They are resistant to dirt and moisture.
People are eagerly awaiting to get their hands on the new £5 note as it is very different to what the current note is like. A total of 440 million new £5 notes have been printed and are slowly making their way to our pockets.
The new note is supposedly more durable than our current fiver, but will only initially be available from a handful of banks and cash points.
How is the new £5 more durable?
The new note is made from polymer which thus makes it more durable and washing machine worthy.
The governor of the Bank of England, Mark Carney, said the new note would be cleaner, safer and stronger.
“The use of polymer means it can better withstand being repeatedly folded into wallets or scrunched up inside pockets, and can also survive a spin in the washing machine,” he said.
The new note does sound indestructible, but unfortunately it is not. They are expected to last around five years on average, three more years than what the current notes last.
They are also lighter and 15% smaller than the fivers we currently use and are resistant to dirt and moisture.
Why are the Notes so Special?
The polymer notes include new security features making the note harder to counterfeit. Security features include a see-through portrait of the Queen with a colour-changing border, gold and silver foil representations of Big Ben, three holograms, micro-lettering and raised print.
Features include a hologram of the word ‘Five’ which changes to ‘Pounds’ when the note is tilted and a hologram of the coronation crown which appears 3D.
To help the visually impaired, the notes will be more distinguishable; the new notes will include bold numerals and similar colour palettes to the current notes. In addition, the future polymer £10 and £20 notes will each have a series of raised dots, with the £5 polymer note distinguishable by having no raised dots.
Where can you get a new £5 Note from?
Banks and ATMs began getting their supply of the new notes today. However, we may have to wait a little longer before getting our hands on one, as the banks will need to process them before they reach counters.
After a week or so, we can expect more places to be stocking the new note, including the special ATM machines (a mere 7% of them) that actually dispense a precious £5 note.
Who is the new Face of the Note?
Winston Churchill and of course, Her Majesty The Queen. Below Churchill’s face will be one of his most famous quotes: ‘I have nothing to offer but blood, toil, tears and sweat’.
The note will also show a view of Westminster and Big Ben which will be fixed at 3 o’clock – the approximate time on 13 May 1940, when Churchill said the above quote, in a speech to the House of Commons.
What about our old, Trustworthy £5 Notes?
Fear not, you need not swap them just yet. You have until 5 May 2017 to swap them, but The Bank of England expects the old fivers to be out of circulation and all fivers to be polymer by January.
The new £5 is the first of the Bank of England’s new series of polymer pound notes to be released. The new £10 is set to be circulated in 2017 and the new £20 is to be in circulation by 2020.