If your local bank, building society or Post Office is not willing to accept these notes then they can be exchanged at the Bank of England in London. Scottish notes are legal tender in England and so all shops and banks, etc should accept them. We are authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under registration number 169628. Scottish issuing banks will accept paper notes in pay-ins from customers. Lloyds Banking Group (includes Halifax) The Scottish banks issue notes in denominations of £5, £10, £20, £50 and £100.Only the Royal Bank of Scotland continues to issue a small volume of £1 notes. Especially with Scottish notes in businesses close the border in Newcastle and Northumberland. Cash of less than £20 will be exchanged for polymer notes. It has said it will continue to accept the old £5 notes from its customers. Non-customers can exchange their banknotes at the respective issuing bank up to a limit of £250. Our registered office is at The Mound, Edinburgh EH1 1YZ. Banknotes. No; all Bank of England notes whether legal tender or not retain their face value for all time. But you do get a few ignorant people who just don't know this! A cashier has handed me an old paper £5 note - do I have to accept it? Some banks including Bank of Scotland, Barclays, Halifax, HSBC, Lloyds, NatWest, Royal Bank of Scotland and Ulster Bank will allow customers to deposit old paper notes. The old £5 note Halifax is a division of Bank of Scotland plc. All non Bank of England notes are issued as part of legal stature; any banking institution/bailiwick who is issuing its own notes is required to hold the exact amount in Bank of England issued notes - this is why there are Giant (£1M) and Titan (£100M) BoE notes - hence whether a Gibraltar, Scottish or Manx Pound, it is still worth £1 Sterling. New study reveals 35pc of the population believe they cannot use Scottish money in England, despite the fact that retailers and banks will accept these notes. This colour scheme is similar to current Bank of England notes (except that the Bank of England £50 note is red rather than green and they do not issue a £100 note). The Bank of Scotland's new polymer £20 notes don’t be feature any new people or landmarks, but they do give the images of the existing note's fixtures an update. The new polymer £5 note featuring Sir Winston Churchill (Image: Getty) HSBC. I regularly travel between England and Scotland. For ease of identification, all three issuing banks in Scotland use the same principal colour for each denomination: Blue for £5, brown for £10, purple for £20, green for £50, and red for £100. Customers of Lloyds Banking Group, which covers Bank of Scotland, Halifax, and Lloyds, can deposit old notes worth more than £20. 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