Yesterday, a brand new banknote went into circulation, featuring a new face and a new kind of material. As with any new changes, there are both approvals and arguments against, but what do we think overall?
New research from Consumer Intelligence shows that while disagreements have been made regarding the material, the majority support the additions, with over 51% approval.
Arguments against the new polymer material typically come from those concerned about animal fats being used and those who prefer the feel of traditional paper money over the plastic, stating concerns over the practicality of misplacing or sticking plastic money.
Over 67% of people side with the polymer, telling us they feel the notes are cleaner and more hygienic and 52% tell us their preference is down to a more modern feel. For many, this new material aims to address more modern needs, proving to be more durable, secure, and even more widely representative of our diverse communities.
Jane Austen will be the first woman other than the queen to be featured on our bills after a four-month hiatus, when Winston Churchill was introduced on the new £5 note. Along with a woman being represented, the new notes also include braille writing, allowing people who are visually impaired to discern between notes.
It appears that this new note is a step towards modernity, security, and inclusion, but it may be too early to see all sides to its application.
Let us know what you think of this new note in the comments below!