BLANKETY BANKNOTES

Fury as Scottish money is being phased out at four times the rate of English cash

- BY DAN VEVERS Chief Reporter

SCOTTISH banknotes are being quietly phased out, a Sunday Mail investigation has revealed.

We have uncovered official data which shows our unique cash - a symbol of Scotland's national identity and banking heritage is being stripped out of circulation at four times the rate of English currency.

We found ATMs across the country now giving Bank of England tenners and twenties.

Politicians and campaigners have reacted angrily to our findings.

Ex-Justice Secretary and Alba Party leader Kenny MacAskill said: "The Scottish banks must explain why the decline in Scottish bank notes in circulation has fallen four times as fast as equivalent notes south of the Border.

"If things continue as they are, one day we might reach the ridiculous point where people in Scotland are simply unable to get Scottish banknotes from cash machines at all. That would be totally unacceptable.

"Scottish banknotes are a matter of pride for Scots and the banks must provide reassurance they are not being phased out against the expressed wishes of their customers."

The Bank of Scotland was the first bank in Europe to issue paper money in 1695.

But Bank of England data shows the value of Scottish notes in circulation has slumped by nearly a fifth since 2020, the year the Covid-19 pandemic hit and saw an increase in contactless card payments.

Overall, it means a fall of 16 per cent in real terms in just five years - a decline four times faster than Bank of England notes, which have dropped by just four per cent.