This is a trade facing website. Visit the ACTís consumer site thecyclingexperts.co.uk for information and advice on cycling and find your local independent cycle retailer.
The Association of Cycle Traders
This is a trade facing website.
Visit the ACTís consumer site at thecyclingexperts.co.uk.

Search News

Results: 1-10 of 1876


6 Apr 2020

The ACT has initiated a campaign to support retail owners with a scheme comparable to theJob Retention Scheme for our employees.

3 Apr 2020

The Business Secretary has called on high street lenders to ease access to the Coronavirus Business Interruption Loans Scheme (CBILS) for small independent retailers during the crisis.

2 Apr 2020

The National Living Wage and National Minimum Wage rates increased yesterday, following recommendations made to the Government by the Low Pay Commission

1 Apr 2020

If you are an NHS or Key Worker get in touch with Freewheel for a free care package worth £100!

1 Apr 2020

Decarbonising transport: setting the challenge states the current challenges and steps to be taken when developing the transport decarbonisation plan.

31 Mar 2020

As Local Bike Shop Day is a day encompassing the whole trade, the final judgement was given to the bike shops that had signup to take part. Out of all the respondents the overwhelming majority -...

31 Mar 2020

The Treasury Select Committee led by Mel Stride MP, has challenged the Association of British Insurers regarding the support offered to business via their members, with specific regard to...

30 Mar 2020

According to the Northern Ireland Executive Office, bicycle shops are included on the list of essential shops that "can continue to operate but are under a legal duty to adopt social...

27 Mar 2020

eBay has today pledged to support small business owners by offering a 30day payment holiday for existing sellers and is waiving fees for all new businesses registering to list or sell until...

27 Mar 2020

UK VAT registered business with VAT payments due between 20 March 2020 and 30 June 2020 have the option to defer the payment until a later date or pay the VAT due as normal

Back to news menu

Polymer £20 Bank Notes have entered circulation

Posted on in Business News , Cycles News , Political News

From 20th February the new polymer £20 will enter circulation and begin appearing in ATMs across the UK.  

The £20 polymer note has been designed to be the most secure banknote yet, incorporating sophisticated security features which are difficult to counterfeit but are simple for retailers to check.

The two main security features to look out for are:

  1. See through windows - Look at the metallic image over the main window. Margate Lighthouse appears in gold foil with the Turner Contemporary gallery in blue and the foils are silver on the back. There is another small see-through window in the bottom corner of the note.
  2. Hologram image - The metallic patch under the main window contains the word ‘Twenty'. This changes to ‘Pounds' when the note is tilted from side to side.

Paper £20 notes will remain legal tender and should be spent and accepted as usual. These notes will be gradually withdrawn as they are banked. Notice will be given six months ahead of legal tender status being withdrawn.

Checklist for Retailers

  • Make sure that you know which cash handling machines are being operated by your business. These machines include: self-service check-outs, ATMs, desktop counters, ticket machines and any other machines that weigh, count, sort, accept, dispense or recycle banknotes.
  • Contact the manufacturer or supplier of your machines to discuss what adaptations will be required for issuance of the new £20 note, and when they will be available. For most machines, a software update will be needed.
  • Aim to implement adaptations to your machines before any new note is issued.
  • Train your staff on the new features of the polymer £20 note

The full list of security features and more information about the new polymer banknote are available here.

Back to news menu

Add a comment

The ACT will not share your email address with anyone and it will not be published on the website.