Bank of Scotland £5 note Bank of Scotland £5 note The Bank of Scotland £5 note, also known as a fiver, is a banknote of the pound sterling. It is the smallest denomination of banknote issued by the Bank of Scotland. The current polymer note, first issued in October 2016, bears the image of Walter Scott on the obverse and a vignette of the Brig o' Doon on the reverse. The polymer replaces a cotton note also featuring a portrait of Walter Scott. Paper currency was introduced in Scotland immediately following the foundation of the Bank of Scotland in 1695. Early banknotes were monochrome, and
Bank of England £1 note still occasionally found in circulation in Scotland, alongside Royal Bank of Scotland £1 notes. This is because Scotland has no concept of Legal Tender, and any Sterling bank note, of any age, may be used provided the trader is content to accept it. The Bank of England will exchange old £1 notes for their face value in perpetuity. Information taken from Bank of England website. Bank of England £1 note The Bank of England £1 note was a banknote of the pound sterling. After the ten shilling note was withdrawn in 1970 it became the smallest denomination note issued by