own stylized currency which has features from their history and culture, we should respect that, we're not here to take away their identify but we definitely need more awareness that their currency exists and is fully usable and should be accepted throughout the UK.
A really excellent video with accurate up to date information. The only thing I may add is that Scottish notes are an 'Authorised' currency and Northern Irish notes are an 'Accepted' currency. Great video 👏
You're right that Clydesdale was the first in GB to issue a polymer note, but Northern Bank (now Danske) in NI was the first in the wider UK to issue one - all the way back in 2000.
People don’t seem to realise that shops do not have to accept currency just because it’s “legal tender”. They could literally decide that they only take payments in potatoes and there’s nothing anyone can do to stop them.
This partly explains why a friend and I were frowned upon when we paid in a Belfast pub using our leftover Enlglish pounds... We were very confused as we were just a couple of southern European tourists having a beer...
Yes, I once got a Bank of Ireland note as change in London. It was close to a week before I found someone who would accept it, and even then the vendor was not happy.
why would using bank of england notes in Northern Ireland be frowned upon? despite its name the Bank of England is the central bank of the UK the Bank of England allow the 3 banks in both Northern Ireland and Scotland to print their own banknotes
I live in Manchester and they occasionally make their way down here, mostly Scottish ones but rarely NI. I also sometimes go to Scotland and have, thus far, not been refused spending Scottish notes back in England except at a vending machine.
It is true tho, I once had a 10 pound Scottish note handed to me, it felt cheap and I had no idea how to check the validity of it. I wish they just used the same template with their own patriots on it, it would help a lot.
It’s honestly because people have never seen one before and most people don’t even know Scottish notes are any differently Bank of England ones. It’s not ‘ignorance’ or anything sinister at all (usually)
@@vuvuvu6291 Not being able to buy something you need like food and water because a person doesn't know/understand it's legal tender is inherently wrong. You ask for their manager as they're usually older and more experienced and they will go yes that's legal tender we take it. I would not feel comfortable taking a Scottish note at a young age because I didn't know there were even any. A customer or me asking for my manager to verify is not being a Karen you utter mug.
I love that they are in maximum security, on the basis you can't even use a 50 quid note without getting laughed at I'd love to see someone try and spend this
You can't as even if you had 100mill you won't be able to get the note as the note has never left the bank ones as it is only use to backup the Scottish and ireland money so no one can get the bank note. And yea the £50 note is a hard one to shift coop normally takes them if you buy over £30 worth but they dont like it as they cant give it back out the till as dont see many people getting over £50 in change back from many shops high end shops will take them like harrods as not much in thier is under £20 really and most the time you have to just take it to a bank as anyone can reject them but some can take it.
Its gotten to the point where English people walking by when your Scottish notes are rejected will occasionally offer to trade you for an English one or change to save the hassle of going to a bank. The amount of times a business has rejected my Scottish notes when ive been on holiday in England is ridiculous. To the point where i have to actively withdraw money in England at the first chance i can when on holiday rather than carry it with me. It shouldn't be like this and is sheer ignorance on English businesses behalf.
its not ignorance of the business, its negligence to train their staff. you have to teach people to identify money so that they can reject fraudulent money, but if you dont teach them about all of the notes, then theyre going to make errors.
@@mrcrbgaming2412 ignorance and negligence are different. lots of businesses know about things they dont care to fix or explore. theyre choosing not to train their staff.
@@jonathanodude6660 What's the point of training staff on 50 different bank notes from 7 different banks and how to tell if they're fraudulent or not when you have the right to refuse it as legal tender?
Yea not really ignorance it is more the point they cant give it back in change as no one want them so they have to bank it only and if you get few bank notes just more money they cant shift back so have to only be banked at the bank as just hassle to use and no one wants to get one as even in schotland they can refuse the bank of england ones if they want to. Think more just plan ahead and like you say just go to a bank or post office to change it as easier that way then change it back to Scottish when back home so saves the hassle.
Before I holidayed in the UK I didn't know that Scotland & N Ireland had different bank note designs (because I'd known them to be all using the £ as well). Maybe that's why I heard that those notes aren't widely accepted at money changers/currency converters outside the UK (due to low international awareness)
lots of Englsih people, like me , will take Scots notes, but I'm a collector so I know what they look like. If more English people knew what they looked like the Scots notes would beaccepted more widely. i think.
I think it's harder to get shops and people to accept English fifties than any Scottish notes. I rarely see Scots notes outside of Scotland, but have almost never seen Irish notes here in England.
