RBS rolls out plastic fiver
27 October 2016 | 8556 views | 0
Following in the footsteps of the Bank of England, north of the border the Royal Bank of Scotland has issued its first polymer £5 notes.
The plastic fiver is available from today in nine branches across seven Scottish towns and cities. It will be rolled out across the country over the next few weeks and by May 90% of all £5 notes in circulation will be polymer.
RBS has been issuing banknotes since 1727 and has an average of £1.5bn worth of notes in circulation on a single day.
It isn't the first issuer in the UK to go plastic. The Bank of England's polymer £5 entered circulation last month while Clydesdale Bank, and Bank of Scotland are also making the move.
The plastic cash, which is smaller and more durable 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.
It features illustrations of Scottish poet Nan Shepherd and is part of a new series of ‘Fabric of Nature’ themed notes coming into circulation this year and next following a public consultation.
Malcolm Buchanan, chairman, RBS's Scottish board, said: “This is a historic moment in the Royal Bank of Scotland’s 300 year history. It is our first polymer note, a note fit for a modern age and one that will serve customers across Scotland for years to come."