What are sterling banknotes?
Q: What are sterling banknotes?
A: Sterling banknotes are the banknotes in circulation in the United Kingdom and its related territories, issued in various denominations of pounds sterling (symbol: £ or GBP).
Q: In which places are sterling banknotes official currency?
A: 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.
Q: What is the equivalent of one pound?
A: One pound is equivalent to 100 pence.
Q: How many British Overseas Territories have currencies called pounds?
A: Three British Overseas Territories have currencies called pounds which are at par with (worth equal to) the pound sterling.
Q: Who issues banknotes in the United Kingdom?
A: The Bank of England issues banknotes in the United Kingdom, and seven other banks also issue banknotes.
Q: Which banknotes are legal currency in the United Kingdom?
A: Only the Bank of England notes are legal currency, meaning they must be accepted in retail trade, restaurants, and so on.
Q: Are banknotes issued by other banks always accepted in their countries?
A: Yes, banknotes issued by the other banks mostly in Scotland and Northern Ireland are always accepted in their countries. However, in London, where many people are of foreign origin, these notes may be refused in some places.
