Megan Brooks
Northern Ireland has issued banknotes for use within the region since 1929. These banknotes are denominated in pounds sterling and are considered legal currency across the UK. However, they are not technically legal tender, even in Northern Ireland itself, although this is not uncommon as most bank notes are not recognised as legal tender. In 2022, there was some concern about the validity of paper £20 notes issued by several banks, including Northern Bank, with some sources indicating that these notes would no longer be legal tender after June 2022. While the Bank of England typically provides a six-month notice period before withdrawing old paper notes, it is unclear whether Northern Bank £20 notes were officially withdrawn from circulation. As of 2020, Ulster Bank had introduced new £20 notes into circulation, featuring street entertainers and design elements inspired by Northern Ireland's culture and architecture.
| Characteristics | Values |
|---|---|
| Are £20 notes from Northern Bank still valid? | Northern Bank £20 notes are no longer valid as the bank adopted the name of its parent company Danske Bank Group in 2012 and stopped issuing notes over £20. |
| Are £20 notes from Northern Ireland still valid? | Northern Ireland £20 notes are legal currency across the UK, but they are not legal tender. They are still widely accepted as currency by larger merchants and institutions in the UK. |
| Are paper £20 notes still valid? | Paper £20 notes are not legal tender after June 2022. |
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What You'll Learn
- Northern Ireland banknotes are legal currency across the UK
- The £20 notes issued by Bank of Ireland will be withdrawn
- First Trust Bank's current notes have a generic depiction of a Northern Irish person
- The Bank of England issues Pound Sterling notes for England and Wales
- The new £20 note features street entertainers and their appreciative audience
Northern Ireland banknotes are legal currency across the UK
Banknotes have been issued for use specifically in Northern Ireland since 1929. Northern Ireland banknotes are legal currency across the UK, but they are not considered legal tender anywhere, including Northern Ireland itself. This is not uncommon, as most bank notes are not recognised as legal tender. However, the banknotes are still widely accepted as currency by larger merchants and institutions elsewhere in the UK.
The issuing of banknotes in Northern Ireland is regulated by the Currency and Bank Notes Act 1928, the Coinage Act 1971, and other relevant statutes. The issuing banks have been granted legal rights to issue currency, and they back the notes with deposits at the Bank of England.
In 2004, £26.5 million in banknotes were stolen from Northern Bank's headquarters in Belfast. As a result, the bank announced that it would withdraw almost all of its notes from circulation and replace them with altered designs, including an updated logo. The reissue began on 14 March 2005, and old notes remain exchangeable at Northern Bank branches.
In 2012, Northern Bank adopted the name of its parent company, Danske Bank Group, and in 2013, it issued a new series of £10 and £20 notes bearing the new name. Northern Bank stopped issuing notes over £20 after this rebrand.
In 2020, Ulster Bank introduced new vertically shaped £20 notes into circulation, featuring local music, culture, and architectural designs. These new polymer notes were developed with input from a panel of experts and people from across Northern Ireland.
While Northern Ireland banknotes are legal currency across the UK, some people have reported issues with acceptance in England, Scotland, and Wales. However, over half of those surveyed said they were able to successfully argue for their notes to be accepted.
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The £20 notes issued by Bank of Ireland will be withdrawn
The £20 notes issued by the Bank of Ireland will be withdrawn and will no longer be legal tender after June 2022. This means that these notes will no longer be accepted as payment in shops or other businesses. However, it is important to note that these notes are not legal tender in Northern Ireland itself or anywhere else in the UK, but they are still widely accepted as currency.
The withdrawal of the £20 notes issued by the Bank of Ireland is not an isolated incident. Northern Bank, which is now known as Danske Bank, stopped issuing notes over £20 after its rebranding. Additionally, the Provincial Bank of Ireland, which became the First Trust Bank, withdrew its banknote issues in 2022.
It is worth mentioning that the Bank of England has stated that paper £20 notes issued not only by the Bank of Ireland but also by other banks, including AIB Group (UK) plc, Northern Bank Limited (Danske Bank), and National Westminster Bank plc (Ulster Bank), will be withdrawn after 30 September 2022. This information is also available on the Bank of England's website.
If you have any of these £20 notes, it is advisable to spend or deposit them before the deadline. While it may be possible to exchange them at a bank after they are withdrawn, this is not guaranteed, and you may need to have an account with that bank. Additionally, foreign banks may be reluctant to accept these notes for exchange. Therefore, it is best to use or deposit these notes while they are still legal tender.
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First Trust Bank's current notes have a generic depiction of a Northern Irish person
Banknotes have been issued for use specifically in Northern Ireland since 1929. They are denominated in pounds sterling and are legal currencies, but they are not technically legal tender anywhere, including Northern Ireland. Despite this, the banknotes are still widely accepted as currency by larger merchants and institutions in the United Kingdom.
First Trust Bank, previously known as the Provincial Bank of Ireland and then Allied Irish Banks, issues notes in denominations of £10, £20, £50, and £100. The current notes feature generic depictions of Northern Irish people, with a young middle-aged man on the £10 note, an elderly woman on the £20 note, an elderly man on the £50 note, and both elderly people together on the £100 note.
