The new plastic £10 note, featuring the face of Jane Austen, is now in circulation.
The note is made of polymer, and includes a range of new security features intended to make it much harder to forge.
So what do small businesses need to know about the new £10 note?
The new note entered circulation (and became legal tender) on 14 September, following the introduction of a new fiver last year.
The new £10 note is different from the old version in several ways.
First, it’s slightly smaller, just like the new fiver. It’s also made of polymer, making it significantly more durable – even if it goes through the wash.
The new tenner is also designed with the partially sighted in mind, with a range of tactile information included in order to help those with seeing problems know what they’re holding.
However, for small businesses the main changes are related to security. These include:
The note is only genuine if it contains all of these features.
All businesses must continue to accept the old £10 note until some point during the first half of 2018.
The exact date that they will be removed from circulation will be announced later, with at least three months’ notice.
If you’re lucky, your new £10 note could be worth much more than a tenner.
You should particularly look out for those with serial numbers beginning ‘JA’, after Jane Austen. Experts think that JA57 and JA17 could be particulary valuable, because they are the year of the author’s birth and death respectively.
Will the new notes make life easier or harder for your business? Let us know below.
We create this content for general information purposes and it should not be taken as advice. Always take professional advice. Read our full disclaimer
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