11:08 13 September 2016
The polymer fiver is said by the Bank of England to be cleaner, safer and stronger than paper notes, lasting around five years longer
To send a link to this page you must be logged in. A new plastic 5 note that features Sir Winston Churchill and can survive a spin in the washing machine has started to enter circulation. The polymer fiver is said by the Bank of England to be cleaner, safer and stronger than paper notes, lasting around five years longer.
The first print-run of 440 million new fivers marks the start of the old notes withdrawal as they are banked by retailers and businesses. While some people may start to see the new fiver immediately at cash machines and bank counters, for others it may take a few weeks. The Bank has been working with the cash industry to help get machines ready for the new 5 notes.
It said not all machines will be ready from day one and it will continue to work with businesses to ensure a smooth transition. The old fiver, featuring prison reformer Elizabeth Fry, can still be used in shops until it ceases to become legal tender after May 5, 2017. The new 5 note paves the way for a new generation of security features, making it harder to counterfeit.
They include a see-through window featuring the Queen s portrait as well as Big Ben shown in gold foil on the front of the note and silver on the back. Sir Winston, who lived at the Chartwell estate in Westerham, features on the back of the note. Bank of England Governor Mark Carney said: The new fiver commemorates one of the greatest statesmen of all time, Winston Churchill, who remarked that a nation that forgets its past has no future .
Banknotes are repositories of the United Kingdom s collective memory, and we will be reminded of Churchill s enormous contributions as he once again becomes part of our daily lives as the new fiver flows out into tills and pockets.
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.
We expect polymer notes to last at least two and-a-half times longer than the current generation of fivers and therefore reduce future costs of production.
The release comes a week after the National Trust launched a 7.1m appeal to ensure more than 100 items belonging to the wartime leader remain at Chartwell.