Thu, 20 February 2020
The Bank of England has unveiled the design of our new polymer £20 note, which will be issued on 20 February 2020.
Key information and timescales about the new £20 note
When does this new £20 note enter circulation?
It’ll be issued on 20 February 2020
What resources are available to help staff?
Training materials, films and photos of the new £20 can be found at www.thenew20.co.uk
What do I need to do in advance of the new £20 coming out?
In preparation for the new £20 being issued on 20 February 2020, cash-handling businesses should take the following simple steps:
- It contains sophisticated security features and is the most secure Bank of England banknote yet
- It’s polymer, just like the existing £5 and £10 notes
- It incorporates two see-through windows and a two-colour foil, making it very difficult to counterfeit
- There’s a metallic hologram which changes between the word ‘Twenty’ and ‘Pounds’ when the note is tilted
What do I do about the paper £20 note?
Even after the new polymer £20 note has been issued on 20 February 2020, you should continue to accept the paper £20 note. The public can still spend paper £20 notes as usual and these will be gradually withdrawn as they get deposited into banks by retailers and the public. We’ll give six months’ notice ahead of legal tender status of the paper £20 being withdrawn
The paper £20 note is the most commonly counterfeited note. So it’s crucial that your cash-handling staff remain vigilant about spotting counterfeit paper £20s until they’re withdrawn from circulation. And with Christmas coming, it’s as important as ever to be alert to counterfeit banknotes. See more information about checking banknotes here
- Speak to your suppliers to check that your banknote machines (eg: self-service checkouts, point-of-sale banknote authenticators, back office banknote authenticators/note counters) are updated and are ready for the new £20
- Make sure that all your staff who handle cash are aware and know what to expect on 20 February 2020.
- Go to www.thenew20.co.uk for free training and educational materials