Many of us still use ‘paper’ money, the good old ‘folding stuff’, to pay for goods and services and the assumption is that when we offer each bank note, it is the genuine article. Recent changes from paper to polymer-based notes introduced more sophisticated security features that are even more of a deterrent to forgers, or should that be a challenge?
We recently heard from a client that their bank (HSBC) told them that fake polymer-based notes could be circulating in the Watford area so we thought you might be interested in knowing how to spot the real thing. According to the Bank of England, counterfeit bank notes are rare accounting for typically 0.02% of notes in circulation, but it pays to be careful because if the notes in your wallet are part of that 0.02%, they are still worthless.
Click here to download the Bank of England’s guide to the security features built into the new polymer-based bank notes.