Some common features of all Cayman Islands banknotes are:
In 1991 the first redesign and upgrade was done on the $100, $25, $10 and $5 denominations. Again in 1996 these four banknotes were updated when the $1 denomination was upgraded and redesigned for the first time. Secondary colours, which highlight the design details of each note, are used in the "B" series banknotes. The notes also included improved security features.
In August of 1998 the Authority introduced the "C" series banknotes. The new banknotes are an updated version of the "B" series and reflect changes to the issuing authority, from the Cayman Islands Currency Board to the Cayman Islands Monetary Authority, and the law under which the notes are issued. The first denominations of the "C" series to be issued were the $10, $5, and $1. The $100 and $25 denominations were issued in August 1999. In 2001 the "C" series $50 banknote was introduced and was later replaced by the 2003 $50 banknote.
In April 2011, the first complete redesign of the Cayman Islands banknotes was introduced with the "D" series. All six denominations have been redesigned, depicting new images, pattern and security features. At the same time many of the familiar elements of the previous notes have been kept for continuity.
All banknotes issued by the Cayman Islands Currency Board and the Monetary Authority are legal tender in the Islands, however all series from the "A" series to "C" series banknotes are being withdrawn from circulation.
A limited number of low serial number banknotes are reserved for sale as Collectable Items.