As a Scottish person, I can honestly say that if a bank began issuing BoE notes instead, the Scottish people would be very angry. I think this choice might have a lot to do with national identities, but Scotland prefers to differentiate itself from England. I don’t think Scottish notes are going anywhere.
They shouldn't go anywhere... Scotland ain't England, and visa versa. Its a way to show your own culture, and people up North have a completely different one at that!
It's fine, you're welcome to your little fantasies - just don't get it twisted: to play these games, every single pound has to be back by England. We're humouring you, so don't push it, alright?
@@artsed08 and the award for the most English comment goes to you, congrats. Next you’ll be boasting about all the countries you colonised. England really is the greatest country in the world
Honestly if there was just one variant per country it'd actually be simple, you could identify if something was Scottish instead of if something was from the north or south. That and there needs to be better education on money because well, it's a pretty huge problem for tourism if people can't spend their money.
I really like how these islands were shown in different orientations (i.e. not just with North at the top), there's something about it that makes the familiar shapes appear in a new light 😄
*I PRAY THAT ANYONE WHO READS THIS WILL BE SUCCESSFUL IN LIFE.. SUCCESSFUL PEOPLE DON'T BECOME THAT WAY OVERNIGHT. WHAT MOST PEOPLE SEE AT A GLANCE-WEALTH, A GREAT CAREER, PURPOSE IS THE RESULT OF HARD WORK AND HUSTLE OVERTIME.*🙏🏼
The English government has never even attempted to educate English based companies about money from other regions. I’ve lived in the England all my life and I’ve seen Scottish money but I had no idea they had multiple banks printing their money.
For simplicity, I've only included the northern Ireland (that continues to be a part of the UK) while discussing the history of regional banks in Ireland, prior to the partition. It's not an issue as long as you talk about the history of banking only in these regions.
Including Ireland and its currency (pre/post-partition) would make this video too long and too complicated.
0:50 I guess, I misspoke 'denominator' for 'denomination'.
It’s 1 am my guy
I'm the 3rd reply
You guys! 😃 You need to update your Christmas song! 🎄 "it's beginning not to look alot like Christmas" we need a new one :D ♥ 🎄
2:08 “literally worth that” if by that you mean nothing then sure. Let’s all remember our current financial system and notes are backed by nothing by faith. The gold standard is long gone.
@@NocturnalDoom The entire concept of money is backed only by the mutual agreement of everyone that it’s worth something. Your point being?
It would really make my day to find one of those on the floor
Facts
Got change?
Your day or your whole live
@@user-rt6ij3rz5y 😂
funnier would be exchanging it into smaller notes
I visit Scotland as often as possible, and have no problem accepting Scottish notes, as I have a hassle free way of spending them in England: I just use the self checkout in a supermarket, which accepts any legal UK money.
Except £50
say what you want about self checkouts but they won’t judge your money! 😅
@@thea1990x I don’t know, some of them are utter shithouses when it comes to coins, or if the note has a slight crease 🤣
@@Getslashfucked same with self checkout in the US its so picky
@@tasnim569 that's a constant around the English world, and I assume the rest of the world. I had problems with notes in self checkouts in Canada, Australia, and New Zealand. Also the US but you covered that one haha.
**slaps the Titan on the counter**
"Give me a Whopper. With bacon. And make it snappy."
Sorry we dont do change so we will give u a free chocolate bar instead
Thats your £99,999,993 in change
@@kappen5902 cashier : and a lifetime of free burger King meals
Bacon Cheese whopper no onion please
@@Amlaeuxrai me reading this comment : 🤣🤣🤣🤣
Title*"Why the UK has 100 Million Pound Banknotes"
Simple reason-"They represent age of the Queen."
God save the Queen
Absolutely
God damn poor Charles
So you Haven't Heard The Immortal man of the phillipines Enrile The Brother of Jesus who has Known every Historical Events He even had a Pet Dinasour called Brownie in the age of the Dinasours but died because of The Asteroid that Destroyed The Dinasour Race.
@@theimperialinquisition5009 immortal means can't die his not immortal if his dead lmao
I’m Scottish and the amount of times someone has said in England “sorry we don’t accept euros”
xD some of us are built different
They are fools -- the € is a far safer bet than the £!
@@keithparker2206 what?
The Euro, in England is about as much a legal tender as the American Dollar.... it's not.
@@JasonCoulls Only that he was trying to pay with scottish pounds, which where mistaken for euros by the english.
If you ever feel like a failure:
Just go to Zimbabwe, where eight year olds are trillionaires
I'm from Zimbabwe 😂
@@IN-pr3lw :V
@@IN-pr3lw How much money do you have?
we got 50 cent. they got 50 trillion dollars.
