Bank of Scotland to switch to plastic bank notes

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In June 1, 2015
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Source: The Scotsman,  Monday 01 June 2015

Bank of Scotland announced its next £5 and £10 notes will be printed on plastic.

It becomes the second bank in Scotland, after Clydesdale, to issue notes printed on polymer which, according to the bank, are more durable than traditional paper notes.

The Bank of Scotland, which has been issuing bank notes in the country for over 300 years, says the new notes will incorporate “advanced security features,” making them more difficult to counterfeit.

The first 50 of the new notes, issued in November, will be limited edition and auctioned off to raise money for BBC Children in Need. The notes will feature the designs from winners of a children’s competition that is being launched today, Monday 01 June 2015.

The design of the main replacement polymer £5 note, which will still feature Sir Walter Scott and The Mound on the front, will also be unveiled before the end of this year with the note issued in the second half of 2016.  It will be followed around a year later by the polymer £10 note.

According to the bank, polymer bank notes are more environmentally friendly and because they last longer are, over time, cheaper than paper bank notes.

Bank of Scotland was one of the first banks in Europe to successfully issue bank notes, a year after it was founded by an Act of Parliament in 1695.

The last design of Bank of Scotland notes were issued in 2007 and featured the common theme of Scottish bridges. There have been 47 previous separate series of notes issued by the bank.

The Children in Need bank note competition will be judged in Edinburgh on 26 June by a panel including Bank of Scotland, Education Scotland and BBC Children in Need.