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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, will replaced with polymer banknotes.
The Ulster Bank £50 note is a banknote issued by Ulster Bank.It is valued at fifty pounds sterling and the current design was first issued in 1997. [2] [3] As with most banknotes of Northern Ireland, they can be used for transactions in the Isle of Man and Great Britain, but in practice most retailers will not accept them and they are not legal tender.
Legal Tender Notes A Series 1928–42 Consolidated Banknotes commercial bank issues 1929–41 ↓ ↙ Central Bank of Ireland 1943–2001: Legal Tender Notes A Series 1943–77 B Series 1976–93 C Series 1992–2001 Source: Devitt, M Mac (18 November 2000). "Introduction to Irish Paper Money Issues ca1670-2001. The Structure of Banknote Issues ...
Extended the Bank Notes Act 1833 to make Bank of England notes under £5 in value legal tender; the act also applied to Scotland, making English 10/– and £1 legal tender for the first time. Bank of England withdrew low-denomination notes in 1969 and 1988, removing legal tender from Scotland. 2008 Banking Act 2009: UK
The Ulster Bank £100 note is a banknote issued by Ulster Bank. [2] It is valued at one hundred pounds sterling and the current design was first issued in 1990. [3] As with most banknotes of Northern Ireland, they can be used for transactions in the Isle of Man and Great Britain, but in practice most retailers will not accept them and they are not legal tender in England, Scotland or Wales.
They are exchangeable with other pound notes on a one-to-one basis, and circulate freely within the United Kingdom, though not legal tender, not even in Scotland and Northern Ireland. In fact, technically, no banknote (including Bank of England notes) qualifies as legal tender in Scotland or Northern Ireland. [5]
Bank of England governor Andrew Bailey said the Queen had been an ‘inspirational figure’. Notes with Queen’s portrait will remain legal tender, Bank of England says Skip to main content
Banknotes were originally issued by commercial banks, which were legally required to redeem the notes for legal tender (usually gold or silver coin) when presented to the chief cashier of the originating bank. These commercial banknotes only traded at face value in the market served by the issuing bank. [2]