Bank of England Picks Four Animals for Series H Banknotes: What It Signals for Cash Strategy
The Bank of England's banknote imagery advisory group has recommended a puffin, barn owl, bumblebee and hedgehog for the next banknote series, balancing public preference with counterfeit resilience.
Source: Bank of England
The Bank of England has moved a step closer to finalising the imagery for its next generation of banknotes, with an advisory group recommending four native animals for the Series H designs. While the decision concerns aesthetics rather than interest rates, it offers a useful window into how the central bank thinks about the future of physical cash.
Key Facts
At a meeting on 15 July 2026, whose minutes were published on 16 October 2026, the Banknote Imagery Advisory Group (BIAG) considered the outcome of a public consultation that drew nearly 500,000 responses through an online survey, post, email and phone.
Respondents could select up to two animals from each of three categories: mammals; birds; and amphibians, insects and fish. Members said the volume of engagement showed the theme resonated with the public.
BIAG agreed to recommend four animals to the Governor as the central imagery for the four denominations of Series H: the Atlantic puffin, barn owl, buff-tailed bumblebee and European hedgehog. The Chief Cashier, Victoria Cleland, will pass the recommendation to the Governor for indicative views before the Expert Panel is consulted on how the animals should be depicted, including habitat choices. The final decision rests with the Governor, with a public announcement targeted for the autumn.
Members were guided by three objectives: supporting counterfeit resilience, reflecting public preference, and celebrating the breadth of UK nature. The group also updated its Terms of Reference to add the Banknote Innovation Programme Director as a core member.
Analysis
The choice of the puffin is the most revealing detail. The fox and kingfisher each attracted more selections within their categories, yet the puffin was included because it brings a marine environment that the others could not. That is a design decision driven by security, not popularity.
Central banks treat banknote imagery as an anti-counterfeiting tool. Distinct forms, movements and habitats make it easier for the public to tell denominations apart at a glance and harder for counterfeiters to produce convincing fakes. By selecting four animals that differ sharply in silhouette and setting, the Bank is prioritising visual differentiation over a pure popularity contest.
There is also a practical angle: the animals' movements could be woven into security features to aid authentication. This suggests the next series will lean on dynamic or optically variable elements, consistent with the global trend toward more sophisticated physical currency.
Implications
The recommendation signals that the Bank remains committed to a durable, well-designed cash series even as digital payments grow. For investors and analysts, the more relevant backdrop is the Bank's parallel work on a digital pound and the Future of Money agenda, reflected in the attendance of the Head of Future of Money.
A strong physical currency and a potential retail CBDC are not mutually exclusive. The Bank appears to be hedging: modernising notes while exploring digital alternatives. For payment firms, cash-in-transit operators and security printers, the Series H timeline implies multi-year investment in production and authentication technology.
For the wider public, the consultation's scale is a reminder that banknote design carries symbolic weight. The Bank must also satisfy its Public Sector Equality Duty throughout the process, a constraint that shapes how imagery is chosen and depicted.
FAQ
Which animals has the Bank of England recommended for the next banknotes?
The advisory group recommended the Atlantic puffin, barn owl, buff-tailed bumblebee and European hedgehog as the central imagery for the four denominations of Series H, subject to the Governor's final approval.
Why was the puffin chosen over more popular animals?
The puffin was included because it represents a marine habitat that the fox or kingfisher could not provide, helping to maximise visual differentiation between denominations and support counterfeit resilience.
When will the animals be announced publicly?
The Bank aims to announce the four animals in the autumn, after the Governor gives indicative views and the Expert Panel is consulted on how the animals should be depicted.