@@Kyzerii you not we
A few years ago, my father was on vacation in Scotland. He had Bank of Scotland notes and was soon going to be traveling to London. He asked a bank teller if his Bank of Scotland notes would work in London and the teller told him that they were valid currency, but offered to exchange them for Bank of England notes because “some people in London might look askance at them”.
yeah lad cant get your hair cut with a scottish note
@@JackeyBoyyy yeah. You can use em in Asda and Tesco, and that.. but not in local shops
How much security is actually needed for these? I feel like if it was stolen, it would be very hard to spend, and presumably the bank could mark it as stolen by serial number and make another
Exactly why they dont bother adding any security features to the notes. No-one knows what they are, and everyone that does knows that you shouldnt have them.
They aren’t legal tender, so the premise is all wrong. Their no different to a promissory note
They are only valuable to other banks and I can imagine a whole security check needs to be made before they are used, like a meeting between the bank managers and a whole procedure with signatures and checks to transfer the money so they are useless to normal people
Only British people know the anxiety that builds up whilst you're waiting in line to pay with a Scottish bank note in England 😂
It's fine as long as you don't scream at us that Scotland is in the UK when we look at the note. We (shop assistants) have to look to see if it's not fake and is still in circulation. We check all notes but English notes being all the same makes it very quick so customers don't realise we're doing it. There's also the confusion over which way round to put it in the till. Which side is the front?
@@r.brooks5287 its your lots attitude when you take our, fair enough it needs inspected but its like a CID investigation with monopoly money and the English wonder why we really can't be arsed with it... we come across English notes daily, there's a couple in my wallet, I highly doubt that's not the same as England.
@@Mr_Makina No, and that is why it's a problem. Banks should leave more non English notes in circulation in England rather than taking them straight out. Familiarity would make it much easier. In twenty years of similar jobs, I've only dealt with one Bank of Belfast £5 and no other NI notes at all. Also, new Scottish £20s are obvious but telling the still legal older ones from the even older no longer legal ones isn't easy when we don't see either often and the customer is glaring at us. I'm in Lincolnshire so there might be more in circulation further north, but I think it's a case of the banks removing them as soon as they can.
@@r.brooks5287 i live in the North East and its the exact same, I've seen Scottish notes maybe a handful of times while in England.
Agreed, I live in the South East and haven’t seen a Scottish note since maybe 2002 and that was only because I was working in London briefly. Even then Scottish notes although valid, would not be accepted by many English people nor would most retailers except them, only banks. It really is a case of the notes are so extremely rare, it is sensible to decline them. Scotland wouldn’t accept notes they weren’t familiar with either
Whered you go
I've been accused of fraud because I had $2 bills. Best buy threatened to call the cops... I asked him he just wanted to Google it really quick or call a manager over... got $10 off my purchase. Nice.
Had Americans look sideways when I used the US $1 coins that came out of a vending machine from the train station in Seattle, it was clear afterwards that Americans don't often deal with $1 coins like the rest of the English world.
@@Jakey4000 very true. we use those weirder things like 2 dollar bills and 1 dollar coins around major transportations hubs and thats about it. im from the seattle area-ish and thats the only place ive ever been given 50 cent pieces and 2 dollar bills. vending machines have the possibility to but... too rare for me to see. gotta hit the bank and make a request for such oddities
Bank of England notes, in England, can also be refused by one party of a transaction, and the government has no power to force them to change their mind. You can literally price your goods in pounds then demand contactless payments only, effectively not recognising paper money as pounds. In the UK, the legal status of cash is just that the issuing authority promises that it is worth what's printed on it at that particular authority. Legal tender means that the government recognises the right of particular authorities to do this, and not others. It's only used in trade if both parties agree to use it as a medium. As a result, it is perfectly legal for someone to demand trading in euros or bitcoin or toilet rolls and not in pounds, and if both parties agree then so be it. This is different from the government issuing money bearing the signatures of treasury secretaries, which the government then enforce must be accepted in trade.
In Scotland at least legal tender means that a payment of a court debt made in that tender cannot be refused. In Scotland that means coins since we have no recognised legal tender notes. But unless the meaning is different South of the border then at the ultimate stage the government can force you to accept payment in legal tender. It's not just about issuing. The Bank of England doesn't issue coins for example, the Royal Mint does. But both coins and BoE notes are legal tender in England. Whereas any can issue Legal Paper or Bills of Exchange (which is the legal status of Scots notes). Companies sometimes also issue bills of exchange for certain things (old fashioned cheques are also Bills of Exchange) but Scottish notes are a special subset with defined legal protections.
