Almost half a million people shape next banknote imagery
Victoria Cleland told the Intergraf currency identity conference on October 15, 2026 that trust in banknotes rests on availability, secure design and public engagement. Almost half a million people joined the Bank of England's wildlife consultation.
Cash at 8 percent, notes at £91.5 billion
Cash accounted for 8 percent of all UK transactions in 2025, down from 45 percent a decade earlier, Cleland said.
Yet cash remains the preferred payment method for one in seven people, and almost a quarter use it at least weekly.
The value of Bank of England notes in circulation reached £91.5 billion at the end of February 2026.
The Bank uses payment trends and economic factors to forecast demand and to decide how many notes its printer De La Rue produces.
Last year it took on a role supervising wholesale cash firms that operate cash centres and their backing financial institutions, while the Financial Conduct Authority holds powers to protect retail access to cash.
Two consultations, four animals
In July 2025 the Bank announced a new series with more robust security features and asked the public which theme to feature.
Around 60 percent chose nature, and in March the Bank confirmed UK wildlife.
Working with wildlife experts, it shortlisted animals, and a June consultation let the public pick the central imagery.
Last week the Bank named the Atlantic puffin, barn owl, buff-tailed bumblebee and European hedgehog.
Outreach reached schools, influencers and panels in Llandudno and Devon.
Familiarity as a security feature
Cleland makes a persuasive case that recognisable imagery is part of counterfeit defence, not decoration.
The 1797 surge in forgeries after hasty £1 and £2 issuance gives the argument historical weight.
What remains unproven is how much resilience a hedgehog adds beyond the security features themselves.