Banknotes of Northern Ireland facts for kids
Northern Ireland has its own special banknotes, which are a type of money used there. These notes are in pounds sterling, just like the money used in the rest of the United Kingdom. Even though they are real money, they aren't officially called "legal tender" everywhere, even in Northern Ireland itself. This is quite common for many banknotes. However, these notes are still widely accepted as payment by most shops and businesses in Northern Ireland and other parts of the UK. Banks that print these notes have special permission to do so, and they keep money at the Bank of England to back up the value of the notes they issue. The rules for printing these banknotes are set by special laws.
Who Prints Money in Northern Ireland?
In Northern Ireland, several banks have the special right to print their own banknotes. This is different from most places where only one central bank prints all the money. Over the years, some banks have stopped printing notes, while others have taken over.
Here are the banks that currently print banknotes in Northern Ireland:
- Bank of Ireland (they have been printing notes since 1929)
- Danske Bank (they started printing notes in 2013, taking over from Northern Bank)
- Ulster Bank (they have also been printing notes since 1929)
Some banks that used to print notes but no longer do include Belfast Banking Company, National Bank, Provincial Bank of Ireland, Allied Irish Banks, and First Trust Bank.
In 2019, Ulster Bank and Bank of Ireland started releasing new £5 and £10 notes made from a special plastic material called polymer. Danske Bank also released new polymer £10 notes around the same time.
What Are the Different Values of Notes?
When we talk about "denominations," we mean the different values of the banknotes, like a £5 note or a £10 note.
When these banknotes were first introduced, they came in values of £1, £5, £10, £20, £50, and £100.
- The £1 note is no longer printed by any bank; the last one was made in 1984.
- Today, only Bank of Ireland and Ulster Bank still print the £5 note.
- Danske Bank (which used to be Northern Bank) stopped printing notes larger than £20 when it changed its name.
