The UK’s central bank has launched a two-month public consultation to get the feedback on the move and it is likely that it will make a final call in December 2013.
The bank, which has already conducted a research for the last three years, said that the plastic notes are difficult to counterfeit, more durable, environmental friendly, cleaner, and cheaper, compared to paper based banknotes.
Resistant to dirt and moisture, the proposed polymer note are flexible to fit into wallets and purses and are durable even under harsh conditions, claims the BoE.
The Bank of England deputy governor Charles Bean said that BoE would print notes on polymer only if they feel persuaded that the public would continue to have confidence in, and be comfortable with, the notes.
"The results of the consultation programme on which we are embarking will therefore form a vital part of our assessment of the merits of polymer banknotes," Bean added.
Using the idea that the higher the denomination, the bigger the note, the BoE would prefer to introduce smaller banknotes.
