Bank of Canada unveils new vertical $20 bank note featuring King Charles III

The Bank of Canada has unveiled a new vertical $20 bank note featuring a portrait of King Charles III, with the note set to gradually enter circulation in late February 2027.

Bank of Canada Governor Tiff Macklem joined Governor General Louise Arbour and Secretary of State Wayne Long at an event Thursday to reveal the new note.

The $20 bill is the first Canadian bank note to feature a portrait of King Charles III and marks the first time in more than 70 years that a new monarch has appeared on the denomination.

The note features a floral and leafy design surrounding the King’s portrait, inspired by his lifelong dedication to the environment.

The reverse side retains the Canadian National Vimy Memorial in France, recognizing Canada’s contributions and sacrifices in military conflicts throughout its history.

The front of the note also features the floral emblems of Canada’s 13 provinces and territories. A circular window visible from both sides of the bill includes plants that are culturally significant to Indigenous Peoples in Canada. The Bank of Canada’s Indigenous Advisory Circle collaborated on the design of the window.

The new $20 is the second note in the Bank of Canada’s Vertical series. The first was the $10 note featuring civil rights pioneer and businesswoman Viola Desmond.

The Bank of Canada said it consulted Canadians, government partners and stakeholders, including accessibility groups and organizations connected to the Vimy Memorial, during the development of the new note.

The new bill also introduces security features that have not previously been used on Canadian currency.

A purple security stripe includes elements that spin, transform and pulse as the note is moved. The Bank said the features are designed to make the note easy for the public to authenticate while making it more difficult to counterfeit.

The $20 denomination is the most frequently used Canadian bank note, according to the Bank.

Finance Minister François-Philippe Champagne said the note reflects Canada’s Commonwealth roots and its connections with international allies while recognizing the service and sacrifice represented by the Vimy Memorial.

Secretary of State Long said the note tells a Canadian story shaped by the country’s natural environment, history and international relationships.

Ahead of the note’s release, the Bank of Canada will work with financial institutions, equipment manufacturers and the cash-handling industry to prepare for the transition.

Businesses that use bank note handling and processing equipment will be encouraged to contact their suppliers about any required machine adaptations.

Retailers, law enforcement agencies and other stakeholders will also receive information about the new note’s design and security features before it enters circulation.