Paper – the natural choice for your money

Cash is a vital part of the global economy. While non-cash transactions are certainly increasing, governments are printing more money now than ever before. That’s because billions of consumers still prefer to pay with cash. In fact, keeping cash is vital to enable the millions of people who do not have access to computers, smartphones or even bank accounts to live their lives.

Almost all banknotes in circulation today are made of durable paper created from a blend of material such as cotton and linen. Some countries have experimented with making money out of plastic, but there are four key facts for why this hasn’t really taken off.

1. Security

Paper banknotes are harder to counterfeit

Paper allows you to use more sophisticated technologies, in a greater number, to prevent counterfeiting

2. Durability

Paper banknotes are durable

Modern banknotes last about three years longer than they used to

3. Sustainability

Paper is a natural, renewable material

Cotton used for banknotes starts life as offcuts from the textile industry

4. Value

Paper costs less to produce

This means your taxes can be deployed on more useful things such as healthcare