{"id":326609,"date":"2011-03-21T10:34:14","date_gmt":"2011-03-21T10:34:14","guid":{"rendered":"http:\/\/www.ghanamma.net\/2011\/03\/21\/bank-confirms-5-note-injection\/"},"modified":"2011-03-21T10:34:14","modified_gmt":"2011-03-21T10:34:14","slug":"bank-confirms-5-note-injection","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2011\/03\/21\/bank-confirms-5-note-injection\/","title":{"rendered":"Bank confirms \u00a35 note injection"},"content":{"rendered":"

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\n 21 March 2011<\/span>
\nLast updated at <\/span>06:34 ET<\/span>
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An injection of quality \u00a35 notes through ATMs to improve the mix of cash available to consumers has been confirmed by the Bank of England.<\/p>\n

The 10 largest cash machine operators have committed to increase the frequency of fivers in place of higher denomination notes.<\/p>\n

About 10% to 15% of their machines will be altered to dispense \u00a35 notes.<\/p>\n

Last week, the BBC revealed that fewer than 3% of UK cash machines dispense the smallest denomination notes.<\/p>\n

Plans<\/span><\/p>\n

In a speech<\/a> to the Currency Cycle Conference in Barcelona on Monday, the head of the Bank’s notes division, Victoria Cleland, said it was monitoring a plan to improve the quality and availability of \u00a35 notes.<\/p>\n

\n\tContinue reading the main story<\/a>\t\t<\/p>\n

\u201cStart Quote<\/span><\/h2>\n
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The \u00a35 note is made from cotton fibre and linen rag – but finding one in a cash machine is like gold dust\u201d<\/p>\n<\/blockquote>\n

End Quote<\/span><\/p>\n

\n\t\tKevin Peachey<\/span>
\n\tPersonal finance reporter, BBC News<\/span><\/p>\n\n

\t<\/p>\n

\t\n\t<\/div>\n

Many \u00a35 notes have become grubby and torn, because they change hands more frequently and do not return for sorting as much as other notes.<\/p>\n

More than 70% of banknotes initially reach the public via the UK’s 63,000 cash machines, from which \u00a320 notes dominate. <\/p>\n

Now the ATM operators will:<\/p>\n