The Bank of England first decided to open premises on Castle Street, Liverpool in 1826, which helped establish the area as the city's financial centre.

[5] The building combines several neoclassical architectural styles, including Greek, Roman and Renaissance.

[8] The building itself is raised up from ground level, sitting atop a rough granite plinth.

[4] The front of the building held accommodation for the bank's agent, accessible from Union Court.

[8] The building is regarded as one of Cockerell's most impressive and was described by Nikolaus Pevsner as a "masterpiece of Victorian architecture".