Bank of England note issues Bank of England note issues The Bank of England, which is now the central bank of the United Kingdom, has issued banknotes since 1694. In 1921 The Bank of England gained a legal monopoly on the issue of banknotes in England and Wales, a process that started with the Bank Charter Act of 1844 when the ability of other banks to issue notes was restricted. Banknotes were originally hand-written; although they were partially printed from 1725 onwards, cashiers still had to sign each note and make them payable to someone. Notes were fully printed from 1855. Since 1970, the Bank
Bank of England £20 note as an illustration of workers in a pin factory. The note features a number of security features in addition to the metallic thread: these include raised print, a watermark, microlettering, a holographic strip, a see-through register, and a colourful pattern which only appears under ultraviolet light. In September 2015 the Bank of England announced that the next £20 note will be printed on polymer, rather than cotton paper. This was followed by an announcement in April 2016 that Adam Smith will be replaced by artist J. M. W. Turner on the next £20 note, which will enter circulation in 2020.