@@angusmcewing3557 Yes. Legal tender, in any jurisdiction, also means that if a participating party, either as one of the trading parties or an arbiter, is the government, then the transaction must be in the legal tender. It's when a purely private trade is concerned where the laws may differ.
@@tt-ew7rx Parties can naturally agree any terms they wish, subject to statutory or common law restrictions. But at the end of the day one party either gets paid first or does the work first and if you need to get paid when a party breaks contract you need courts to enforce. A contract doesn't grant the right to be paid, but the right to sue to be paid, as is a well known aphorism amongst contract lawyers.
Like paying for something in 1p coins.
@@Bear-Seek-Seek-Lest Imagine buying a new Tesla using 1p coins...
pls upload again :(
The Giants and Titans are also used internally within the Bank of England as far as I know. Ordinary notes can only be released for circulation if the requisite Giants and Titans are held.
Bro why no more videos??
I work in a supermarket and we’re constantly getting taught to look for any inconsistencies in notes, and know a fiver like the back of our hands, so when you’re given a bank note from not the BoE it’s jarring as you can’t really know if it is counterfeit or not, so we just accept them, plus they look REALLY cool, and think it’s a shame that they aren’t more common
@Keltic D wasn't it 9/10 coins were fake??
When the Hungarian pengő was replaced by the forint in 1946, all the pengő notes in circulation were worth less than $0.40 USD. The new forint was worth 400 octillion pengő.
Edited to add: I misread the OP, people have rightfully corrected me, I'll leave my original comment below for context
1 pengő = 0.40 USD
1 forint = 400 octillion pengő
then:
1 forint= 0.40 USD/pengő ×400 octillion pengő = 160 octillion USD
I sincerely doubt that's correct
@@nienke7713 They said all the notes in circulation were worth 40 cents in total, not a single one
@@nienke7713 No. Every pengo in circulation in the entire country combined=
@@circuit10 ah, thanks, I misread that, then it makes more sense
If you change notes abroad (if you can) you get a lower exchange rate for Scottish and NI notes than English notes. It’s more the higher fraud risk than actually classing them a less actual value
Imagine finding a note on the floor so you pick it up and it says it’s a 100 million pound note
lol that sounds like what politicians would say.
"oh look a 100 million pound note.... haha nah just fucking with you it's your taxes, oh what's that? my wallet? oh silly you, stop looking at me, go do your taxes we need that for [insert lie]!"
@@svampebob007 too true labour seem to be pretty good with that I would say they are one of a kind with the old where has my taxes gone game
i'd just bring it back to the bank of england and request compensation. they'd probably give quite a bit as they just got an OP Titan back
You'd never able to pick it up because it weighs 100 million pounds.
And then u put it in the bin because you think it is fake
1:58 - Well that aged well. Inflation now at 10%
UK: has 100 million note
Zimbabwe: Hold my beer
Germany: No no no..... Hold MY beer. ;)
Hungary:
Hold my hungriness
100,000,000,000,000,000,000 dollar bill
Oh damn, you know its serious when the German says hold my beer!
Venezuela : Hold my tequila senõr
@@TexasBoyDrew:
More like, hold my Ron, Señor.
Rum (Ron) is the drink of choice in Venezuela.
Where's this channel gone?
When i lived in zimbabwe I was once richer than Jeff bezos, until I bought bread 🍞
Hyperinflation lol
Sounds like you did the worst deal in history.
This another case of UK's neocolonialism in Zimbabwe. They try it in Hong Kong. They failed
Jeff bezos:hold my amazon bread prime
You mean occupied Rhodesia ?
Great video - only issue is that Northern Ireland wasn't a separate political entity like it is today at that time, Ireland in its entirity was part of the UK. Northern Ireland was broken off in 1922 and remained part of the UK, when the Irish Free State then came to power south of the border.
@@therealdave06 The pinned comment was made after mine, check the timing
@@Peter-iq9yy I swear yours said 1 day ago as well. Oh well sorry
@@therealdave06 -better be-
In fairness, England & Wales cashiers normally don't accept non Bank of England notes because they are not trained on the security measures used to verify its authenticity.
