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'New Fiver' arrives at UK ATMs, teller counters

September 13, 2016

The Bank of England issued its first polymer currency — a 5 pound note featuring Sir Winston Churchill — on Tuesday.

In a press release, the bank said it has printed 440 million of the "New Fivers," which will begin to show up immediately in ATMs and at bank counters.

The plastic note resists dirt and moisture, lasts approximately 2.5 times longer than paper, and incorporates a new generation of security features that make it harder to counterfeit, the bank said.

Paper 5 pound notes will be withdrawn as they are banked by retailers and businesses, but will continue as legal tender until May 5, 2017. After that date the old notes will be accepted for exchange only at the Bank of England.

The new polymer notes will retain tiered sizing, bold numerals and a color palette similar to their paper predecessors. Polymer 10 and 20 pound notes will also have a tactile feature created by a series of raised dots. The 5 pound note will be distinguishable to blind and visually impaired users by the lack of this feature.

"The Bank has been working with the cash industry throughout this important and exciting project and we're grateful for their efforts in making the introduction of the new fiver a success," said Victoria Cleland, chief cashier of the Bank of England. "We will continue to work with them throughout the transition ... "

Next summer, the bank will introduce a polymer 10 note featuring the beloved 19th century novelist Jane Austen. It will be followed in 2020 by a 20 pound note featuring the 18th century landscape painter J.M.W. Turner.