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Retailers need to prepare for new notes says Bank of England.

The next few years are big for UK banknotes with the Bank of England issuing a new £5 note in September this year, followed by a new £10 note in 2017 and a new £20 note planned for 2020.

Sir Winston Churchill will feature on the back of the £5 note while Jane Austen will feature on the back of the new £10 note next year.

The Bank of England is urging retailers that handle cash to prepare for these changes and the migration.

Customers will be using the new £5 notes from September, before the new £10 note is issued in late 2017, and the old £5 paper notes will have been withdrawn.

Staff need to be trained to recognise the new notes.

The Bank of England will be unveiling the full design and security features for the new £5 note around three months before the issue date, and a range of training materials will be available.

The next £5, £10 and £20 banknotes will be printed on polymer, a thin and flexible plastic material which are said to be cleaner, more secure and more durable than paper notes. Incorporating new and advanced security features will make them more difficult to counterfeit.

Did you know - in the first half of 2015 around 119,000 Bank of England counterfeit banknotes were taken out of circulation with a face value of £2.3 million. This is just a tiny proportion of the genuine banknotes in circulation; an average of over 3 billion with a face value exceeding £61 billion.

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