Manx Currency

[Deejay Denzel]

After leaving it too late to change my Manx money into english for a trip to England, I was left to get it changed once I had reached Liverpool. After many incidents in England trying to use Manx money I decided to embark on getting it changed.

 

One hour later and a visit to every bank, post office, money exchange, bureau de change in a 3 mile radius I was a little pissed off. not one would change it! Barclays used to but now they have joined the rest as they don't make any money on it which is what most of them said.

 

I am now embarking on a campaign not to use it or accept it.

 

English only please!

[Pragmatopian]

In the UK there's very few places now where you can't use a card, so that's what I tend to do.

 

I try to do the same in Central and Eastern Europe, but it's rather more of a challenge to find places that accept cards, and you tend to get scammed on bank charges and exchange rates. As a result, I have a large pile of miscellaneous currency.

[The Old Git]

I am now embarking on a campaign not to use it or accept it.

 

It's legal currency so it might be hard not to accept it

 

English only please!

 

Only if you like giving a free loan to the UK government rather than our own IOM government

 

http://www.manxforums.com/forums/index.php?showtopic=6451

[Deejay Denzel]

Whatever keeps me with a currenct I can spend!

 

I also don't mind spending money in shops whilst in England. I don't feel like i've done a Manx business any harm.

My friend an I had an arguement because I could have bought my mars bar in the Isle of man and ate it when i got to England.

He has now deleted me as a friend on Facebook

[Tugger]

It is a complete pain in the arse finding yourself with only Manx money. I can't believe that using it means more money goes to the IOM than would otherwise be the case, either.

 

Can it, I reckon

[*daniel*]

We should just change to the euro and get it over with. It's so awkward having to change currency for Ireland...

 

And I guess it might be awkward to change currency in general. So we should just have a unified currency.

[Mr. Sausages]

Keep it in your pocket until you get back. Use a cash card in the meantime.*

 

 

 

 

*DISCLAIMER - I AM NOT A FINANCIAL ADVISOR.

[Deejay Denzel]

I use the cash machine at the sea terminal mostly, a great source of English money!

[Frances]

all branches of Nat West will change it (I usually use one in Guildford but have used one in Midlands when visiting my mother and had no problem). Lime st station Liverpool will sometimes accept them as payment for train tickets

There are now only two machines dispensing English notes - Sea Terminal + Airport (at one time one of those at side of IoM Bank prospect hill did).

 

Issuing your own notes is quite attractive for the IoM Bank (a subsidary of Nat West or its parent Royal bank of Scotland) but as they are legal tender in the Island (not in the UK) you might have problems - the coins are easily disposed of (I use parking meters!)

[Max Power]

It's just an income stream for the Island. Just like changing your money for Mickey Mouse money at Disneyland. Visitors always take some home as a souvenir so their money stays in the coffers!

[%age]

I know the Isle of Man is a beautiful place and lots of the Manx people are warm and cuddly and the cats don't have tails and all that, but that criteria means fuck all when it comes to dealing in money.

 

The UK bases banks realise that Isle of Man = Dodgy. They treat us accordingly.

 

The UK Government will follow suit.

[Skig]

all branches of Nat West will change it (I usually use one in Guildford but have used one in Midlands when visiting my mother and had no problem). Lime st station Liverpool will sometimes accept them as payment for train tickets

There are now only two machines dispensing English notes - Sea Terminal + Airport (at one time one of those at side of IoM Bank prospect hill did).

 

Issuing your own notes is quite attractive for the IoM Bank (a subsidary of Nat West or its parent Royal bank of Scotland) but as they are legal tender in the Island (not in the UK) you might have problems - the coins are easily disposed of (I use parking meters!)

 

The IOM Bank stopped issuing its own notes years ago. Bank notes in the Isle of Man are issued by the IOM Government, not the IOM Bank.

[ans]

I don't take any money away with me. My first stop when I arrive anywhere (England or otherwise) is to visit an ATM and draw some out.

[Lonan3]

Two things:

 

1. If you're not smart enough to arrange to have sufficient foreign (i.e English) money with you when you go away, perhaps you shouldn't really be allowed out on your own?

 

2. If you really dislike Manx currency so much, please send me a PM and I'll supply an address for you to send it to for disposal.

[John Wright]

There is about £30 million of manx currency in circulation.

 

For every manx pound issued the government has to have a british pound in the bank, where it earns interest. Last year that amounted to £1.5 million.

 

As some notes and coins are never going to be redeemed, they are lost destroyed or held by collectors there is a surplus in the account anyway and on top of this, in effect, the use of a manx note or coin is an interest free loan to our government, whereas the use of an english note or coin is an interest free loan to the bank of england and the use of scots and nothern irish notes an interest free loan to the issuing banks.

 

Use of Manx notes gives the IOM government about £20 per person per year to spend on services for us. If we none of us used non manx notes it would be about £30 per person.

 

USE MANX NOTES