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Money and notes across the UK

Study note

The currency used across the whole of the UK is the pound sterling, written with the £ sign, and there are 100 pence in a pound. Coins come in several values, from 1p, 2p, 5p, 10p, 20p and 50p up to the £1 and £2 coins, while banknotes come in £5, £10, £20 and £50.

The Bank of England issues banknotes that are used everywhere in the UK. In addition, some banks in Scotland and Northern Ireland are allowed to print their own banknotes. These Scottish and Northern Irish notes are valid throughout the UK, although shops do not have to accept them. The fact to remember is that, as well as Bank of England notes, certain Scottish and Northern Irish banks can issue their own banknotes.

Memory tip: Pound sterling everywhere; Scottish and NI banks can print their own notes too.

Practise this topic

Question 1 of 1 · true or false

Some banks in Scotland and Northern Ireland are allowed to issue their own banknotes.

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Show all questions and answers for Money and notes across the UK(1 question with explanations)

Money and notes across the UK: questions, answers and explanations

  1. 1. Some banks in Scotland and Northern Ireland are allowed to issue their own banknotes.

    • True
    • False

    Correct answer: True

    True. Certain Scottish and Northern Irish banks can issue their own banknotes.

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