Scotland’s first plastic bank note enters circulation

The Bank of Scotland’s first main polymer banknote has entered circulation.

The new fiver will begin to be available in branches from today with the note expected to be widely available across Scotland in the next few weeks.

The note is slightly smaller than the existing paper £5 notes, measuring 125 x 65 mm compared to the current 135 x70mm.

This size is consistent with the new Bank of England £5 notes which issued last month and have entered circulation north of the border.

It reuses the existing Bank of Scotland £5 design, with the front retaining the portrait of Sir Walter Scott. On the front and rear of the note, an image of the Mound has been developed as the key feature.

One of the key security features of Polymer notes is the anti-counterfeit ‘window effect’ which has been incorporated on the new £5 note as the windows of the Mound.

All existing paper Bank of Scotland £5 notes will be gradually withdrawn as they are banked by retailers and businesses but any in circulation will continue to hold their value and be accepted at shops, banks and cash payment machines.

The bank also plans to replace its £10 paper note with a polymer version next year with a new note likely to be issued in the second half of the year.

Philip Grant, Treasurer of Bank of Scotland and chair of the Scottish Executive Committee, said: “Polymer is cleaner, greener, and more durable and I am delighted our new five pound note is today entering circulation. Bank of Scotland has been issuing banknotes for over 320 years and I am proud we are continuing to innovate with this new note which will provide enhanced counterfeit resilience. We expect polymer notes to last at least two-and-a-half times longer than the current generation of fivers so they bring a clear environmental benefit too.

“The new note retains our much-loved design of Sir Walter Scott with the iconic Brig O’Doon pictured on the back.”

Finance Secretary Derek Mackay said: “Scottish banks have a long and proud history of printing their own banknotes and it is fantastic to see Bank of Scotland embracing the new polymer technology. I look forward to seeing these new notes in circulation.”