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A banknote –also called a bill,paper money,or simply a note –is a type of negotiable promissory note,made by a bank or other licensed authority,payable to the bearer on demand. Banknotes were originally issued by commercial banks,which were legally required to redeem the notes for legal tender 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. Commercial banknotes have primarily been replaced by national banknotes issued by central banks or monetary authorities.
The pound sterling is the official currency of the United Kingdom,Jersey,Guernsey,the Isle of Man,British Antarctic Territory,South Georgia and the South Sandwich Islands,and Tristan da Cunha.
Clydesdale Bank is a trading name used by Clydesdale Bank plc for its retail banking operations in Scotland.
Polymer banknotes are banknotes made from a synthetic polymer such as biaxially oriented polypropylene (BOPP). Such notes incorporate many security features not available in paper banknotes,including the use of metameric inks. Polymer banknotes last significantly longer than paper notes,causing a decrease in environmental impact and a reduced cost of production and replacement. Modern polymer banknotes were first developed by the Reserve Bank of Australia (RBA),Commonwealth Scientific and Industrial Research Organisation (CSIRO) and The University of Melbourne. They were first issued as currency in Australia during 1988;by 1996,the Australian dollar was switched completely to polymer banknotes. Romania was the first country in Europe to issue a plastic note in 1999 and became the third country after Australia and New Zealand to fully convert to polymer by 2003.
The Royal Bank of Scotland plc is a major retail and commercial bank in Scotland. It is one of the retail banking subsidiaries of NatWest Group,together with NatWest and Ulster Bank. The Royal Bank of Scotland has around 700 branches,mainly in Scotland,though there are branches in many larger towns and cities throughout England and Wales. The bank is completely separate from the fellow Edinburgh-based bank,the Bank of Scotland,which pre-dates the Royal Bank by 32 years. The Royal Bank of Scotland was established to provide a bank with strong Hanoverian and Whig ties.
The Bank of England,which is now the central bank of the United Kingdom,British Crown Dependencies and British Overseas Territories,has issued banknotes since 1694. In 1921 the Bank of England gained a legal monopoly on the issue of banknotes in England and Wales,a process that started with the Bank Charter Act of 1844 when the ability of other banks to issue notes was restricted.
The Chief Cashier of the Bank of England is the person responsible for issuing banknotes at the Bank of England and is the director of the divisions which provide the Bank of England's banking infrastructure. This person is known to the general public because since 1870 the Chief Cashier's signature is printed on all bank notes issued by the Bank of England. In 2004 a new post was created,Executive Director of Banking &Chief Cashier,incorporating the title.
Caroline Emma Criado Perez is a British feminist author,journalist and activist. Her first national campaign,the Women's Room project,aimed to increase the presence of female experts in the media. She opposed the removal of the only woman from British banknotes,leading to the Bank of England's swift announcement that the image of Jane Austen would appear on the £10 note by 2017. That campaign led to sustained harassment on the social networking website Twitter of Criado Perez and other women;as a result,Twitter announced plans to improve its complaint procedures. Her most recent campaign was for a sculpture of a woman in Parliament Square;the statue of Millicent Fawcett was unveiled in April 2018,as part of the centenary celebrations of the winning of women's suffrage in the United Kingdom. Her 2019 book Invisible Women:Exposing Data Bias in a World Designed for Men was a Sunday Times bestseller.
Chris Salmon was Executive Director,Markets at the Bank of England. Between 2011 and 2014 he was Chief Cashier of the Bank of England. The signature of the Chief Cashier appears on British banknotes. Salmon was succeeded as Chief Cashier by Victoria Cleland.
Merlyn Vivienne Lowther was Chief Cashier of the Bank of England from 1999 to 2003. She was the first woman to hold the post. The signature of the Chief Cashier appears on Bank of England banknotes. Lowther was succeeded by Andrew Bailey.
Graham Edward Alfred Kentfield was Chief Cashier of the Bank of England from 1991 to 1998. The signature of the Chief Cashier appears on British banknotes. Kentfield was replaced as Chief Cashier by Merlyn Lowther.
David Henry FitzRoy Somerset was Chief Cashier of the Bank of England from 1980 to 1988. The signature of the Chief Cashier appears on British banknotes. Somerset was replaced as Chief Cashier by Malcolm Gill.
