Freedom of choice
Freedom of choice

In the UK there will be plastic money


In the near future, probably tourists in the UK will use plastic money-cards. It is planned that within three years the Albion withdraw from circulation paper money and move to plastic money.

The decision on termination of a 160-year tradition of using paper banknotes motivated by cost considerations – polymer cards are not afraid of water, they are about 2 times longer than paper and they are much harder to damage. Another important argument in favor of plastic banknotes – the possibility of re-processing of products from polymers.

In the case of switching to plastic banknotes UK will not be an innovator – polymer banknotes are already being used in 20 countries (Australia, Mexico, Singapore, Mauritius and others).

The proposal to replace these cards banknotes 5 and £ 10 Bank UK reviewed in September 2013. It is assumed that the first plastic banknote-a map will be in circulation by 2016 – this is a banknote with the image of Winston Churchill with a nominal value of 5 pounds.

According to studies, plastic banknotes will be able to serve an average of 6 years, while paper money – only about 2 years. After switching to plastic money Bank UK will save on manufacturing and replacement bills over 10 million pounds a year.

Category: Tours
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Date of publication: 23.12.2013

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