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Are Gibraltar pounds legal tender in mainland UK?

I was recently in Gibraltar, where they accept UK pounds, but also have Gibraltar pounds, which look like ours, but have 'Gibraltar' on them. Nobody will accept them (Bureau de change etc) other than back in Gibraltar, so I wonder if they are legal tender anywhere other than in Gibraltar. If not - any idea why not?

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  • 1 decade ago
    Favourite answer

    Some of the other answers here are sadly not correct. Especially the one that says they are different currencies. This is simple wrong and demonstrates a complete lack of understanding.

    Both Government of Gibraltar bank notes, and Bank of England bank notes, and bank notes issued by the Scottish banks (which still issue their own bank notes) and Jersey bank notes, etc are ALL issues of bank notes demoninated in the same currency - the pound sterling.

    This is a single currency - the pound sterling, just differnet issues of notes (issued by different bodies).

    Now lets clarify what we mean by 'legal tender'. Legal tender is something which you can give someone to settle a debt that they are legally obliged (i.e. forced) to accept as payment for the debt (they can't legally refuse it).

    But they are perfectly free - and it is totally legal - for them to accept any thing else they want.

    In England and Wales only Bank of England notes are legal tender - but people are free to accept anything else they want.

    [Technically, in Scotland no notes at all are legal tender - i.e. you can legally refuse to accept them and ask to be paid in coins!]

    Now, given that you have some, you should be able to pay them into your bank acocunt - or take them into your own bank (that you have an account with) and they ought to be willing to swap them in the drawer.

    They will be under no obligation to do this, but most propper banks will do this for their customers - it is a basic banking service that the industry was originally built upon. Certainly I know people who have done this as customers of Barclays, HSBC and Lloyds.

    Technically, the government of Gibraltar will exchange them for Bank of England notes - but this avenue is more of a legal principle rather than something people are expected to make use of - as such it will be dificult, involve writing letters and might involve a small fee.

    Personally, I would take them into your bank and either ask them to swap them, or pay them into your acocunt.

    I notice you mention Bureau de change. Just to be clear, these notes are demoninated in pounds sterling - the same pounds sterling on a BoE note. So don't accept any less!

    Warning for tourists: Beware of the bureau de change at UK airports offering to buy/sell 'Gibraltar pounds' (with a code 'GIP') for up to 10% change in value. This is a CON trick they are doing.

    The notes and coins have absolutly exactly the same value - becuase they are deminated in the same currency. Indeed in Gibraltar they all circulate together completely intermixed.

    This code you will sometimes see (GIP) is actually only used inside the banking world. It is not a 'currency' code, but rather an issue code. Banks will use it to denote how many Goverment of Gibraltar issued sterling notes they hold (compared to other issues, etc). Nobody anywhere has a bank account demoninated in GIP as it is not a separate currency, the term is meaningless unless you are talking about bank notes internally inside the banks.

    Source(s): First hand knowledge.
  • lacie
    Lv 4
    5 years ago

    Gibraltar Currency

  • Anonymous
    6 years ago

    RE:

    Are Gibraltar pounds legal tender in mainland UK?

    I was recently in Gibraltar, where they accept UK pounds, but also have Gibraltar pounds, which look like ours, but have 'Gibraltar' on them. Nobody will accept them (Bureau de change etc) other than back in Gibraltar, so I wonder if they are legal tender anywhere other than in Gibraltar....

    Source(s): gibraltar pounds legal tender mainland uk: https://trimurl.im/j78/are-gibraltar-pounds-legal-...
  • Anonymous
    1 decade ago

    No you can't use them here its advised you exchange them at Gibraltar before you leave but a bit late for that now

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  • 6 years ago

    I tried it once, and they didn't let me in the UK to use gib pounds. They are not legal to use in Britain.

  • Anonymous
    5 years ago

    For the best answers, search on this site https://shorturl.im/ax6YT

    No. They can be exchanged at any bank though. Ian M

  • Orla C
    Lv 7
    1 decade ago

    Gibraltar has pounds? I didn't know that. You learn something new every day!

  • 1 decade ago

    no there not

    but you can normally get away with using the coins in things parking meters, gormless cashiers and vending machines ;-)

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