IIRC there is also no law ordering the receipt of ANY decimal pond note, including Bank of England.
in almost thirty years of living in England, I don't know if i ever once saw a scottish bank note. I have seen money from the Isle of Man sometimes, but never from scotland or northern ireland. I think in england there only use is when scottish people visit, use them in a shop, and then the shop deposits them in a bank. They are not really in circulation- you wouldn't get them from an ATM and a shop would not given you any back in your change. I wouldn't know if i saw one if it was real or forged
I bet you didn't know but money from Isle of Man is not legal tender in the UK but because they look the same as the UK ones people accept them anyway as seen lots of Isle of Man coins. But under the law it is not legal tender at all even banks can reject them but they dont as it easy to get rid of as looks identical to the UK ones.
Whe r u man come back :(
Ayo where r u at?
Imagine shopping in Sainsburys and giving a million pound note.
*Britain hasnt has any serious inflation in ages* laughs in lizz truss
Imagine owning a piece of paper worth more than my whole family’s life earnings
Imagine if you lost it
Yeah it's called a £1 note in Scotland
Your entire family tree*
Imagine thinking your family's earning will reach 100 million within 500 years...
@@AnimatedStoriesWorldwide It's possible. 1850s £100 is worth about £1 today, so in 500 years, it'll be like a whole family earning £1m in their lifetime today. Quite possible for 4 people to earn £250k each in their life - even in low level work. How much you can buy with that currency is another matter.
Bout to head into my local store and buy 50p gum and ask for 99mil in cash.
Damn man... I'm like uh, a collector... Can I have one just to like... Collect?
if you have a few million bob sure
I have a replica :)
Also, the Scottish notes were distrusted as they were easier to counterfeit at one point in time. Now, not the case but living up North it was crushing when my £10 was worth 0.
Theres more fake english note than scottish notes.
@@richardgribbin9641 ok mr bank of england
@@darrenstrathdee7425 Why are you so mad?
@@d544 hes probably a snp supporter who's mad you spoke of Scotland
When u buy 1,000,000 pound bill for only 69,000 pound
STONKS
Now try finding a place to spend it...
@@JerKKeR Good morning, Airbus .
Yeah i would like to ask about a plane for like 100m
Airbus: 100m r u kidding me go and cry in ur poverty
"Yeah, hello Airbus, i would like to buy an A320, don't worry, i'll pay in cash."
Didn't he say it's legal tender? Doesn't that mean banks need to accept it?
@@mattw4211 oh my god that’s so smart, making 900000 pound profit and putting it in the bank
Fact check: the Northern Bank (then owned by an Australian bank, later sold to Danske) was issuing polymer notes at least as far back as 2008. I still have one of them.
Edit: I realise you said Clydesdale in 2015 was the first in *GB* but still...
I wouldn't say no to a £100,000,000 banknote
But what about a £1,000,000 banknote?
@@seneca983 I'll take your entire stock
Yeah but try getting change at the corner shop.
@@neilfranklin5644 Go down the local Ferrari dealership or high-end auction house.
English here, I'm not against Scottish, Welsh or Northern Irish banknotes, in fact I never even knew they existed. I would have probably refused them as a shopkeeper too. Reason, they vary too much from the English pound note so I don't blame shopkeepers for thinking they're not legitimate. Partially to blame is the lack of status, but there is an incredible lack of design consistency. Want proof? Verticle bank notes.
I understand that there are a lot of bank note variations but I don’t want all the bank notes to just be Bank of England as the danske bank, Ulster bank and bank of Ireland notes shows what Northern Ireland is. It’s unique and shows NI not just England 🏴
pretty sure ive seen (pictures of) vertical euros.
The Ulster Bank vertical notes actually weren’t the first in the country. Danske Bank (which was then Northern Bank) released a vertical polymer note to commemorate the turn of the millennium. Their production stopped in 2004.
Buys a pack of gum. "Yeah, I'm going need change for that Titan."
just came from a reddit thread where internet historian gave advice on your channel, amazing to see how your channel grew from 1000 then to 300k now in 2 years
How can I find the reddit you're talking about?
Fantastic video! As an American traveling in the UK last year (2019), I thought it was interesting that after a return trip from Edinburgh to London, the employees behind the counter at a store in London had to discuss if my Scottish bills were legit or not. This clarifies it big times!
Yeah I work in a store and I accept them because I’m not an idiot but most people are so I apologise about that haha
There was a large problem a few years ago with criminals trying to pass fake Scottish notes in England. Mainly because they are hardly ever seen south of the boarder so most shop workers wouldn't know what a legit one looks like. (not to mention the 3 different designs)
I would accept Scottish and Northern Irish notes but excluding the £1 and £100 denominations which do not exist in bank of England notes (and not all 7 of the others issue them either)
I am English, and have lived here my whole life, and it wasn't until a few months ago that I discovered that they have different banknotes in Scotland. My mind was completely blown
Happens all the time when I go to England to see my family. They always think my northern Irish notes are fake
I'll need one of those notes to pay my gas bill this winter.
