The new polymer £10 is due Summer 2017. Get ready now and keep your downtime to a minimum. Polymer £10 Upgrade you Note Validators Now!
“The £10 paper banknote is the oldest Bank of England banknote design in circulation and therefore the security features require updating to take advantage of developments in technology,” the Bank said in a recent paper.
Production of the new £10 polymer note began last August and the Bank has already printed 275 million notes, but they’re not quite ready to launch yet.
The new note will be smaller than the current one – but larger than the new fiver. The size ratios will be the same as the ones between the old paper fiver and paper tenner.
But as hundreds of millions of them had already been printed, as things stand they will launch with tallow traces in them.
Banknote equipment manufacturers have started to work adapting machines to fit the new tenner, and firms have started to place orders for key components, such as new ATM parts to accommodate the revised sized note.
The three Scottish issuing banks are also printing their next £10 notes on polymer – they will be released between September and October next year.
The Bank of England that we can expect the new polymer £10 note in September 2017.
After this, a new plastic £20 note will be released in 2020 – there are currently no plans to issue a plastic £50.