Gibraltar Money - where do you exchange it
  • Please can any one tell me where I can exchange my Gibraltar currency back to UK Sterling? Banks won't accept nor Travel Agents!
  • Hi, if you have a UK bank account then they should allow you to pay it into your account.

    A Gibraltar bank note to the value of (say) 5 pounds sterling has exactly the same true value as a Bank of England bank note to the value of 5 pounds sterling or a 5 pound note issued by one of the socttish bank, etc.

    Most will also 'swap it in the drawer' for you so you don't have to pay it in, but they should certainly allow you to pay it in. Be quite forcefull on the point that it is Pounds Sterling, just a differrent issue of note to the same value.

    It is not however 'legal tender' in the UK - this means people are not obliged to accepted it. They are free to accept it, and it is perfectly legal for them to accept it, its just that they arn't forced to. The same is true in revers in Gibraltar.

    Do however make sure you ask at a bank you have an account with, since there is a wee bit of hastle to them (since they don't want to give it back to the next person) but any decent highstreet bank you have an account with should do it.
  • Hi David, thanks for your advice - looks like i've picked the wrong bank to have an account with as Lloyds TBS just showed me the door and offer no resolution to my issue! Likewise AMEX/Thomas Cook & The Post Office all had similar conversations with! Have now resulted in contacting Crown Currency Exchange via the internet - they will accept it but it will cost me! A lesson learnt! Regards Karen
  • Hi,

    In Gibraltar do the stores and locals accept UK bank notes at the Par rate of the Gibraltar pound? I understand in the UK the Gibraltar pound is difficult to exchange however is it true in Gibraltar the UK notes can be used without being exchanged at the banks?
    Antonello
  • Good morning Antonello - you are correct in your thinking, using British Sterling is fine over in sunny Gib without any different in exchange rates (£1 = £1) but just make sure if you have any Gib Sterling you spend/exchange before leaving as the UK are 'so not keen' to take it from you! If you use euros over there they were using exchange rate at 1.4 (July 09) which is not the best so 'cash is king!' Regards Karen
  • antonello, just to confirm what Swifty7 said above, not only can Bank of England notes be used without conversion or anything like that, they are totally intermixed as they are both issues of the same exact value. They are both the pound sterling.

    In Gibraltar, BoE notes and UK coins are totally intermixed in circulation with Gibraltar notes and coins (Gib coins are the same size as UK ones, but have different reverse designs and additionally say Gibraltar on the Queens head size).

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