Northern Ireland bank to stop issuing its own notes

Northern Ireland has been issuing banknotes for use, since 1929. On feb.12, it was announced that the first Trust bank would stop its printing and the notes will lose their legal currency status on June 30, 2022.  The bank’s ATMs will switch to providing notes from the Bank of England. The first trust issued around 11 % of all notes whereas the current first trust notes include a 100 issued in 1998 and 10, 20, 50 denominations. The note to be discontinued portrays Northern Irish people, a middle-aged man on the  €10 note, an older woman on the €20 note, an older man on the €50 note and two seniors together on €100 note on the front face. The Battle of Spanish Armada between England and Spain is depicted on the obverse side.  

The Northern Ireland bank is a subsidiary of Allied Irish Banks. Till the month of June 30, 2024, an exchange service will be established at post offices for redemptions. Allied Irish Banks said that, at the end of 2018, of its 1.3 million retail customers, nearly 65% were active. The first trust has to return about €300 million or dollar 386,882,100. The Bank of Ireland, Danske Bank, and Ulster bank are now making a change over to polymer.

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