The Royal Bank of Scotland £5 note by Scottish banks was regulated by the Banknote (Scotland) Act 1845 until it was superseded by the Banking Act 2009. Though strictly not legal tender in Scotland, Scottish banknotes are nevertheless legal currency and are generally accepted throughout the United Kingdom. Scottish banknotes are fully backed such that holders have the same level of protection as those holding genuine Bank of England notes. The £5 note is currently the second smallest denomination of banknote issued by The Royal Bank of Scotland. Scottish banknotes are not withdrawn in the same manner as Bank of England notes, and therefore several different versions
The Royal Bank of Scotland £50 note The Royal Bank of Scotland £50 note The Royal Bank of Scotland £50 note is a banknote of the pound sterling. It is the second largest denomination of banknote issued by The Royal Bank of Scotland. The current cotton note, first issued in 2005 bears an image of Lord Ilay, one of the founders of the bank, on the obverse and a vignette of Inverness Castle on the reverse. The Royal Bank of Scotland began issuing £50 notes in 1727, the same year as the bank's founding. Early banknotes were monochrome, and printed on one side only. The issuing of