Plastic Money – Changing the Face of Money Laundering

The UK’s bank notes will be changing from 2016.  The new notes will be made of polymer, a thin and flexible plastic material. 

The new more environmentally friendly notes will be harder to counterfeit and are a cleaner and cheaper option than the current cotton pulp note in circulation today.  But crucially the new notes can survive a tumble through the washing machine unscathed.

The reason polymer notes are more environmentally friendly is that they will last far longer than ‘paper’ money, which is prone to damage through getting wet and worn through folding and these often lead to the notes being damaged and taken out of circulation.  It is thought that the current £5 note lasts around six months, whereas the new version is expected to survive for up to two years.  So although the initial production of the plastic notes are more expensive and less environmentally friendly than the ‘paper’ version the durability of the note makes them cheaper and more eco-friendly in the long run.

The first note to get the plastic revision is the £5 and is set to hit the streets in early 2016.  During the change the size of the note will be reduced, the idea behind the size change is to make the notes easier to fit into people’s purses and wallets.  The new £5 note will bear the image of Sir Winston Chrurchill. 

The £10 will follow suit in 2017 and will feature Jane Austin in design.  The Queen will remain on the plastic bank notes and they will retain their current colouring.