2016 is a big year for banknotes.
In September, The Bank of England will be issuing a new polymer £5 note featuring Sir Winston Churchill, which will be followed by a new £10 note in 2017 and new £20 note by 2020.
Details of the design and security features for the #newfiver will be unveiled around three months before the issue date, when the Bank will issue its extensive suite of education materials.
The new notes will be printed on polymer, a thin and flexible plastic material that fits into wallets and purses just like paper notes. The polymer notes will incorporate advanced security features that make them more difficult to counterfeit. As well as being secure, they will be cleaner and durable, so better quality.
Will you be ready?
Machines that handle cash need to be updated. For most machines, that will be a software update.
With less than nine months to go until the #newfiver is issued, The Bank of England encourages all business that handle cash to start thinking about how they can make the transition as smooth as possible for their business and customers.
