Northern Bank today announced, in co-operation with the police, that it is to replace its entire current series of notes in response to the robbery at its cash centre.
All existing £10, £20, £50 and £100 notes are to be replaced with new ones. The bank's polymer £5 notes will not be affected. All new notes will be of the same design as the old ones, but will be printed in a different colour, feature a new Northern Bank logo, and bear new prefixes to their serial numbers.
The process of printing new notes will take up to eight weeks.
The new notes will be put into circulation as soon as possible thereafter, and the existing stock of notes phased out accordingly. The changeover process will take a number of weeks and the public will be kept fully informed every step of the way.
Northern's sister bank National Irish has recently undertaken a similar exercise when its note stock of Irish pounds was replaced by Euros and so therefore we have the relevant experience and expertise to manage this complex logistical exercise.
The cost of replacing the notes will be up to £5 million.