Bank of England unveils design of new £5 banknote to be issued on Guardian® polymer banknote substrate

03-Jun-16

The Bank of England periodically replaces notes to introduce the latest new security features and stay ahead of counterfeiters. The bank has decided that the next £5, £10 and £20 notes be printed on polymer, because polymer notes last longer, stay cleaner and are harder to counterfeit than paper notes. Each new polymer note is expected to last at least 2.5 times longer than the current paper notes. This is because polymer is stronger than paper so the notes can better withstand being repeatedly folded into wallets or scrunched up into pockets. Based in Wigton in the North of England, Innovia is the world’s leading provider of technologically advanced polymer banknotes on its unique Guardian® technology. By the end of 2016, it will have manufactured more than 50 billion banknotes for central banks around the world, or 99.96% of polymer banknotes in circulation. Innovia’s Guardian® polymer substrate uses high security Clarity™C film, manufactured using patented technology that is securely manufactured and inherently verifiable. The benefits of the technology include reducing counterfeiting levels significantly and substantially reducing the lifetime costs of banknotes to central banks. Other countries currently using Innovia’s polymer include Australia and Canada, where counterfeiting rates decreased by 98% after the introduction of Guardian® polymer notes in 2011.