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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 1844, when the ability of other banks to issue notes was restricted.
[n 1] Each note bore an alphanumeric serial designation and the signature of the Chief Cashier of the Bank of England. [5] Prior to the release of any notes by the Bank of England, all serial numbers were recorded in ledgers so the bank could verify its liabilities; these numbers were checked when the notes circulated back through the bank. [6 ...
Between 1988 and 1992, four employees of the Bank of England's incinerator plant at Debden in Loughton, Essex, conspired to steal around £600,000 in banknotes that were due to be destroyed, in a series of thefts. [2] They changed padlocks on locked doors in order to be able to steal from piles of notes which had been taken out of circulation. [3]
Main articles: Banknotes of the pound sterling and Bank of England note issues. Note: The description of banknotes given here relates to notes issued by the Bank of England. Three banks in Scotland and four banks in Northern Ireland also issue notes, in some or all of the denominations: £1, £5, £10, £20, £50, £100.
The Bank Charter Act 1844 tied the issue of notes to the gold reserves and gave the Bank of England sole rights with regard to the issue of banknotes in England. Private banks that had previously had that right retained it, provided that their headquarters were outside London and that they deposited security against the notes that they issued ...
Charles is only the second British monarch to appear on the banknotes, and new versions will gradually enter circulation from June 5. King given first notes featuring his face by Bank of England chief
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
The pound sterling banknotes in current circulation consist of Series G Bank of England notes in denominations of £5, £10, £20 and £50. The obverse of these banknotes issued through 4 June 2024 feature the portrait of Elizabeth II originally introduced in 1990.