Clydesdale banks on polymer fivers
Clydesdale Bank has revealed that, on the first day in circulation, almost £1 million worth of its new polymer banknotes were taken out of ATMs and over the counter in the Bank’s 130 branches.
A total of £1.6 million of the new £5 banknotes entered circulation yesterday (Monday, March 23) and such has been the “huge” response from customers that by late afternoon £1 million had already been transacted with some branches experiencing such demand that more supplies were needed.
More branches were to be stocked up in the coming days to meet the continuing demand, the bank said.
The first fully polymer banknotes to enter circulation in Great Britain are made of a more durable material than existing paper notes, and have been launched to coincide with the 125 anniversary of the opening of the Forth Bridge.
Two million notes, worth £10 million, which combine images of the bridge with new security measures to create a unique design, will eventually enter circulation.
Clydesdale Bank is the largest issuer by volume of notes in Scotland. It introduces around £400 million of new notes every year and, earlier this year, reached the milestone of having more than £2bn worth of notes in circulation on a single day.
Debbie Crosbie, Acting CEO of Clydesdale Bank, said: “We were aware there was a huge level of interest in the new banknotes but the response from our customers to today’s launch has been absolutely remarkable.”
