50 pound note new

Bank of England 50 Pound Note

The new £10 and £20 notes will also include Braille-like features for the first time, allowing visually impaired users to distinguish between the two. The £5 note does not include the feature, allowing users to easily identify it.

In order to ensure that users of the new notes "have trust and confidence for years to come", Mr Carney said that the new note is printed with images only visible under UV light, making it much harder to counterfeit than the current model.

"This all means safer banknotes, with the tactile feature helping the visually impaired to recognise our different notes, ensuring the nation's money is as inclusive as possible, " he added.

Defending the decision to invest 7.4p per banknote on the redistribution programme, Mr Carney said that similar technology in New Zealand and Canada ensured that notes remained in circulation up to "four times" longer than their British counterparts.

"Just a little over half of all transactions in this country use cash, " he said.

"In fact the rate of cash usage in the UK has been pretty steady for the last 5-6 years.

"So cash is incredibly important, and the British people still use cash as they do, everyday across the country.

"You want to make sure that the new security features protect these notes, so that they can still be trusted years after their creation."

But the Bank has admitted that the plastic notes are liable to stick together, meaning shoppers are at risk of handing over two at once.

It has emerged that the polymer-coating on freshly made notes can affix to each other, proving irritating for people who accidentally end up paying twice when settling cash bills.

Source: www.telegraph.co.uk
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