More cash points dispense £5 notes

Click to follow
The Independent Online

The number of £5 notes dispensed from cash machines will have soared five-fold by Easter next year, the Bank of England said today.

Around £122 million of the sought after notes will be dispensed from ATMs each month by April, up from £22 million now. The increase follows a range of initiatives by the Bank to get more £5 notes into circulation, including pilot schemes with HSBC and Sainsbury's, under which the notes were dispensed from ATMs.

A number of financial institutions and ATM operators are now dispensing the notes, and retailers giving more in change.

As a result, by 2012 it is estimated that an extra 400 million £5 notes will be in circulation.

The notes should also be sorted more often, meaning that the average quality of fivers should improve, too.