You’ll soon no longer find Adam Smith in your wallet or purse. The economist has been replaced as the face of the £20 note by artist JMW Turner.
The Bank of England said the new polymer £20 – which enters circulation on Thursday – is its most secure ever banknote.
It includes two see-through windows and a two colour foil to help beat forgers.
The Bank reckons half of all ATMs across the UK to be dispensing the new notes in just two weeks’ time.
The new £20 is the third plastic banknote to be issued by the Bank of England after the fiver featuring Winston Churchill – launched in 2016 – and the tenner featuring Jane Austen, which was first issued in 2017.
It replaces the paper one featuring Adam Smith which has been in circulation since 2007.
But you’ll still be able to use the old notes for many months to come. The Bank will give six months’ notice ahead of its legal tender status being withdrawn.
Security features on the new Turner note include:
The new £20 note is the first to feature the signature of Sarah John, the Bank’s chief cashier. She said: “Moving the £20 note to polymer marks a major step forward in our fight against counterfeiting. I am very grateful to everyone across the cash industry who has made this transition possible and I hope the public enjoy using their new Turner £20s.”
Federation of Small Businesses national chairman Mike Cherry said: “The introduction of this new £20 note is a great step to cutting down on fraud which is a thorn in the side of small firms.
“As the most common note in circulation, small firms will be pleased to see the money they are working with is going to become safer and more secure. This will mean that small businesses can spend time and money on other issues away from fraud.”