From September 2015 the UK spending limit on contactless cards will increase from £20 to £30 per transaction. When the technology was first introduced the spending limit was £10, which increased to £20 following fast take-up of the payment method. The increase to £30 follows a serge in the use of contactless payments in the…
Yesterday’s announcement from De La Rue (DLR), a large commercial banknote printer and passport manufacturer based in the United Kingdom, has confirmed that they have signed a new 10 year contract with the Bank of England. The contract is to print sterling GBP banknotes at the Bank’s note printing facility in Debden, Essex, UK, and will…
A press release issued today by the Bank of England has announced that polymer £5 and £10 banknotes will be issued from 2016. The new notes will use similar designs to the existing £5 and £10 banknotes currently in circulation – including similar colour schemes as the previous notes and a portrait of Her Majesty…
A 5-year long concerted effort of the Bank of England with participation of major UK banks and building societies to improve deteriorating quality and volumes of circulating £5 notes is evidently paying off. In yesterday’s press release the Bank of England announced success in its initiative to increase the availability of good quality £5 notes.…