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In due course this is passed on to the Lewes Pound and we arrange to give this out as envelopes of Lewes Pounds at food banks. Are Lewes Pounds legal? According to the Bank of England the Lewes Pound is a shopping voucher. As such it is not legal tender but based on trust.
- Contact
The Lewes Pound Community Interest Company Registered at 2...
- Spend Lewes Pounds
Spend Lewes Pounds. Most independent local businesses,...
- How It Works
The best way to support the Lewes Pound and the community is...
- Collector's Packs
As a great way to celebrate your visit to Lewes or as a...
- Get Lewes Pounds
Lewes Pound CIC Co-operative Bank Sort code: 08-92-99 A/C...
- Get Involved
Be the first in the queue for Lewes Pound Deals! follow us...
- Set up a Standing Order
Simply collect your Lewes Pounds after the first of each...
- What It Is
The Donate-a-Drink scheme at the Depot, where for the price...
- Contact
- Are They Legal tender?
- Strengthen The Local Economy
- How Does It Work?
- Are They A Gimmick?
- What Can I Do with A Local Banknote If I'm Not Local?
Technically these local currencies are not banknotes but vouchers. Individuals and businesses are not obliged to accept them as a means of payment. So what’s the point of having them? And if you have a community banknote, what can you do with it?
The Kingston Poundwebsite estimates that between 80 and 90% of money spent with normal banknotes leaves the borough within a day. But when the money is a community currency that only has value locally, all of the money spent remains within the local economy, effectively becoming an investment in the local area.
Local businesses agree to accept the community currency notes in exchange for goods and services. For individuals and businesses, buying and selling with community currency ensures that money spent locally stays within the community. Unlike normal money, community banknotes have an expiry date. This encourages people to spend the money, rather than...
Bristolians can use their £BP (Bristol Pounds) to pay for train and bus journeys, or to buy goods and services from local shops. In addition it is also possible to pay the Bristol council tax in £BP.
Many of the community banknotes are wanted by collectors. Notes in good condition can sell for a premium. But be aware that community banknotes have an expiry date. Once the expiration date has passed, the local banknotes become de facto worthless and this makes the selling price on auction sites like Ebay unpredictable in the long run. As a genera...
Sep 20, 2024 · The short answer is yes, the pound is still in circulation and sterling can be exchanged for the local currency at Lewes Town Council from the reception desk at the town hall. Victoria Gray, from ...
Nov 21, 2022 · A Lewes pound is a local currency used in Lewes, East Sussex, United Kingdom, as part of an initiative to encourage consumers to shop locally. ... Legal tender describes any official medium of ...
Merchants in Lewes have the option to accept Lewes Pounds, although it is not considered legal tender. Consumers can obtain Lewes Pounds from designated issuing points and use them for purchases at participating businesses, some of which may offer discounts to incentivize their use.
But the Lewes Pound has its critics too. The pounds are not legal tender and can be exchanged for sterling at any point, which can of course, then be used anywhere, so there is nothing to actually guarantee that the cash stays in the local economy.
People also ask
Are Lewes Pounds legal tender?
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Been doing some online research on currencies - in particular the claim by TTL that the Lewes pound will be 'legal tender'. While it is not illegal to...
