The Bank of Canada has unveiled a redesigned vertical $20 banknote featuring King Charles III, marking the first time the monarch has appeared on a Canadian banknote and the first appearance of a new monarch on the denomination in more than 70 years.
The new polymer note was formally presented in Ottawa on Thursday, September 3, by Bank of Canada Governor Tiff Macklem alongside Governor General Louise Arbour and other officials.
The predominantly green banknote replaces the portrait of the late Queen Elizabeth II with a centred portrait of King Charles III. The Bank of Canada said the new note is scheduled to begin entering circulation in late February 2027, while existing $20 notes bearing Queen Elizabeth II will remain in circulation
The redesign represents a significant moment in Canadian monetary history. Queen Elizabeth II had appeared on Canadian currency since 1935, initially as an eight-year-old princess, while the current $20 note bearing her portrait was introduced in 2012.
Beyond the change in portrait, the new $20 note introduces advanced security technology not previously used on Canadian banknotes. Among the features is a contrasting purple security stripe containing elements that appear to move, transform or pulse when the note is tilted, alongside raised ink, gold maple leaves and other authentication features.
The design also incorporates symbols representing Canada’s provinces, territories and Indigenous heritage. Floral emblems from all 13 provinces and territories surround the portrait, while a transparent circular window includes wild strawberries, western red cedar, braided sweetgrass and Arctic cotton—plants identified as culturally significant to Indigenous peoples
The Canadian National Vimy Memorial remains prominently featured on the reverse of the banknote, continuing the $20 note’s commemoration of Canadian military service and sacrifice. Poppies, traditionally associated with remembrance of those killed in war, are also incorporated into the design.
Accessibility was also incorporated into the redesign, including tactile markings and large, high-contrast denomination numbers to help people who are blind or partially sighted identify the note. The familiar green colouring of Canada’s $20 denomination has been retained.
The Bank of Canada described the unveiling as historic, noting that the $20 is Canada’s most widely circulated banknote denomination. More than one billion $20 notes were already in circulation at the end of 2023, underscoring the scale of the transition expected once the new King Charles III notes begin reaching banks, businesses and consumers.
The existing Queen Elizabeth II $20 notes will not suddenly become invalid when the new design is introduced. They will continue circulating as the King Charles III notes are gradually introduced into Canada’s currency system.
