The Bank of Scotland has teamed up with a national charity appeal to launch a new five pound note.
The first 50 fivers to be printed on a new plastic material called polymer will feature designs submitted by kids to a competition being run in partnership with the BBC's Children in Need campaign.
Polymer is a thin flexible plastic film, replacing the cotton paper used for notes currently in issue. The notes will be slightly smaller with the new £5 note measuring 125 x 65 mm compared to the current 135 x70mm. They are more secure and more durable - even surviving a spin in the washing machine.
The first Bank of Scotland polymer banknote will be a one off limited edition £5 note that will be issued in November 2015, and will be auctioned to raise money for BBC Children in Need. The circulation will be limited to just 50 notes so will be popular among collectors. The notes will feature the designs from winners of a children’s competition that is being launched today. The design of the main replacement polymer £5 note will be unveiled before the end of this year with the note issuing in the second half of 2016. It will be followed around a year later by the polymer £10 note.
Robin Bulloch, Managing Director Bank of Scotland said:
"Bank of Scotland has been issuing banknotes for over 300 years and we take seriously our responsibility to create good quality genuine banknotes that can be used with confidence. Polymer notes are cleaner, more secure, and more durable than paper notes. They will provide enhanced counterfeit resilience, and increase the quality of Bank of Scotland notes in circulation.
"Our very first polymer note will be the limited edition fiver to celebrate our partnership with BBC Children in Need and this will be out at the end of this year. This will be the first time the designs of children have been incorporated on a Scottish banknote and we hope to raise lots of money for BBC Children in Need."
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