The Bank of England first announced the paper £20 and £50 notes were set to be stop being legal tender last year (June) – which is the exactly one year after the polymer £50 note was released.
It came as the polymer £50 note entered circulation for the first time, joining its £5, £10 and £20 counterparts.
In June this year, the Bank of England urged anyone who still has paper notes to use or deposit them.
At that time, it was estimated there was still more than £6bn worth of paper notes in circulation and more than £8bn worth of paper £50 notes.
Security features
Both the polymer £20 and £50 notes feature a plethora of security features that can help operators confirm their authenticity.
On the £20 note, this includes a hologram image that alters if it is tilted from side to side (the words should change between ‘twenty’ and ‘pounds’).
Other security features include a portrait of the Queen printed on the window with ‘£20 Bank of England’ printed twice around the edge.
It also shows a round purple foil patch containing the letter ‘T’ on the back of the note, directly behind the silver crown on the front.
To find out more things to know about the polymer £20 note, see here.
Polymer note history
For the new £50 note, there are a couple of main security features. One is a metallic hologram that changes between the words ‘fifty’ and ‘pounds’ when the note is tilted.
The other is a largely transparent window with a gold and green foil on the front, showing a details metallic microchip image.
The polymer £5 note was the first to change from paper, which was issued on 12 September 2016 and features Sir Winston Churchill. The £10 note followed this in September 2017 and features Jane Austen.
The introduction of the £50 note means all Bank of England banknotes are now available on polymer.