Imagine buying a pack of chewing gum with one of these 😂
And then the cashier has to give you back the change
Let’s make a bank of Wales! With glorious dragons on all of the notes!
But the coins.. are shaped like dragon scales
Local grocery store, "For the 1000th time, No, we can't break it and no you can't owe us!"
Where have you gone
MrBeast's next video: Tipping a waitress with £100 million note in England.
£100 million pound not is no longer used anymore.
the titan would still only get me 5 meters in a black cab
If you're not in London or a tourist area, Google the distance and price of an Uber, then go to any taxi rank and say "Uber says £X, who's willing to drive for that?"
My dad when we visited England loved given his Scottish note to English retailers, when they got rejected he loved reminding him "it's legal Tender!", Like, we were laughing and talking the piss out of them, it was all a laugh usually we just had some English notes on us because the Scottish notes get rejected on a regular basis but we just used them for a laugh because of the English reaction to the notes.
Lol. There's no such thing as "legal tender". You knew this but they didn't
The only reason they reject the notes is on they dont know if it is real or not as they are not taught on what to look for and if they do accept it it really hard to give away as people dont want to be paid back in the note as it is hard to give away to other places and only place to go is a bank or post office as they have to accept it that is the only place you can scream legal tender is bank or post office as they cant reject it. So it is just a pain to have to go to change it over to english note if you have them that is why they dont accept them.
@@giggity4670 Banks and Post Office's can refuse, but don't as per the directive of the Bank of England that they shouldn't (except in certain circumstances). You wouldn't for example by able to go and deposit a note from the 1990s for instance. Even the Bank of England say that anyone can refuse payment though
@@franklingoodwin Ok just looking it up you are right on the banks and post office but on the bank of england site does say Our notes always keep their face value. If your local bank, building society or post office won’t accept them, then you can exchange them with us. as they will always take them even the old £1 notes as i did take one to a barclays bank a while back to test it and they changed it over no problem so the old ones still hold their value and banks rarely dont accept them but the bank of england in london will take them and not refuse to. Plus something interesting on the bank of england site says English banknotes aren’t legal tender in Scotland. Scottish notes aren’t legal tender in England or Scotland i did not know that.
@@franklingoodwin why can't you?
I'm from Canada, but I only guess what a nightmare retail workers in Scotland have to deal with handling multiple types, sizes, designs of currency.
All notes of the same denomination are the same size and colour. Its not really an issue. £1 is green, $5 is blue, £10 is brown, £20 is purple, £50 is, shit dont remember, $100 is red.
Each denomination of note is the same colour, makes it easier. Every country in the EU, that use the Euro, issue their one notes. They're all accepted in every nation in the Eurozone. People who deal with cash, they know what to look out for, or they should. England seems to think it's always the exception.
its the same in Northern Ireland where i am from its easy we have 3 banks that issue their own notes
Ulster Bank
Danske Bank (used to be called Northern Bank til it was taken over)
Bank of Ireland
normal bank of england notes circulate alongside these but its all UK pounds and all worth the same
It’s not really a hassle to retail workers in Northern Ireland… it’s only when we go to England and pay for stuff in NI/ Scottish bank notes. They always get confused
Found your channel though the Australian airline heist. Really nice channel loved it. Subscribed it and alec's channel as well.
For those coming here in 2022, I will save you having to watch the whole video.
The £1m notes exist so that we can pay our electric bill with 1 note.
Its been 6 months my dude, gib more video!
I once was given a scottish 10 pound note and Yes I genuinely had never seen one before and questioned if I could even spend it or if it would be accepted as legal currency and I got rid of it as fast as I could by using it at the corner shop. I disagree with the suggestion that they should just use bank of england notes, they made their own stylized currency which has features from their history and culture, we should respect that, we're not here to take away their identify but we definitely need more awareness that their currency exists and is fully usable and should be accepted throughout the UK.
Imagine trying to buy a sandwich at a corner store and only having a £100,000,000 bank note 😂 "do you have change for this?"
“Hold on, lemme just ask every cashier in town real quick”
Let me call the prime minister real quick
Let me call the queen real quick
Lemme call God real quick
let me call everyone from existence real quick
A really excellent video with accurate up to date information. The only thing I may add is that Scottish notes are an 'Authorised' currency and Northern Irish notes are an 'Accepted' currency. Great video 👏
Im a Serb, i have some Venezuela money in my inflation banknotes collection, found them on a sidewalk once, guess we just attract inflation lol
You're right that Clydesdale was the first in GB to issue a polymer note, but Northern Bank (now Danske) in NI was the first in the wider UK to issue one - all the way back in 2000.
