Bank paper, commonly known as a banknote or a bill, is a promissory note issued by a bank, payable to the bearer on demand. Although the term "bank paper" is widely used, there are several other synonyms that can be used in its place. One such term is "currency," which is defined as a system of money in general use in a particular country. Another synonym is "banknote," which is a piece of paper money issued by a bank and circulated as a medium of exchange. Other terms that can be used interchangeably with bank paper include "bill," "note," and "note of hand." Regardless of the term used, bank paper is an integral part of the monetary system.