Wednesday 18th December, 2013

The Bank of England (BoE) has confirmed its decision to bring plastic bank notes into circulation in 2016. As we reported back in September, The BoE went through a consultation stage taking a look at the public response to the proposition. The notes will be made out of polymer and are marketed as being "greener", cleaner and more secure.

The first notes to be deployed will be the £5 note featuring Winston Churchill, followed by the £10 in the following year which will feature Jane Austen. Several other countries around the world already use plastic bank notes starting with Australia more than 20 years ago. The overwhelming majority (87%) of respondents to the consultation were favourable towards the introduction of the polymer notes.