• Monday, April 22, 2024

Business

New polymer £20 note to reach people next month

“It is the most secure banknote yet with sophisticated security features making it difficult to counterfeit but simple and quick to check,” the Bank of England said in a release.

By: Radhakrishna N S

THE new polymer £20 note will begin to appear in ATMs and tills across the UK next month.

It is printed on polymer, features the artist JMW Turner on the reverse but retains the distinctive £20 purple colour.

“It is the most secure banknote yet with sophisticated security features making it difficult to counterfeit but simple and quick to check,” the Bank of England said in a release.

To check the authenticity of the new banknote, the lender has asked people to look at the metallic image over the main window. Margate Lighthouse appears in gold foil with the Turner Contemporary gallery in blue and the foils are silver on the back.

There is another small see-through window in the bottom corner of the note. Hologram image – the metallic patch under the main window contains the word ‘Twenty’. This changes to ‘Pounds’ when the note is tilted from side to side.

The note also features the following:  JMW Turner’s self-portrait, painted circa 1799, one of Turner’s most eminent paintings The Fighting Temeraire, a tribute to the ship HMS Temeraire, which played a distinguished role in Nelson’s victory during the Battle of Trafalgar in 1805, the Queen’s portrait in the see-through window with ‘£20 Bank of England’ printed twice around the edge, silver foil patch with a 3D image of the coronation crown, a purple foil patch containing the letter ‘T’ and based on the staircase at the Tate Britain, a quote “Light is therefore colour” from an 1818 lecture by Turner referring to the innovative use of light, shade, colour and tone in his pictures and Turner’s signature from his Will, the document with which he bequeathed many of his paintings to the nation.

The new £20 note will be the first to feature the signature of Sarah John, the Bank’s chief cashier.

She said: “The new £20 is an important part of our commitment to providing banknotes that people can use with confidence. Our polymer notes are much harder to counterfeit and, with the £20 being our most common note, this marks a big step forward in our fight against counterfeiting. I hope the public will look forward to spending their new Turner £20s from February…”

Meanwhile, paper £20 notes, featuring Adam Smith, will remain legal tender and should be spent and accepted as usual. These notes will be gradually withdrawn as they are banked. Notice will be given six months ahead of the legal tender status being withdrawn.

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