Clydesdale Bank issues Britain's first plastic banknotes

Clydesdale Bank issues Britain's first plastic banknotes

The Clydesdale Bank has begun circulation of Britain's first plastic banknotes, with a limited edition run of two million £5 polymer notes.

The plastic fiver, which is smaller than existing paper notes, has been designed by De La Rue using its Safeguard polymer substrate and incorporates new security features, such as colour changing inks.

Clydesdale Bank is one of three Scottish banks authorised to issue banknotes.

Debbie Crosbie, acting CEO of Clydesdale Bank, says: “We take our responsibility as an issuer of banknotes seriously and are extremely proud to once again be leading the way in innovation.

“Our new polymer notes are more durable and secure, which will deliver a positive impact for the public and businesses."

Clydesdale has beaten the Bank of England to the punch, issuing the limited edition notes a year before the UK's central bank puts plastic banknotes into general circulation.

Comments: (3)

A Finextra member
A Finextra member 24 March, 2015, 08:02Be the first to give this comment the thumbs up 0 likes

Historic moment. As money goes digital on the one hand, the physical manifestation gets more indestructible.

A Finextra member
A Finextra member 24 March, 2015, 10:55Be the first to give this comment the thumbs up 0 likes

The Northern Bank (now Danske Bank) in Northern Ireland has had plastic £5 notes since the end of 1999 so not a British historic first.

Ketharaman Swaminathan
Ketharaman Swaminathan - GTM360 Marketing Solutions - Pune 25 March, 2015, 07:36Be the first to give this comment the thumbs up 0 likes

Plastic hasn't gone away from credit and debit cards. Now plastic comes to cash. Presumably to make it more durable, signaling that it's going to be around for a long time. So much for the impact of mobile wallets in replacing plastic and driving cashless behavior.

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