NEW polymer £20 notes are going into circulation from today but you can still use the old paper notes for now.
The new plastic version, which features British painter JMW Turner, is designed to be more durable than the paper design and less susceptible to fraud.
It will be available in cash machines and from banks today, and will eventually replace the old paper £20, which features economist Adam Smith.
The paper £20 note was first issued in 2007 and the Bank of England says there are over 2billion in circulation.
Laid end to end, that would stretch around the world almost seven times and weigh a total of 1780tonnes – that’s over 141 double decker buses.
But paper £20 notes can continue to be used as normal for now as an end date for their use has yet been announced.
The Bank of England says it will give six months’ notice ahead of the notes being withdrawn as legal tender.
But even after the old £20 notes have been withdrawn from circulation, many banks will still accept them as deposits from customers.
The Post Office may also accept withdrawn notes as a deposit into any bank account.
And you can always exchange withdrawn notes directly with the Bank of England.
Here’s everything you need to know about the new polymer £20 note.
If you manage to get your hands on one, here’s how to check if your new £20 note is a “rare” one worth hundreds of pounds.
The note joins the polymer Winston Churchill £5 and the Jane Austen £10. A new polymer £50 featuring Alan Turing will be issued next year.
