Whistleblowing occurs when an employee reports alleged misconduct at work. The Bank of England is a “regulated person”, which means you can make a whistleblower disclosure to us about the Scottish and Northern Irish banknote regime instead of your employer. This is commonly referred to as “public interest disclosure.” An employee may report things that are incorrect, illegal, or if someone neglects their duties at work, including: “These banknotes will continue to be respected, but if you have one of these notes, you must bring it to your branch/bank to be credited to your account.” British coins and funds held in an account at the Bank of England. This means that in the event of a bank failure, the supporting assets could be used to compensate anyone who owns one of its notes. Bank of Scotland launched bridge series notes in September 2007. This series replaced the Tercentenary series, which went into circulation in 1995. The tercentenary series is still in circulation today, although in very small numbers, and if you have one of these notes, they are still accepted by retailers and banks. The £20 and £50 notes are the last to be withdrawn from circulation, as the £5 and £10 paper notes were withdrawn from circulation on 2 March 2018. Following the announcement of the acquisition of HBOS (parent company of Bank of Scotland) by Lloyds TSB in September 2008, it was confirmed that the new banking company would continue to print banknotes under the name Bank of Scotland. [9] Under the Bank Notes (Scotland) Act 1845, the bank could have lost its rights to issue banknotes, but by retaining its headquarters in Scotland, the issuance of banknotes continued. [10] Customers of these banks can exchange their paper notes free of charge, while non-customers can exchange issuing banknotes up to £250, provided they present a valid photo ID.

The Bank of Scotland said customers will be able to deposit their paper notes into their accounts as usual after the September 30 deadline, while non-Bank of Scotland customers will be able to deposit the paper notes in a polymer version up to a value of £250. The previous series of banknotes issued by the Royal Bank of Scotland, originally issued in 1987, is currently being replaced by polymer notes: the Scottish Bankers` Committee has encouraged the public to move forward with 1. March 2018 Issue or exchange five- and ten-pound non-polymer notes that have now been withdrawn from circulation. [6] On the front of each note is an image of Lord Ilay (1682-1761), the bank`s first governor, based on a portrait painted in 1744 by Edinburgh artist Allan Ramsay. [21] On the front of the banknotes is also an engraving of the bank`s former headquarters in St. Andrew Square in Edinburgh. The background graphic on both sides of the banknotes is a radial star drawing based on the richly decorated ceiling of the bank hall in the former main building. [22] On the back of the notes are images of Scottish castles, with a different castle for each denomination. We encourage staff of Scottish and Northern Irish issuing banks and their authorised agents to first use the whistleblowing procedures available at their workplace. If there is none or you do not feel able to do so, you can contact us during office hours on +44 (0)20 3461 8703.

You can also email us at whistleblowing@bankofengland.co.uk or write to the following address: IAWB Team, Legal Directorate, Bank of England, Threadneedle Street, London EC2R 8AH. To facilitate identification, all Scottish banks have agreed to issue banknotes of specific value in the same predominant colour. So£ 5 notes are blue, £10 notes are brown, £20 notes are brown/purple, £50 notes are green, and £100 notes are red. Bank of Scotland, Clydesdale Bank and Royal Bank of Scotland will withdraw their £20 and £50 paper notes on 30 September. Since 2015, polymer banknotes have replaced newly printed banknotes due to new security features and environmental benefits due to their longevity. Information on commemorative banknotes issued by the Royal Bank of Scotland is available on www.scotbanks.org.uk In short, we are responsible for verifying that the six Scottish and Northern Irish banks issuing banknotes comply with the asset guarantee rules.