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The Isle of Man has a very long history of paper money with the first banknote issues appearing during the latter part of the 18th Century. By the early 20th Century the banknote issuer were in the hands of 5 commercial banks: - The Isle of Man Bank limited, Westminster Bank Limited, Martins Bank Limited, Lloyds Bank Limited and Barclays Bank Limited
In 1961 the Isle of Man Government notes Act was passed and the notes issuing of all of the commercial banks were revoked. The first government note issued, comprising denominations of 10 shilling, £1 and £5 were put in to circulation during July of the year.
Isle of Man Bank Limited
The Isle of Man Banking Company was established in Douglas in 1865 and subsequently set up branch in the other main towns in the island. The names were changed to Isle of Man Bank Limited in 1925 and in 1961 the bank merged with National Provencal Bank Since 1969 the Isle of Man Bank has been part of the National Westminster Group
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