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NUll

15th

2016

Paying with plastic: Britain brings in polymer banknote: -


A new polymer banknote featuring wartime leader Winston Churchill went into circulation on September 13 in Britain — one of the first European countries with notes that, literally, can be laundered. The Bank of England will initially issue 440 million of the new £5 notes ($6.7, 5.9 euros) and the old note will cease to be legal tender in May next year. “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,” bank governor Mark Carney said. “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,” Mr. Carney said. He said it was estimated to last five years. The new notes has security features intended to make it harder to counterfeit. These include a see-through window with Queen Elizabeth II’s portrait and a picture of Big Ben in



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