The Royal Bank of Scotland £5 note by Scottish banks was regulated by the Banknote (Scotland) Act 1845 until it was superseded by the Banking Act 2009.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 Scottish banknotes are not withdrawn in the same manner as Bank of England notes, and therefore several different versions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 £1 note in Europe. The first commemorative £1 note was issued to mark the European Council Summit that was held in Edinburgh on 8 December 1992. Since then, the Royal Bank has issued a number of commemorative banknotes, including £1 notes, to mark major national events or anniversaries. The Royal Bank of Scotland £1 note The Royal Bank of Scotland £1 note is a banknote of the pound sterling. It is the smallest denomination of banknote issued by The Royal Bank of Scotland. The current cotton note, first issued in 1987 bears an image of Lord Ilay, one of the founders of