Earlier this month the Governor of the Bank of England, Mark Carney, unveiled the design of the new £20 note featuring the artist JMW Turner which will be issued on 20 February 2020.
The polymer £20 note contains sophisticated security features making it the most secure Bank of England banknote yet and, for the first time, incorporates two windows and a two-colour foil, making it very difficult to counterfeit.
The Bank’s Chief Cashier, Sarah John whose signature is appearing on Bank of England notes for the first time, said: “The new £20 is a really exciting next step in our move to polymer notes. This new note is our most secure, incorporating two see-through windows and a two colour foil for the first time. That makes it very hard to counterfeit and demonstrates our commitment to providing cash that can be used with confidence. Being our most common note, the transition to the new £20 is the most significant, but I am confident that retailers and businesses will adapt to the change.”
How retailers can prepare
1. Plan training for staff that handle notes: go to the new £20 website where you can order or download free training materials. Staff will need to be able to check both paper and polymer £20 notes while they co-circulate.
2. Continue to accept paper £20s: You can continue to spend and accept the current paper £20 note as normal. These notes will be gradually withdrawn as they are banked and notice will be given six months ahead of legal tender status of the paper £20 being withdrawn.
3. Engage with banknote machine suppliers to ensure any note accepting or dispensing machines will be updated – such as self-service checkouts, banknote authentication and note counters.
4. Pledge support for the Banknote Checking Scheme for advice and best practice and to stay up to date with the latest updates on banknotes and training materials.