1. Identifying a fake paper or polymer note
Polymer ₤ 5 and ₤ 10 notes have actually totally changed paper notes because 2018, while this year has actually seen the release of polymer ₤ 20 notes into circulation.
All notes will be polymer by the end of 2021, when the Bank of England expects to have released a ₤ 50 polymer note.
But with paper notes still in blood circulation and polymer notes having additional security functions to make them harder to counterfeit, what should you be keeping an eye out for to identify if your money is fake?
Initially, let's take a look at how to spot a fake paper banknote. If you're particularly thinking about spotting fake plastic notes, scroll straight to point 8.
These are printed on a special product, so make sure you inspect how the paper feels.
An authentic banknote has a cloth-like feel, while a fake note will feel more like standard paper.
₤ 50 banknote (Image: Bank of England).
2. Raised print.
Run your finger throughout the paper note and if it's real, you need to be able to feel the raised print on areas such as the words 'Bank of England' on the front.
If it's a counterfeit, the note is unlikely to have a textured feel to it and will feel flat all over.
3. Inspect the metallic thread.
A metal thread is embedded in every paper banknote.
This looks like silver dashes on the back of paper ₤ 20 and ₤ 50 notes (see more info on identifying phony paper ₤ 20 notes on this Bank of England page).
The thread is woven through the paper-- not simply printed on-- so when you hold it approximately the light it need to look like a constant dark line.
This looks like intense green dashes on the front of ₤ 50 notes.
Each dash is in fact a window which consists of pictures of the '₤' sign and the number '50'. When the note is slanted from side to side, the images move up and down.
When the note is tilted up and down, the images move from side to side and the number '50' and '₤' symbol swap places.
4. Check the watermark.
If you hold a genuine note up to the light, you need to see a picture of the Queen's picture.
Nevertheless, if you can still see the watermark when the note is flat and not held up to the light, it's likely to be a dodgy note.
5. Check the print quality.
The printed lines and colours on genuine notes will be detailed and sharp and free from spots or blurred edges. So make certain you examine the information carefully.
If the quality is poor or unpleasant, you have actually got yourself a phony!
6. Check under ultra-violet light.
This isn't so convenient if you have actually just been offered a banknote in a store, but if you're actually identified to find out whether your note is fake or genuine, put it under ultra-violet light.
If counterfeit money for sale it's the real deal, its value will appear in brilliant red and green numbers while the background will be dull in contrast.
The paper ₤ 20 and ₤ 50 notes likewise have intense red and green flecks arbitrarily spread over the front and back of the note.
7. Utilize a magnifying glass.
Utilize a magnifying glass to look carefully at the lettering below the Queen's picture. On a genuine note, decorative swirls define the worth of the note in small letters and characters.