Banknotes

There are over 3.8 billion Bank of England notes in circulation worth about £71 billion.

Overview 

Confidence in banknotes is important for keeping the whole economy functioning. That is why we work hard to ensure our notes are high quality, durable and difficult to counterfeit.

Our banknotes

Our notes are designed to be difficult and time consuming to copy. We work closely with De La Rue, the company that currently prints our notes, to ensure they are of a consistently high quality.

There are four denominations (values) of Bank of England notes in circulation: £5, £10, £20 and £50.

Upcoming banknotes

We will issue a new polymer £20 note on 20 February 2020. You can continue to spend paper £20 notes as usual and these will be gradually withdrawn as they are banked by retailers and the public. We will announce when our paper £20 notes stop being legal tender six months in advance.

In October 2018, we announced we would issue a new polymer £50 note. The mathematician Alan Turing, who was chosen using our character selection process, will feature on it. We expect the new note to enter circulation by the end of 2021.

This page was last updated 08 January 2020
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