Zimbabwe : I am capable of holding my beer just pay my bills
We might get to use the 1 million note in 2023
"This is Zimbabwe's 100 trillion dollar note equivalent to a whopping 40 US cents"
Imagine the look the bus driver would give if you showed up with one of these
What happened to this channel?
People don’t seem to realise that shops do not have to accept currency just because it’s “legal tender”. They could literally decide that they only take payments in potatoes and there’s nothing anyone can do to stop them.
This partly explains why a friend and I were frowned upon when we paid in a Belfast pub using our leftover Enlglish pounds...
We were very confused as we were just a couple of southern European tourists having a beer...
Yes, I once got a Bank of Ireland note as change in London. It was close to a week before I found someone who would accept it, and even then the vendor was not happy.
As an Australian travelling the UK, we were told our English pounds weren't going to be accepted in Scotland
why would using bank of england notes in Northern Ireland be frowned upon? despite its name the Bank of England is the central bank of the UK the Bank of England allow the 3 banks in both Northern Ireland and Scotland to print their own banknotes
@@stephenbeyer4315 bullshit I live in Northern Ireland and Bank of England notes circulate here normally
Absolutely untrue, I live in Northern Ireland and English notes are common here
Audible is actually not bad, thank you for linking me
The constantly rotating map is the most stressful part of this video.
6:54 aside that it’s illegal to obtain any private institution and individuals to have that cash it should be somewhere on the vaults in BoE only
I'm a brit but I have never seen/ herd of these notes before. The more you know I guess
I live in Manchester and they occasionally make their way down here, mostly Scottish ones but rarely NI. I also sometimes go to Scotland and have, thus far, not been refused spending Scottish notes back in England except at a vending machine.
Same here. You learn something new everyday
It's only used for internal accounting. They wouldn't work if you attempted to use them in public.
@@bobsemple7660 indeed.
fukin illiterate
It is true tho, I once had a 10 pound Scottish note handed to me, it felt cheap and I had no idea how to check the validity of it. I wish they just used the same template with their own patriots on it, it would help a lot.
Oh boy this didnt age well
I get an audible ad at the very start and then i get a "this video is sponsored by Audible"
Paying with my Scottish notes in England is such a stressful ordeal.
It’s honestly because people have never seen one before and most people don’t even know Scottish notes are any differently Bank of England ones. It’s not ‘ignorance’ or anything sinister at all (usually)
So, when you were turned down, how do you exchange the money for English notes?
@@vuvuvu6291 you don’t you just tell them it’s legal they ask their manager and usually that’s it
@@rugbyjames3718 so, you just go Karen about it 😂
@@vuvuvu6291 Not being able to buy something you need like food and water because a person doesn't know/understand it's legal tender is inherently wrong. You ask for their manager as they're usually older and more experienced and they will go yes that's legal tender we take it. I would not feel comfortable taking a Scottish note at a young age because I didn't know there were even any. A customer or me asking for my manager to verify is not being a Karen you utter mug.
I love that they are in maximum security, on the basis you can't even use a 50 quid note without getting laughed at I'd love to see someone try and spend this
You can't as even if you had 100mill you won't be able to get the note as the note has never left the bank ones as it is only use to backup the Scottish and ireland money so no one can get the bank note. And yea the £50 note is a hard one to shift coop normally takes them if you buy over £30 worth but they dont like it as they cant give it back out the till as dont see many people getting over £50 in change back from many shops high end shops will take them like harrods as not much in thier is under £20 really and most the time you have to just take it to a bank as anyone can reject them but some can take it.
Its gotten to the point where English people walking by when your Scottish notes are rejected will occasionally offer to trade you for an English one or change to save the hassle of going to a bank. The amount of times a business has rejected my Scottish notes when ive been on holiday in England is ridiculous. To the point where i have to actively withdraw money in England at the first chance i can when on holiday rather than carry it with me. It shouldn't be like this and is sheer ignorance on English businesses behalf.
its not ignorance of the business, its negligence to train their staff. you have to teach people to identify money so that they can reject fraudulent money, but if you dont teach them about all of the notes, then theyre going to make errors.
@@jonathanodude6660 so..ignorance of the business
@@mrcrbgaming2412 ignorance and negligence are different. lots of businesses know about things they dont care to fix or explore. theyre choosing not to train their staff.
