What are polymer banknotes?
Polymer banknotes are made from plastic (polymer substrate) and offer distinct durability and security advantages over traditional paper banknotes. Paper banknotes aren’t made from paper at all, in fact, they are commonly made from a cotton blend which explains why the banknote can survive a spin cycle in your washing machine. Polymer banknotes not only feel completely different when held, they also allow new design features, artwork and some even become commemorative of a bank’s decision to make the switch making them more desirable to collectors. In addition, counterfeiting currency has led to an increased demand in security features that paper banknotes simply don’t have. For these reasons, more and more banks are switching to polymer banknotes as of 2017 because the benefits outweigh the costs.