Scotland Local Currency

Local Currency

The currency of Scotland is the GBP Pound (£), the same used in England although the actual notes are printed differently. British pound notes are accepted in Scotland and vice versa. One pound is comprised of 100 pence. Notes come in £5, £10, £20 and £50 denominations and coins are 1p, 2p, 5p, 10p, 20p, 50p, £1 and £2.

The GBP is a stable currency. Historically, the pound has always been stronger than the US dollar; one US dollar is usually worth between 0.5 and 0.6 pound sterling.

Money can be exchanged in banks, which is where you will get the best exchange rate. Foreign exchange bureaus are generally open for longer than banks but charge higher commission rates. Banks usually open from between 9-10am and close between 4-5pm Monday to Friday. Some banks are also open on Saturdays.

You will have no trouble finding an ATM in Scotland, even in small villages. Almost all will take foreign ATM cards.

A Value Added Tax (VAT) of 17.5% is applied to goods and services. Non-EU visitors to Scotland can reclaim it on goods only at participating stores. Complete the tax-free form at the store where you must also show your passport. Then present your form to customs when you leave Scotland.