OFFICIAL STATEMENT Bank of Canada Press Releases

Bank of Canada unveils new vertical $20 bank note

What happened
Based on Bank of Canada Press Releases · Sep 03, 2026

The Bank of Canada introduced a new vertical $20 bank note featuring King Charles III, the first monarch portrait on the denomination in over 70 years, alongside advanced security features and cultural design elements.

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Key points
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This is Canada’s first bank note to feature His Majesty’s portrait and the first time in more than 70 years that a new monarch has appeared on the $20 denomination.
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The new note will gradually enter circulation in late February 2027.
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The back of the note retains the Canadian National Vimy Memorial in France as a tribute to Canada’s contributions and sacrifices in military conflicts throughout its history.
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Provincial and territorial floral emblems representing the 13 provinces and territories appear on the front of the note.
Key numbers
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The Bank of Canada unveiled a new vertical $20 bank note featuring a portrait of His Majesty King Charles III, marking the first time a monarch’s likeness appears on this denomination since 1954.
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The new $20 note introduces security features never before used on Canadian currency, including a purple stripe with elements that spin, transform, and pulse when the note is moved.
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The Bank of Canada introduced a new vertical $20 bank note featuring King Charles III, the first monarch portrait on the denomination in over 70 years, alongside advanced security features and cultural design elements.

The Bank of Canada unveiled a new vertical $20 bank note featuring a portrait of His Majesty King Charles III, marking the first time a monarch’s likeness appears on this denomination since 1954. The design incorporates a floral tapestry inspired by the King’s environmental commitments and retains the Canadian National Vimy Memorial on the reverse. Provincial floral emblems and a circular window with culturally significant Indigenous plants are also included. Governor Tiff Macklem described the note as symbolic and secure, emphasizing its role in reflecting Canada’s history and beauty.

The new $20 note introduces security features never before used on Canadian currency, including a purple stripe with elements that spin, transform, and pulse when the note is moved. These features are designed to be easy for the public to verify while remaining difficult for counterfeiters to replicate. The Bank stated the features will help maintain its technical advantage over counterfeiters and support confidence in cash transactions. The denomination was selected due to its frequent use in daily transactions.

The design process involved collaboration with the Bank’s Indigenous Advisory Circle, government partners, accessibility groups, and stakeholders connected to the Vimy Memorial. Public and stakeholder consultations were conducted to inform the note’s development. The Bank will work with financial institutions, equipment manufacturers, and cash-handling industries to facilitate a smooth transition before the note enters circulation in late February 2027.

The Honourable François-Philippe Champagne, Minister of Finance and National Revenue, highlighted the note’s reflection of Canada’s Commonwealth roots and constitutional traditions through the monarch’s portrait. Secretary of State Wayne Long emphasized the note’s representation of Canada’s natural beauty, history, and global partnerships. The Bank plans to raise public awareness and inform law enforcement, retailers, and other stakeholders about the note’s design and security features to maintain trust in Canadian currency.

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