New plastic bank notes prone to stick together warns Bank of Enland
01 June 2016
UK citizens could be at risk of handing over two of the new plastic banknotes when they needed to hand over one, the Bank of England warned.
The new plastic coating which promised to extend the life of cash by up to two-and-a–half years was prone to sticking, it added.
The announcement comes as the Bank prepares to launch a set of new fivers this week, featuring the face of Winston Churchill.
Today's £5 notes would be withdrawn in time for the new polymer tenner which is set to come into force in 2017.
Concerns have been voiced that the move to plastic notes would likely confuse the elderly who were more likely to use cash rather than card.
In an official Q&A sheet, the Bank of England warned: "Brand new polymer notes can sometimes stick together, but this effect is short-lived once in use."
According to Bank of England chief, Mark Carney, people need to store notes flat in their wallets as folding them could damage the plastic.
The UK lags 30 countries that are already using polymer banknotes. The polymer notes have been in use in Australia since 1988.
With the move to longer-lasting money, the Bank of England would save money on printing notes.
The full design of the new £5 note, featuring Sir Winston Churchill, would be unveiled this week.
Thousands had protested the announcement of the change in 2013, as Sir Winston replaced Elizabeth Fry who was at the time the only female figure on UK bank notes apart from the queen.
It was later announced that novelist Jane Austen would feature on the new £10 note while artist JMW Turner would appear on the new £20 note.