Canada’s next $20 banknote brings together a new monarch, familiar Canadian imagery and several design elements never before seen on the country’s currency.
Unveiled Sept. 3 by the Bank of Canada, the new vertical note features King Charles III on the face, making it the first Canadian banknote to carry his portrait. It also marks the first change of monarch on the $20 denomination in more than 70 years. The note is scheduled to begin entering circulation gradually in late February 2027.
The King’s portrait is surrounded by a tapestry of flowers and foliage inspired by his long-standing interest in environmental conservation. Woven into the design are the official floral emblems of Canada’s 10 provinces and three territories, giving the face of the note a distinctly national character while framing the new royal portrait.
Another prominent feature is a circular transparent window visible from both sides of the note. It incorporates plants with cultural significance to Indigenous Peoples in Canada, with the Bank’s Indigenous Advisory Circle collaborating on that portion of the design. The window introduces another layer of symbolism to a note that combines the monarchy, Canada’s natural environment and Indigenous perspectives.
The back of Canada’s new vertical $20 banknote retains the Canadian National Vimy Memorial in France, surrounded by maple leaves, poppies and other botanical imagery. The memorial honours the service and sacrifice of Canadians in military conflicts.
The reverse retains one of the most recognizable elements from the existing $20 banknote — the Canadian National Vimy Memorial in France. Its continued presence maintains a connection with the current polymer $20 while commemorating Canada’s military service and sacrifice. The result is a banknote that introduces an entirely new face while preserving an image familiar to Canadians and collectors.
The new $20 also continues the vertical format introduced with the Viola Desmond $10 banknote. That makes it only the second Canadian denomination designed primarily in a vertical orientation, signalling that the Bank is carrying the concept forward as it develops the next generation of Canadian banknotes.
NEW SECURITY FEATURES INTRODUCED
Collectors will also find several technical changes incorporated into the design. A prominent purple security stripe contains elements that appear to spin, transform and pulse as the banknote is tilted or moved. The Bank says some of the security technology has never previously been used on Canadian currency and was designed to make genuine notes easier for the public to authenticate while presenting another obstacle to counterfeiters.
The $20 is particularly important to the Bank’s anti-counterfeiting efforts because it is the denomination Canadians use most often. Before the new banknotes enter circulation, financial institutions, retailers and manufacturers of cash-handling equipment will be given time to prepare machines and processing systems for the redesigned denomination.
The banknote was developed following consultations with Canadians and organizations representing a variety of interests, including accessibility groups and organizations connected with the Canadian National Vimy Memorial. The Bank also worked with government partners and other stakeholders during the design process.
For collectors, however, the historic significance is likely to centre on the portrait. Queen Elizabeth II appeared on Canadian banknotes throughout much of her reign, making the arrival of Charles III a major change in Canada’s paper-money series. The February 2027 release will give collectors their first opportunity to obtain a circulating Canadian banknote bearing the portrait of King Charles III — and the first $20 of a new reign.
To view the new $20 note and its features, click here.