Bank of England has launched the much-anticipated new £20.
The note is designed and produced by British manufacturing company De La Rue and is made of a sophisticated polymer, also supplied by De La Rue.
According to the company, the new £20 is “durable, cleaner, securer and greener than the paper notes currently in your wallet.”
De La Rue shared the following five facts about the new £20:
- It will be the first Bank of England note co-circulating on Safeguard® polymer substrate, symbolising the massive achievements of Safeguard® since its launch in 2012.
- It is one of only a few banknotes printed at one site using substrate from two suppliers and is a testament to the technical expertise of the De La Rue production team.
- Safeguard® underwent many improvements that helped with qualification and production of the new £20, including upgrades to enable fast production processing speeds.
- Over 590 eligible characters were nominated by the public as part of the character selection process. The De La Rue design team researched and produced concepts on several characters prior to British artist JMW Turner being announced.
- De La Rue helped optimise the design for production, using prior knowledge from the design, proofing and production of the £5 and £10 banknotes.
Clive Vacher, CEO of De La Rue, says the new polymer £20 note provides “industry-leading security inside a true work of art.”
The public will be able to spend the old paper £20 as usual until all of them will be slowly withdrawn as they are banked by retailers.
A notice will be given six months before the paper one will be withdrawn.
Bank of England says the note is its most advanced ever, with several security and design features which make it difficult to counterfeit.
“Our banknotes celebrate the UK’s heritage, salute its culture, and testify to the achievements of its most notable individuals,” Mark Carney, Governor of Bank of England, said.
“The new £20 note celebrates Turner, his art and his legacy in all their radiant, colourful, evocative glory,” he added.
The £20 note will feature the signature of the bank’s Chief Cashier, Sarah John.