Anywhere, have any Scottish Bank Notes in pocket.
Have you any money in your pocket?
Bring it out and let’s investigate Dunfermline’s links.
Clydesdale Bank £5 – William Arrol and Forth Bridge his firm constructed – connecting Fife to Edinburgh and West Lothian
Clydesdale Bank £20 – King Robert the Bruce portrait – buried in Dunfermline Abbey
Bank of England £10 – Adam Smith, economist born in nearby Kirkcaldy
Bank of Scotland £20 – Forth Bridge, connecting Fife to Edinburgh and West Lothian
Royal Bank of Scotland £10 – Mary Somerville and Burntisland beach where she grew up – near Dunfermline
Currency in Scotland can confuse visitors, including those from England!
Until King David, I reign (1124-1153) Scotland used England’s coins for financial transactions. David created a Scottish mint and began making Scotland’s own currency. It was a time of economic stability for Scotland.
Scotland’s oldest bank is Bank of Scotland was started in 1695 and is now part of Lloyds Banking Group. Interestingly, it was started by an Englishman while the Bank of England was established by a Scotsman in 1694. They, along with Royal Bank of Scotland and Clydesdale Bank have issued banknotes since they began and continue to issue them in Scotland. While many will say they are not legal tender they are legal currency in Great Britain as a statement from The Committee of Scottish Bankers website states:
“The legal position with regard to Scottish Banknotes is as follows: Scottish Banknotes are legal currency – i.e. they are approved by the UK Parliament. However, Scottish Banknotes are not Legal Tender, not even in Scotland. In fact, no banknote whatsoever (including Bank of England notes!) qualifies for the term ‘legal tender’ north of the border and the Scottish economy seems to manage without that legal protection.”