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These are pound sterling notes and equal in value to Bank of England notes, and should not be confused with banknotes of the former Irish pound. The Bank of Ireland does not issue banknotes in the territory of the Republic of Ireland; until the Republic joined the euro in 1999, the only note-issuing bank there was the Central Bank of Ireland.
As a bank, it is looking to provide a range of foreign currency and related products and services to banks, in the form of a "Banker's Bank". [6] In September 2016, Currency Exchange International of Canada Corp. was given the order to commence and carry on business as Exchange Bank of Canada (EBC), in English, and Banque de change du Canada ...
In Northern Ireland, three retail banks exercise their right to issue pound sterling notes: Bank of Ireland, Danske Bank (formerly Northern Bank) and Ulster Bank. [122] As of 2020, Northern Bank and Ulster Bank are the only two banks that have issued special commemorative notes so far.
The weakness of the paper currency in Ireland lead to pressure for the creation of a ‘National Bank’ to provide a stable currency. Eventually, the Bank of Ireland was created to fill this need. The Bank of Ireland was the first joint stock bank to produce notes intended for use throughout Ireland; its first issue was in 1783. [2]
In 1922, Bank of Ireland was appointed as banker to the Government of Ireland. [10] In 1926, Bank of Ireland took control of the National Land Bank. [6] [11] In 1948, The Bank of Ireland 1783–1946 by F.G. Hall was published jointly by Hodges Figgis (Dublin) and Blackwell's (Oxford). [12] In 1958, the bank took over the Hibernian Bank Limited. [6]
On 27 February 2019, Ulster Bank and Bank of Ireland released new polymer £5 and £10 notes, while Danske Bank released new polymer £10 notes. On 29 September 2023, paper £50 and £100 notes issued by the Bank of Ireland and by Ulster Bank, like those of the Scottish bank note issuers, were replaced with polymer banknotes.
The Central Bank of Ireland, as an agency of the European Central Bank, produces euro banknotes at its Currency Centre in Sandyford Industrial Estate, Dublin. Central banks in the Eurozone provide banknotes of one denomination each year, according to demand and a rotating allocation (determined by the ECB).
£1 Ploughman note distributed by the Bank of Ireland in 1932. The Ploughman series was a series of Irish banknotes issued by the Currency Commission of Ireland as a transitional measure for eight Irish banks: Bank of Ireland, Hibernian Bank, Munster & Leinster Bank, National Bank, Northern Bank, Provincial Bank of Ireland, Royal Bank of Ireland and Ulster Bank.