Polymer investment pays off for Clydesdale Bank

Polymer investment pays off for Clydesdale Bank

Clydesdale Bank’s polymer £5 note, the first fully polymer banknote to circulate in Great Britain, is in the running for the international banknote of the year award.

The new £5 note is the only UK banknote on this year’s short list after being nominated by The International Bank Note Society.

The Scottish fiver will feature alongside banknotes from around the world, including Singapore, New Zealand and China.

David Duffy, Chief Executive Officer of Clydesdale Bank, said: “We are proud that our polymer £5 note has been nominated for the Banknote of the Year Award.

“The note has proved popular with the public and businesses since its launch thanks to its iconic graphics and durable design.”

The notes, designed by De La Rue plc, are the first of their kind in Europe, made from Safeguard polymer substrate.

In a first for UK currency, the note also includes a Spark® Orbital™ security feature.

This appears as shiny ink in the shape of Scotland over a transparent window which changes colour as the note is moved and tilted.

“We take our responsibility as an issuer of banknotes seriously and are excited to be leading the way in innovation,” said Mr Duffy.

Two million of the five pound notes are currently in circulation, and Clydesdale Bank announced earlier this year that a new polymer £10 note, featuring Robert Burns, will go into production later in 2016 and enter circulation in 2017.