Friday, February 5, 2016

Bank of England Moving to Polymer Banknotes

 

The Bank of England will be replacing traditional paper notes with polymer over the next few years, as the new material is said to be cleaner, more durable and more secure. It also has added security features designed to make the notes more difficult to counterfeit.

A new £5 note will be issued this September, followed by a £10 note in 2017 and a £20 note by 2020. The notes will still have a portrait of the Queen on the front, but they will be about 15% smaller.

The polymer £5 note will have a picture of Sir Winston Churchill on the back and the new £10 note will feature Jane Austen. Designs for the £20 note will be unveiled later this year, while no decision has yet been made on the £50 note. The paper £5 note will be withdrawn in 2017.

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