The Bank of Scotland notes are made entirely from polymer – a form of plastic – meaning they are less prone to tearing than paper ones.
The first polymer banknotes entered circulation in Scotland in March 2015 when Clydesdale Bank issued two million notes to commemorate the 125th anniversary of the opening of the Forth Bridge.
Slightly smaller than the existing £5 notes in circulation, the new notes will reuse the existing Bank of Scotland £5 design, with the front retaining the portrait of Sir Walter Scott.
A new security feature has been incorporated in the form of a transparent window which changes colour as the note is moved and tilted.
Philip Grant, treasurer of Bank of Scotland, said: “Polymer is cleaner, greener and more durable, and I am delighted our new five-pound note is today entering circulation.
“Bank of Scotland has been issuing banknotes for over 320 years and I am proud we are continuing to innovate with this new note which will provide enhanced counterfeit resilience.
“We expect polymer notes to last at least two-and-a-half times longer than the current generation of fivers so they bring a clear environmental benefit too. The new note retains our much-loved design of Sir Walter Scott with the iconic Brig O’Doon pictured on the back.”
All existing paper Bank of Scotland £5 notes will gradually be withdrawn following the issue of the new note, but any in circulation will continue to hold their value and be accepted at shops, banks and cash payment machines.
The bank also plans to replace its £10 paper notes with polymer versions in 2017.