A promissory note issued by a bank or banking company, payable to the bearer on demand. See also sense 4.Formerly, a promissory note made by a banker, or banking company, payable to a specified person at a fixed date; a bank bill. See Bank bill, 2.A promissory note payable at a bank.A promissory note issued by an authorized bank, payable to the bearer on demand and intended to circulate as government-authorized money; in the United States such notes may only be issued by a Federal Reserve Bank.