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Most of the banks produced new modern small sized notes at this time which circulated both in the Irish Free State and in Northern Ireland.
After Irish independence in 1921 the banknotes of the banks with the right of note issue continued to circulate throughout the island of Ireland. Most of the banks produced new design notes around the period of the creation of the Irish free State. Banknotes also became smaller and more modern in appearance around this time, and many were now printed on both sides. English currency also continued to circulate.
This period of transition in the note issues of the banks produced interesting sub-varieties in the banknotes of some of the banks.
The five banks which continued to operate in both the Irish Free State and in Northern Ireland were Bank of Ireland, National Bank, Northern Bank, Provincial Bank, and Ulster Bank. The Belfast Bank sold all its branches in the Irish Free State to the Royal Bank of Ireland and withdrew from the state, to operate in Northern Ireland only.
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