Here’s what people are doing with their first new £5 note… and it may surprise you
The new £5 note went into circulation last week
AS the new £5 notes arrives in people's pockets, social media users are already speculating on what to do when they get their hands on one.
Last week, the Bank of England released 440million new £5 notes made of polymer - a plastic material which means the money is said to be cleaner and more resilient to being crumpled and spilled on.
While a lot of Brits are wondering what to do with their shiny notes, one man has pledged to give his to charity and the trend is quickly catching on.
The idea is believed to have been started by John Thompson who tweeted his plan with the hashtag #fivergiver prompting others to do the same using a poll.
The corporate fundraising consultant and recruiter wrote: “I’ll donate the first new five pound note I get to a charity. Will you?”
Since then, hundreds of people have joined in the fun and even shared their choice of charity using the hashtag #FirstFiver.
One user tweeted: "I've donated mine to @CatsProtection @EmilyCasson you'll love this social campaign! #cats".
Another user added: "Loving the #firstfiver idea. Pledge to donate your first new £5 note to a charity. Who will yours be going to? #fivergiver"
Charities who have already received donations include Cats Protection, Mencap, Women’s Aid, the RSPB and the Child’s i Foundation.
According to the Bank of England the new polymer note is designed to be harder to destroy and they are expected to last an average of five years - compared to the current note's two years.
It will initially only be available from a handful of banks and cash points.
ATMs in London, Manchester, Birmingham, Leeds, Hull and Cardiff are among the first to stock them.
The governor of the Bank of England, Mark Carney, said the new note would be cleaner, safer and stronger.
He said: "The use of polymer means it can better withstand being repeatedly folded into wallets or scrunched up inside pockets, and can also survive a spin in the washing machine."
The old fiver will continue to be valid until 5 May 2017, by which time the Bank expects most of them will have been removed from circulation.
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