A A banknote (or ‘bill’ as it is often referred to in the US) is a type of negotiable promissory note, issued by a bank or other licensed authority, payable to the bearer on demand. More security feature consisting of a rectangular vertical stripe, containing a holographic structure. See A thin microscopic diffraction structure, that transmits or reflects light so a three-dimensional image can be seen. This image appears to move as the viewing orientation is changed. More.