Some banks in the UK can issue their own banknotes, but these must be backed up in cash with the BoE. And it’s awkward dealing with millions in used fivers. Hence the 100 million notes and friends.
You’d think other solutions exist in the 21st century but :shrug:
Some banks in the UK can issue their own banknotes, but these must be backed up in cash with the BoE. And it’s awkward dealing with millions in used fivers. Hence the 100 million notes and friends.
You’d think other solutions exist in the 21st century but :shrug: