29 April 2017
visit http://events.sap.com/gb/fsi-forum-2017/en/home

RBS rolls out plastic fiver

27 October 2016  |  7802 views  |  0 rbs plastic fiver

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."

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

The shrinking economy; Bank of England on durability of cash

The shrinking economy; Bank of England on durability of cash

04 October 2016  |  5245 views  |  2 comments | 13 tweets | 8 linkedin
Plastic fiver out-of-step with changing payment preferences

Plastic fiver out-of-step with changing payment preferences

12 September 2016  |  5835 views  |  3 comments | 7 tweets | 9 linkedin
BofE turns to augmented reality to showcase new plastic fiver

BofE turns to augmented reality to showcase new plastic fiver

02 June 2016  |  8467 views  |  1 comments | 11 tweets | 12 linkedin
RBS to issue polymer bank notes

RBS to issue polymer bank notes

07 September 2015  |  6102 views  |  1 comments | 3 tweets | 5 linkedin
UK's £20 banknote to go plastic

UK's £20 banknote to go plastic

02 September 2015  |  6342 views  |  0 comments | 21 tweets | 10 linkedin
Clydesdale Bank issues Britain's first plastic banknotes

Clydesdale Bank issues Britain's first plastic banknotes

23 March 2015  |  6144 views  |  3 comments | 12 tweets | 7 linkedin
Carney: UK could switch to plastic bank notes

Carney: UK could switch to plastic bank notes

18 February 2013  |  7184 views  |  1 comments | 13 tweets | 3 linkedin

Related company news

 

Related blogs

Create a blog about this story (membership required)
Visit capgemini.comvisit vasco.com/news/PSD2-compliant-solutionsvisit dh.com

Top topics

Most viewed Most shared
Six global banks join Swift DLT trialsSix global banks join Swift DLT trials
7713 views comments | 15 tweets | 36 linkedin
BBVA steps up fintech acquisition strategy with purchase of OpenpayBBVA steps up fintech acquisition strategy...
6962 views comments | 17 tweets | 16 linkedin
Should central banks open up payment and settlement systems to non-banks?Should central banks open up payment and s...
5983 views comments | 22 tweets | 21 linkedin
Token raises $15.7 million as PSD2 approachesToken raises $15.7 million as PSD2 approac...
5924 views comments | 20 tweets | 20 linkedin
hands typing furiouslyMobile Technology, Its Importance, Present...
5678 views 0 | 2 tweets | 1 linkedin

Featured job

to 120K base, £300K ote, stock options
London, UK

Find your next job