Sterling banknote facts for kids

Quick facts for kids Sterling banknote
ISO 4217 Code	GBP
User(s)	United Kingdom  Jersey  Guernsey  Isle of Man  South Georgia and the South Sandwich Islands
Subunit
1/100	penny
Symbol	£
penny	p
Banknotes
Freq. used	£5, £10, £20, £50
Printer	Issuing banks: English and Wales notes: Bank of England Scottish notes: Bank of Scotland Royal Bank of Scotland Clydesdale Bank Northern Irish notes: Northern Bank/Danske Bank First Trust Bank Ulster Bank Bank of Ireland Crown dependencies: States of Guernsey Jersey Isle of Man

Sterling banknotes are the banknotes in circulation in the United Kingdom and its related territories. They are issued in various denominations of pounds sterling (symbol: £ or GBP).

Sterling banknotes are official currency in the United Kingdom, Jersey, Guernsey, the Isle of Man, South Georgia and the South Sandwich Islands, and Tristan da Cunha. One pound is equivalent to 100 pence. Three British Overseas Territories also have currencies called pounds which are at par with (worth equal to) the pound sterling.

Banknotes are issued by the Bank of England, and also by seven other banks in the United Kingdom. Only the Bank of England notes are legal currency, meaning they must be accepted in retail tade, restaurants and so on.

The other banks, mostly in Scotland and Northern Ireland issue notes which are always accepted in their countries. In London, where many people are of foreign origin, these notes may be refused in some places.