The Quick Guide To A New Scottish Currency

1. When will the Scottish pound come into us?

2. How long does it take to create the Scottish Reserve Bank and be ready to release the new currency?

3. Why is it called the Scottish Pound?

4. Will I be forced to convert my money?

5. Do I need to do anything?

6. Will my new S£ account and cards be the same as my existing ones?

7. Can I keep my Sterling account(s) and have new S£ accounts?

8. Isn’t this even more complicated than Decimalisation in 1971 or bringing in the Euro?

9. Can I just carry on using Sterling for all my purchases?

10. Isn’t this all very difficult for businesses that buy or sell in rUK?

11. What about my mortgage, credit card and personal loan?

12. If I re-mortgage how does this work?

13. What is the big picture on our debts?

14. What about my ISA?

15. What about my wages?

16. What about my pension?

17. Don’t we need to save up Foreign Exchange reserves before we can introduce the S£?

18. What happens to the Banks?

19. I have been told the banks will have unmatched assets and liabilities and that this will cause a big problem?

20. It has been claimed that the commercial banks will face huge foreign exchange risks?