1 Pound Ulster Bank

Ulster Bank was a Belfast-based commercial bank operating under Irish Free State legislation while simultaneously serving Northern Ireland — an awkward jurisdictional position that persisted through the 1920s as the border settlement was still being digested politically and financially. This note series bridges that uncertain window, issued after the 1920 partition but well before any regulatory clarity had settled around note-issuing privileges for banks straddling both jurisdictions.

Pick 388B is among the scarcer Ulster Bank issues of the interwar period, with low survival rates attributable to active circulation rather than any destruction event.