bank note definition

bank note

Paper currency of a country issued by its central bank. Also called currency note.

Unsecured, interest bearing, payable on demand promissory note issued by a bank in large denominations ($100,000 and above). Bank notes are similar to bonds and, like a certificate of deposit (CD), may be used as a cash equivalent. They, however, are not protected under deposit insurance.

bank note is in the Banking, Commerce & Finance subject.

bank note appears in the definitions of the following terms: currency, currency note, face, negotiable instrument and scrip

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