Britain has a new £5 note. The Bank of England released the new polymer plastic £5 bank note into general circulation in England and Wales** on Tuesday. It marks the start of several big changes the Bank of England is making. The new fiver will see the Queen on one side, and Winston Churchill on the other. It will be 15% smaller than the current cotton-paper note.
For now, it’s only fivers that are changing. Plastic £10 and £20 bank notes will follow later. The new tenner will feature Jane Austin. It will enter circulation next summer. The new £20 note will arrive in 2020. The Bank has yet to decide on £50 notes. Be aware that existing £5 notes cease to be legal tender from May 2017!
**Scottish fivers will begin to change in late September and October.