In 2022, the bank, which had rebranded back to Allied Irish, withdrew its banknote issues. However, it is unclear if this affected the £20 notes featuring the elderly woman.
It is important to note that Northern Ireland's commercial banks are authorised issuers of Pound Sterling notes, and all UK-issued Sterling notes are valid throughout the UK. However, notes from Scotland and Northern Ireland are sometimes refused in England and Wales, and foreign banks may not accept them for exchange.
The Bank of England has stated that paper £20 notes issued by specific banks, including the Bank of Ireland, will be withdrawn after a specified date, and retailers and the public are advised to spend or deposit these notes before the deadline.
While the information suggests that older £20 notes from various banks are being phased out, it is not explicit about the status of First Trust Bank's current notes featuring the generic depiction of a Northern Irish person. To be certain, it is recommended to refer to the latest updates from First Trust Bank or relevant financial authorities.
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The Bank of England issues Pound Sterling notes for England and Wales
The Bank of England has a legal monopoly on the issuance of Pound Sterling banknotes in England and Wales. While Scottish and Northern Irish banknotes are not legal tender in England and Wales, they are still widely accepted as currency by larger merchants and institutions. Northern Irish banknotes are denominated in pounds sterling and are legal currencies, but they are not considered legal tender anywhere, including Northern Ireland itself.
In 2004, £26.5 million in banknotes were stolen from Northern Bank's headquarters in Belfast. As a result, the bank announced that it would withdraw almost all of its notes from circulation and replace them with altered designs. Northern Bank has since rebranded as Danske Bank, and in 2013, it issued a new series of £10 and £20 notes bearing the new name.
According to the Bank of England, paper £20 notes issued by Bank of Ireland, AIB Group, Northern Bank (Danske Bank), and National Westminster Bank (Ulster Bank) were withdrawn after 30 September 2022. These notes are no longer legal tender, but they can still be exchanged for new notes at bank branches.
Currently, there are four denominations of Bank of England notes in circulation: £5, £10, £20, and £50. These notes are printed on polymer and feature either the portrait of King Charles III or Queen Elizabeth II. The £20 note features a portrait of JMW Turner and has several security features, including a see-through window, a metallic image, and a purple foil patch.
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The new £20 note features street entertainers and their appreciative audience
Banknotes issued for use in Northern Ireland are denominated in pounds sterling and are legal currencies. However, they are not considered legal tender anywhere, including Northern Ireland. Despite this, the banknotes are still widely accepted as currency by larger merchants and institutions in the United Kingdom.
In 2004, Northern Bank was robbed of £26.5 million in banknotes, with approximately £15.5 million belonging to the current series of Northern Bank issue. As a result, the bank announced that it would withdraw almost all of its notes from circulation and replace them with new designs, including an updated logo. The reissue began on 14 March 2005, and old notes could still be exchanged at Northern Bank branches.
In 2012, Northern Bank adopted the name of its parent company, Danske Bank Group, and started trading as Danske Bank. In June 2013, the bank issued a new series of £10 and £20 notes with the Danske Bank name. Northern Bank stopped issuing notes over £20 after this rebrand.
In October 2020, Ulster Bank launched a new plastic £20 note featuring street entertainers and their appreciative audience. The design reflects local music and culture, incorporating tiles, brickwork, and patterns inspired by Northern Ireland's iconic red-brick buildings. The note also includes ornate decorations found in famous public buildings, corporate architecture, and domestic homes in cities like Londonderry and Belfast. Additionally, the note has a unique security feature: when exposed to UV light, it displays skeletons and a bat, paying homage to Derry's famous Halloween celebrations.
The new £20 note by Ulster Bank not only showcases the vibrant street entertainment culture in Northern Ireland but also combines it with elements of the region's architectural heritage. This blend of art and architecture on the note serves as a celebration of the richness and diversity of Northern Ireland's cultural landscape. The note's security feature, revealing skeletons and a bat under UV light, adds a playful touch that captures the spirit of Derry's Halloween festivities. Overall, the design of the new £20 note is a thoughtful and creative representation of Northern Ireland's cultural and artistic facets.
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Frequently asked questions
Northern Bank £20 notes are no longer legal tender as of June 2022. The paper £20 notes issued by the Bank of Ireland, AIB Group, Northern Bank, and National Westminster Bank will be withdrawn after 30 September 2022.
Following a theft of £26.5 million in banknotes from Northern Bank's headquarters in Belfast in 2004, the bank announced it would withdraw almost all its notes and replace them with new designs.
The new Ulster Bank £20 notes are vertically shaped and feature street entertainers and their audience, reflecting local music and culture. The design also includes tiles, brickwork, and patterns inspired by Northern Ireland's red-brick tenement buildings.
Yes, Northern Ireland banknotes are legal currency across the UK, but they are not legal tender, even in Northern Ireland. However, they are still widely accepted by larger merchants and institutions.
Legal tender refers to the official means of payment recognised by law that can be used to settle a debt. Legal currency, on the other hand, is any form of money that can be legally used to make payments, but it may not be widely accepted or recognised as tender.
