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Banks ‘moving extra cash to Scotland ahead of vote’

There have been suggestions some people will want to move their money south if Scotland votes Yes.
There have been suggestions some people will want to move their money south if Scotland votes Yes.

Banks have been moving millions of banknotes to Scotland to cope with any potential run caused by a Yes vote, according to reports.

The Independent said moves have been taking place over the past week or so in order to make sure ATMs do not run out on Friday in the event of a panic reaction to independence.

There have been some suggestions that people will want to move their money to English banks in the event of an independence vote.

Bankers stressed there has been no sign yet of any increase in the amount of withdrawals from deposit accounts or ATMs, stressing that there was no need because the Bank of England has pledged to stand behind all accounts for at least 18 months in the event of a Yes vote.

The Courier put this very claim to one major bank last Thursday, when senior sources said every branch of one major outlet was being told to up its intake by 20%, but officials denied any such move was happening.

However, now reports have emerged from down south that more cash is being shipped to secure locations in Scotland in readiness to keep up with the potential increase in demand.

The Independent’s sources at major banks said they had been issuing clear instructions to their Scottish branches to reassure customers there was no reason to panic.