We are shortly going to Jersey (first time) and I am unsure about using credit cards. I know a Jersey pound = a British pound and that British pounds are accepted currency. I also know my UK credit cards are acceptable.
However if I use my credit card not sure whether I will be charged Jersey or British pounds. The former I suspect? Then will I lose on exchange transaction charge? More crucially I will I be charged the usual fee, maybe 2.5% as a non-UK trsaction? Thanks
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There are also debit cards available that do the same job if you don't want credit.
Before you head off on your holiday to Jersey, rest assured that the currency is the same as the UK. This means you don’t have to worry about changing any money over. Jersey also has its own currency (Jersey Pound), which you may be given as change. This isn’t deemed legal tender in the UK, but if you visit your bank they should give you the equivalent in Sterling.
You can also withdraw cash from an ATM, but most machines will dispense the local currency. Just like the UK, debit and credit cards are widely accepted too, and can be used freely without any charges.
If you use cash you will likely get change in Jersey currency, and ATMs will issue Jersey notes (but you may have an option to choose UK notes - be careful though, UK bank notes are legal tender in Jersey, but not the other way around.
Legal tender is an over-used and often misunderstood term.
It has a VERY narrow meaning in the UK and varies depending upon what part of the UK you are in. Legal tender is what is required to pay off court fines, debts, etc.
As long as something is generally accepted, that's good. To demonstrate the weirdness, Royal Mint coins and BoE notes are legal tender in England and Wales but in Scotland and Northern Ireland only Royal Mint coins are legal tender. Scottish and Northern Irish banknotes* are not legal tender anywhere, even in Scotland and NI.
Jersey notes are only legal tender in Jersey (as are BoE notes there). They are probably swappable at a bank in England and you might find some kind soul in a shop that would take them. The truth is that currency is whatever anybody is prepared to accept in payment for goods or services. That could be bank notes, Charlton Athletic match tickets or milk bottle tops.
*Scottish and Irish banks must hold an amount equivalent to the notes they issue in English pounds somewhere authorised for the purpose - usually the Bank of England. That way, if they go bust the BoE will be able to reimburse the holders of these notes. (So issuing Scottish and NI notes is a fairly pointless and profit-sapping affectation.)
Edited to add the BoE produces special notes for this function, they are called giants and titans. Giants have a face value of £1mn; titans £100mn.
Is this another brexit benefit?
I'm still laughing now thinking about it.
Therefore BREXIT is irrelevant in this context.
Thanks for the sensible answers, notablt @shirty5 and @cafcfan
Unless you are one of my schizo personalities then I can't see how you would know what it does or doesn't remind me of. Very strange comment.