New Fiver Released By Bank of England: What’s The Difference?

What can we expect from the new fiver?

The new fiver has been released today, they are like gold dust at the moment and you can expect them to be hitting shops and banks near you increasingly over the next week.

So, what’s so different about it? Who’s the chosen one to have their mug plastered all over our dosh? And, how long do we have before the old note is no longer legal tender?

Read on to find out absolutely everything you need to know!

See ya later tatty old paper!

Yes the scraggy, tatty, scrunched up loser of an old fiver is out of the window and is to be replaced with a slick polymer version – a thin and flexible plastic.

It’s the first time the Bank of England has ever produced a note using polymer and this one is also 15% smaller than its predecessor.

Tribute to a wartime hero

The late and very great Sir Winston Churchill is featured on the new fiver.

What can we expect from the new fiver? The new fiver has been released today, they are like gold dust at the moment and you can expect them to be hitting shops and banks near you increasingly over the next week. So, what's so different about it? Who's the chosen one to have their mug plastered all over our dosh? And, how long do we have before the old note is no longer legal tender? Read on to find out absolutely everything you need to know!

His image is taken from a photo that was taken in Ottawa, Canada, by acclaimed portrait photographer Yousuf Karsh on December 30, 1941.

On the background of the note will be an image of his Nobel Peace Prize he was awarded in 1953 for literature, complete with the wording of the prize citation.

He’d be proud!

Stop the clock!

The new fiver will also contain an image of Westminster and Big Ben taken from the South Bank in ‘Lan-dan’. It looks out across Westminster Bridge.

Big Ben’s clock face will be fixed at 3pm to commemorate the approximate time on May 14, 1940 when Churchill gave his famous speech to the Commons in which he stated “I have nothing to offer but blood, toil, tears and sweat.”

The declaration will be printed below his portrait.

More hygienic and durable

If you want, you’ll be able to give these bad boys a wipe down if they look grubby – no seriously!

Bank of England chief’s have described the new fiver as cleaner, safer, stronger and more durable (maybe they should consider a marketing position at Durex?)

It will be resistant to dirt and moisture, with the new five pound note expected to last five years longer than its rubbish older brother.

Secure, like really secure

With every new note comes improvement on security, to keep the counterfeiters at bay.

New security features will include a see-through portrait of ‘Her Maj’ with a colour changing boarder, gold and silver foil representations of Big Ben, three holograms, micro lettering and raised print.

new fiver, Bank of England, Winston Churchill, Sir Winston Churchill
Image courtesy of Be Clever With Your Cash

Good luck forging that you crafty gits!

The Bank of England has said the note will be harder than ever to counterfeit. It will feature a hologram ‘Five’  which changes to ‘Pounds’  when you tilt the new fiver, a hologram of the crown appearing in 3D and multi-coloured when the the new five pound note is tilted.

There is also a green foil hologram of Blenheim Palace, Sir Winston Churchill’s birthplace and ancestral home.

Old note scrapped by May 2017

The old, rubbish paper version will be fazed out between now and May 2017, at which point they will cease to be legal tender.

You will be able to exchange them at the Bank of England, but no longer be able to spend in shops etc.

Environmentally-friendly

It’s plastic so I’m sure a few Eco Warriors out there may disagree.

However, they will last longer, fewer will need to be printed, meaning a lot less energy will be used in manufacturing and transporting them.

They will also be recycled when they reach the end of their lifetime.

Other notes also set to be pimped

The £10 and £20 notes will also be getting a polymer face-lift, Jane Austin will be the face of the £10 note due to be circulated next summer, with J.M.W Turner taking centre stage on the £20 note due out 2020.

Scots changing too

Our cousins in the North will see their five pound note change from mid September.

Clydesdale Bank will be issuing the new polymer £5 note on September 15, the Bank of Scotland on October 4 and RBS in November.

There are no plans currently to change the £50 note.

Vision impaired people need not worry

To help vision impaired people distinguish between the different notes, the new notes will still be tiered in size, also included will be bold numerals and similar colour palettes to those used on the current notes.

The £10 and £20 notes will each have a set of raised dots, with the £5 note distinguishable by having none.

Final word

According to statistics revealed by the Bank of England a whopping 21,835 notes had to be replaced in 2015 due to damage. 5,364 of them due to a furry family members chewing or eating them, another 1,801 went for a wash with the laundry.

I think it’s a smart move to make them more durable, sometimes fivers are so grubby they need picking up with tongues and I’m glad to see the back of the scruffy things.

So what do you think? A change for the better? Last version before we move to a paperless currency? Leave you thoughts and comments below, I want to hear them all, ALL I tells ya!

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Thinking Thrifty

Thinking Thrifty

David Jack Taylor is the founder and editor of the Thinking Thrifty blog. An award winning personal finance and lifestyle blogger, he shows how it is possible to live extremely well for less.
Thinking Thrifty
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10 thoughts on “New Fiver Released By Bank of England: What’s The Difference?

    1. I have to say I do love it when they introduce a new note! However, I can’t see it being long before we move to a cashless society.

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