The Bank of England £5 note,also known as a fiver,is a sterling banknote. It is the smallest denomination of banknote currently issued by the Bank of England. On 5 June 2024 and 13 September 2016,a new polymer note was introduced,featuring the images of King Charles III and the late Queen Elizabeth II on the obverse and a portrait of Winston Churchill on the reverse. The old paper note,first issued in 2002 and bearing the image of prison reformer Elizabeth Fry on the reverse,was phased out and ceased to be legal tender after 5 May 2017.
The Bank of England £10 note,also known informally as a tenner,is a sterling banknote. It is the second-lowest denomination of banknote issued by the Bank of England. The current polymer notes,first issued on 5 June 2024,bears the images of King Charles III and the late Queen Elizabeth II first issued on 14 September 2017 on the obverse,and the image of author Jane Austen on the reverse. The final cotton paper note featuring a portrait of naturalist Charles Darwin,first issued in 2000,was withdrawn from circulation on 1 March 2018.
The Bank of England £20 note is a sterling banknote. It is the second-highest denomination of banknote currently issued by the Bank of England. The current polymer notes,first issued on 5 June 2024,bears the image of King Charles III on the obverse. The other note first issued on 20 February 2020,bears the image of the late Queen Elizabeth II on the obverse and the image of painter J. M. W. Turner on the reverse. It replaced the cotton paper note featuring a portrait of economist Adam Smith,first issued in 2007.
The Bank of England £50 note is a sterling banknote circulated in the United Kingdom. It is the highest denomination of banknote currently issued for public circulation by the Bank of England. The current note,the second of this denomination to be printed in polymer,entered circulation on 5 June 2024. It bears the images of King Charles III and late Queen Elizabeth II on the obverse and computer scientist and World War II codebreaker Alan Turing on the reverse,with his birth date reflecting the release date. Cotton £50 notes from the previous series remained in circulation alongside the new polymer notes until 30 September 2022,when the last 'paper' banknote issue finally ceased to be legal tender.
The Bank of England £1 note was a sterling banknote. After the ten shilling note was withdrawn in 1970,it became the smallest denomination note issued by the Bank of England. The one pound note was issued by the Bank of England for the first time in 1797 and continued to be printed until 1984. The note was withdrawn in 1988 due to inflation and was replaced by a coin.
The Royal Bank of Scotland £1 note is a sterling banknote. The current cotton note,first issued in 1987,bears an image of Lord Ilay,one of the founders of the bank,on the obverse,and a vignette of Edinburgh Castle on the reverse.
The statue of Millicent Fawcett in Parliament Square,London,honours the British suffragist leader and social campaigner Dame Millicent Fawcett. It was made in 2018 by Gillian Wearing. Following a campaign and petition by the activist Caroline Criado Perez,the statue's creation was endorsed by both the Prime Minister of the United Kingdom,Theresa May,and the Mayor of London,Sadiq Khan. The statue,Parliament Square's first monument to a woman and also its first sculpture by a woman,was funded through the government's Centenary Fund,which marks 100 years since some women won the right to vote. The memorial was unveiled on 24 April 2018.
The Bank of England £100,000,000 note,also referred to as Titan,is a non-circulating Bank of England sterling banknote used to back the value of Scottish and Northern Irish banknotes. It is the highest denomination of banknote printed by the Bank of England. As both Scotland and Northern Ireland have banknotes issued by particular local banks,the non-circulating notes provide the essential link between those banknotes and that of England and Wales,and security if a local issuing bank were to fail.
References
- ↑ CLELAND, Victoria Mary Florence, Who's Who 2015, A & C Black, 2015; online edn, Oxford University Press, 2014
- ↑ April News, Bank of England, April 2018
- 1 2 3 4 A working life: the head of notes. Jill Insley, The Guardian , 13 April 2012. Retrieved 18 September 2014.
- ↑ Interview with Victoria Cleland, The Bank of England’s Head of Notes Division. Michael Alexander, Coin Update, 10 October 2013. Retrieved 18 September 2014.
- ↑ Keep a Woman on English Banknotes. Caroline Criado-Perez. Retrieved 18 September 2014.
- ↑ Who's Who. RLSBP. Retrieved 18 September 2014.
- ↑ Elliott, Larry (21 February 2018). "'I don't use contactless': the woman whose name is on British banknotes". the Guardian. Retrieved 21 February 2018.