Polymer Banknotes - Advance Warning

The Bank of England has confirmed that the next £5, £10 and £20 banknotes will be printed on polymer, a thin and flexible plastic material. Polymer notes are said to be cleaner, more secure and more durable than paper notes. The new notes will be smaller than the current paper notes.

According to the published time line, the new £5 note will be issued by the Bank of England in September 2016, and will be followed by a new £10 note in 2017 - and a new £20 note by 2020.

Businesses will need to prepare for these changes; this will include staff training, knowing what cash handling machines are being operated within your business and  ensuring that  necessary adaptions are put in place in good time etc.

The Bank will unveil the full design and security features around three months before the issue date.

An updated fact sheet just issued by the Bank can be accessed here: 'Polymer banknotes - Getting your business ready'.