Brand new £50 notes are on their way - but when can you get your hands on one?

The £50 note will remain part of UK currency after a "new, more secure" version of the highest-value note in England was announced.

Saturday, 13th October 2018, 2:45 pm
Updated Saturday, 13th October 2018, 3:48 pm
Another of our banknotes is set to go plastic

It will be printed on the thin, flexible plastic material polymer after the Turner £20 note is issued in 2020, the Bank of England said on Saturday.

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But The Treasury said the next batch will scupper criminals by being much harder to forge.

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A decision over what character will adorn the note will be made following public suggestions.

First introduced in 1981, there are currently 330 million £50 notes in circulation, with a combined value of £16.5 billion, the Treasury said.

The Exchequer Secretary to the Treasury, Robert Jenrick, said: "Our coins and notes are respected and recognised the world over and are a key part of the UK's heritage and identity.

"People should have as much choice as possible when it comes to their money, and we're making sure that cash is here to stay.

"Our money needs to be secure and this new note will help prevent crime."

Last year, the Bank of England ignored calls from animal rights activists to ditch polymer notes that contain traces of animal fat.

Polymer is cleaner, more durable, and allows for extra security features to be added, the Bank said, adding they are better for the environment as they last around 2.5 times longer than the paper equivalent.