banknote

1. A promissory note issued by a bank or banking company, payable to the bearer on demand. See also sense 4.

Note: In the United States popularly called a bank bill.

2. Formerly, a promissory note made by a banker, or banking company, payable to a specified person at a fixed date; a bank bill. See Bank bill, 2. [Obs.]

3. A promissory note payable at a bank.

4. A promissory note issued by an authorized bank, payable to the bearer on demand and intended to circulate as government-authorized money; in the United States such notes may only be issued by a Federal Reserve Bank; as, he peeled off five one-thousand-zloty banknotes.

Syn. -- bill, note, government note, bank bill, banker's bill, bank note, Federal Reserve note, greenback.
[1913 Webster +PJC]