A note is a word that describes paper money. In America, this is known as a bill. It is common for someone to say “do you have a ten pound note?” However, as bank cards and mobile payment apps are becoming more and more popular this type of money is not as common.
Connected with the term “note” cash is a term used to describe any physical money. So coins or notes are cash. We are moving towards a cashless society in many developed countires.
P or Pence
The smallest amount of currency in the UK is 1 penny. There are 100 pence in every pound. It is very common in almost all situations to shorten the term “pence” to just “p”. For example, a coffee in a vending machine at work might be 50p. This is the sort of money people may ask to borrow quite often for very small things.
This strange little word is used to describe 1 pound. Someone may ask to borrow a quid for a snack or a bus ticket. While it is often used on its own, the word quid can be used against any number of pounds. If something cost £60, someone might say it cost 60 quid.
The smallest value note in the UK is a 5 pound note. This is commonly called a fiver. However, people can also use this term to describe 5 pounds as an amount. It is a fairly small amount of money and someone may ask to borrow a fiver for something though it is an amount of money that should not be given away without some thought.