The Bank of England unveils its first polymer note Today, Bank of England Governor Mark Carney unveiled the design of The New Fiver which will be issued on 13 September 2016. The New Fiver is the first Bank of England note to be printed on polymer, a thin flexible plastic, and will feature Sir Winston Churchill. The New Fiver is cleaner, safer and stronger. The introduction of polymer banknotes allows for a new generation of security features which make it even harder to counterfeit, details of which are set out below. The note is also resistant to dirt and moisture and so remains in much better condition for longer. The strength of the polymer material means that The New Fiver is expected to last at least 2.5 times longer - around 5 years - even after being folded into wallets and scrunched up in pockets.

The New Fiver, the first of the Bank’s polymer notes, is cleaner, safer and stronger. It incorporates advanced security features making the notes even harder to counterfeit. The polymer is also harder wearing, as well as resistant to dirt and moisture, so we expect it to last for at least 2.5 times longer.

The New Fiver’s security features include:

• A see-through window featuring the Queen’s portrait. The border of the window changes from purple to green.
• The Elizabeth Tower (or Big Ben) shown in gold foil on the front of the note and silver on the back.
• A hologram which contains the word ‘Five’ and changes to ‘Pounds’ when the note is tilted.
• A hologram of the coronation crown which appears 3D and multi-coloured when the note is tilted.
• A green foil hologram of the maze at Blenheim Palace, Churchill’s birthplace and ancestral home.
• Micro-lettering beneath the Queen’s portrait with tiny letters and numbers that are visible under a microscope.
• The words ‘Bank of England’ printed in intaglio (or raised ink) along the top of the note.

The New Fiver will be issued on 13 September after which point paper £5 notes will be gradually withdrawn from circulation as they are banked by retailers and businesses. The public can continue to spend paper £5 notes as usual until May 2017 after which they will cease to be legal tender. Following this, paper £5 notes will still be exchanged at the Bank of England. The new polymer £10 featuring Jane Austen will enter circulation in summer 2017 followed by the J.M.W. Turner £20 note by 2020. The decision to move to polymer followed an extensive research programme and public consultation. Of the public who responded to the consultation 87% were in favour of the change. Further details about The New Fiver can be found on www.thenewfiver.co.uk