The Royal Bank of Scotland £5 note by Scottish banks was regulated by the Banknote (Scotland) Act 1845 until it was superseded by the Banking Act 2009.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 Scottish banknotes are not withdrawn in the same manner as Bank of England notes, and therefore several different versions
Bank of England £50 note the Series G polymer £20 note). Peter Sands, an advisor to the British Government and former Chief Executive of Standard Chartered, has raised concern with the Bank of England over high denomination notes and their role in tax evasion. He claimed that scrapping the £50, and other high denomination notes such as the CHF 1000 and $100, would reduce financial crime. Information taken from Bank of England website. Bank of England £50 note The Bank of England £50 note is a banknote of the pound sterling. It is the highest denomination of banknote issued for public circulation by the Bank