Pound sterling is the currency of the United Kingdom, commonly represented by £ and the code GBP. Bank of England notes currently circulate in £5, £10, £20 and £50 denominations, all printed on polymer. Notes bearing King Charles III have circulated since June 2024 alongside otherwise equivalent notes bearing Queen Elizabeth II.
Sterling cash is broader than Bank of England notes alone. Banks in Scotland and Northern Ireland also issue their own sterling banknotes under the UK note-issuing framework, so a “GBP” account is a currency denomination rather than a reference to one particular banknote issuer. In casino banking, a GBP wallet records the account in pounds; cards or payment accounts funded in another currency can still create a separate foreign-exchange conversion.
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