Plastic bank-notes could be here within three years Plastic bank-notes could arrive in Britain within three years, ending 160 years of tradition. Since 1853, bank-notes have been made from cotton paper but the Bank of England has carried out three years of research on switching to polymer notes. These can be wiped clean and survive a hot washing machine cycle at 90 degrees. In September, the Bank said it would initially look only at changing the £5 and £10 notes, with the first one being the new £5 featuring Sir Winston Churchill in 2016. At the time, it promised to do nothing unless the public approved. Polymer notes are already used in more than 20 countries, including Australia, New Zealand, Mexico, Singapore and Mauritius as well as Canada. They last ‘at least’ 2.5 times longer than current paper notes and take ‘much longer to become tatty’. They are also cleaner because they are resistant to dirt and moisture, and are almost impossible to tear. If the switch goes ahead, it would save the Bank more than £100million over a ten-year period, largely because the new bank-note will last for so much longer. A typical £5 note currently lasts for just two years. […]