@@jonathanodude6660 What's the point of training staff on 50 different bank notes from 7 different banks and how to tell if they're fraudulent or not when you have the right to refuse it as legal tender?
Yea not really ignorance it is more the point they cant give it back in change as no one want them so they have to bank it only and if you get few bank notes just more money they cant shift back so have to only be banked at the bank as just hassle to use and no one wants to get one as even in schotland they can refuse the bank of england ones if they want to. Think more just plan ahead and like you say just go to a bank or post office to change it as easier that way then change it back to Scottish when back home so saves the hassle.
Any new episodes soon???
Danske Bank is a danish bank. Its name literally means: Danish Bank.
Yea but for some reason Ireland also got Danske Bank
@@Emil215p Danske Bank took over the Northern Irish bank Northern Bank.
@@Emil215p It's a big bank.
Wow Interesting, Danske Bank prints NI bank notes because it took over northern bank.
Thank you for this vital information Simon
Rip the the queen :(
Before I holidayed in the UK I didn't know that Scotland & N Ireland had different bank note designs (because I'd known them to be all using the £
as well). Maybe that's why I heard that those notes aren't widely accepted at money changers/currency converters outside the UK (due to low international awareness)
they are worth the same
As Welsh I feel so left out.
lots of Englsih people, like me , will take Scots notes, but I'm a collector so I know what they look like. If more English people knew what they looked like the Scots notes would beaccepted more widely. i think.
I think it's harder to get shops and people to accept English fifties than any Scottish notes. I rarely see Scots notes outside of Scotland, but have almost never seen Irish notes here in England.
in retail, you are told not to take any none English notes
@PowerMoves2 I have worked in retail and we were told never to take them
What's with the map's orientation?
As a Scottish person, I can honestly say that if a bank began issuing BoE notes instead, the Scottish people would be very angry. I think this choice might have a lot to do with national identities, but Scotland prefers to differentiate itself from England. I don’t think Scottish notes are going anywhere.
They shouldn't go anywhere... Scotland ain't England, and visa versa. Its a way to show your own culture, and people up North have a completely different one at that!
It's fine, you're welcome to your little fantasies - just don't get it twisted: to play these games, every single pound has to be back by England. We're humouring you, so don't push it, alright?
@@artsed08 and the award for the most English comment goes to you, congrats. Next you’ll be boasting about all the countries you colonised. England really is the greatest country in the world
Sure. Whatever gives you the illusion of being an independent nation.
Bro why are you in hiatus, we are literally waiting for your new videos. Please respond to us, fans with new content and will make our day, surely!
Imagine finding this note in a bank on the floor
1:27 heard that one somewhere ?
Best part they put the "specimen" watermark on it.Yea like anyone is ever gonna counterfit that bad boy
Fun fact; Northern Bank released 2 million £5 polymer notes in Northern Ireland in 1999, to commentate the millennium.
They are also vertical.
Honestly if there was just one variant per country it'd actually be simple, you could identify if something was Scottish instead of if something was from the north or south.
That and there needs to be better education on money because well, it's a pretty huge problem for tourism if people can't spend their money.
this was lovely to watch with the queen R.I.P our lady.
I love how parts of the video include all of Ulster in the UK, very based Mr Sidenote
Attendant: How would you like to pay for your milk sir?
Rich person: With this 100 million pound note, I assume you have change?
I really like how these islands were shown in different orientations (i.e. not just with North at the top), there's something about it that makes the familiar shapes appear in a new light 😄
me looking ate the title : we have what now
*I PRAY THAT ANYONE WHO READS THIS WILL BE SUCCESSFUL IN LIFE.. SUCCESSFUL PEOPLE DON'T BECOME THAT WAY OVERNIGHT. WHAT MOST PEOPLE SEE AT A GLANCE-WEALTH, A GREAT CAREER, PURPOSE IS THE RESULT OF HARD WORK AND HUSTLE OVERTIME.*🙏🏼
Natural, there’s a lot of math involved in forex trading,
but this is often presented in forms of daunting technical charts, indicators, patterns.
Trading systems allow you to limit the factor of emotional influence on decision-making,
as well as to give the trade a certain degree of systemic character.
This is very correct and good,
Whoever bought that million pound note for just £69,000 sure purchased a bargain!
for real dude
Why on earth would you flip the map 90°?
Because Great Britain fits better on a 16:9 screen? How is a map of Chile shown on a screen in that country?
The English government has never even attempted to educate English based companies about money from other regions. I’ve lived in the England all my life and I’ve seen Scottish money but I had no idea they had multiple banks printing their money.
they isn't an English government
probably because there isnt an english government to do that.