Banknote - Financial definition
Financial acronyms
The entire acronym collection of this site is now also available offline with this new app for iPhone and iPad.
Concise definition of the term banknote
Banknotes are a type of negotiable promissory note, made by a bank or other licensed authority, payable to the bearer on demand.
Comprehensive definition of the term banknote
Banknotes were originally issued by commercial banks, which were legally required to redeem the notes for legal tender when presented to the chief cashier of the originating bank.