The Bank of Canada has officially unveiled its new vertical $20 banknote, introducing the first Canadian banknote to feature King Charles III and the second denomination in the country’s developing Vertical series.
Unveiled on September 3, 2026, the new polymer note will begin gradually entering circulation in late February 2027. It follows the vertical $10 note featuring Viola Desmond, which was introduced in 2018.
The new $20 also marks a significant moment in Canadian currency history. It has been more than 70 years since a new monarch first appeared on a Canadian banknote, and King Charles III becomes the first new monarch depicted on the $20 denomination since Queen Elizabeth II.
King Charles III Featured on the Front
The front of the new $20 features a portrait of His Majesty King Charles III, continuing Canada’s tradition of placing the reigning monarch on the denomination.
Surrounding the portrait is an extensive botanical design inspired in part by the King’s longstanding interest in environmental conservation and sustainability. Floral emblems representing all 10 provinces and three territories are incorporated into the design, with stems and leaves inspired by illustrations found in the Books of Remembrance housed on Parliament Hill.
The note retains the familiar green color traditionally associated with Canada’s $20 denomination while adopting the vertical orientation introduced with the $10 note.
Vimy Memorial Remains on the Reverse
While the portrait has changed, one of the most recognizable elements of the previous $20 has been retained.
The reverse continues to feature the Canadian National Vimy Memorial in France. The monument commemorates Canadians who served during the First World War and those who died in France with no known grave. The Canadian government had previously confirmed that the memorial would remain part of the new design.
Its retention creates a direct visual connection between the new Vertical series note and the previous polymer $20 while the remainder of the design moves in a distinctly new direction.
Indigenous Plants Incorporated Into the Design
Another prominent feature is a circular transparent window visible from both sides of the note.
Inside are four plants with cultural significance to Indigenous Peoples in Canada: wild strawberries, western red cedar, braided sweetgrass and arctic cotton. The plants were recommended by the Bank of Canada’s Indigenous Advisory Circle and represent themes of sustenance, gratitude and healing.
Combined with the provincial and territorial flowers, botanical imagery becomes one of the strongest recurring visual themes throughout the note.
New Security Technology
Beyond the change in portrait and overall design, the new $20 introduces security technology not previously used on a Canadian banknote.
A contrasting purple security stripe contains several dynamic elements that change as the note is tilted. A three-dimensional bubble magnifies small 20s within it, a maple leaf appears to pulse, bands rotate within the petals of a poppy, and background 20s transform into maple leaves.
The note also continues the use of raised ink. It can be felt on the portrait, the large denomination number and the word “CANADA.” According to Bank of Canada Governor Tiff Macklem, the new $20 combines security technologies that have never before been used on a Canadian banknote.
Accessibility also remains an important part of the design. The note includes tactile elements, large high-contrast denomination numbers and the familiar green denomination color. The contrasting purple security stripe provides another visual characteristic that helps distinguish the $20.
Canada’s Vertical Series Continues
The new $20 is only the second denomination in what will eventually become a broader generation of vertical Canadian banknotes.
Canada began the series with the Viola Desmond $10 in 2018. The Bank of Canada has also begun development of a new vertical $5 featuring Terry Fox, although a release date for that denomination has not yet been announced. Work is also underway on future $50 and $100 notes.
The transition will therefore occur gradually rather than through the simultaneous replacement of the entire series.
New Canadian $20 Banknote Specifications
Country: Canada
Denomination: 20 dollars
Issue: 2027
Unveiled: September 3, 2026
Circulation: Late February 2027
Material: Polymer
Orientation: Vertical
Primary color: Green
Size: 152.4 × 69.85 mm
Portrait: King Charles III
Reverse: Canadian National Vimy Memorial
Signatures: Carolyn Rogers and Tiff Macklem
The new $20 will gradually enter circulation beginning in late February 2027. Existing Canadian $20 notes will continue to circulate alongside the new issue, meaning collectors should expect the transition to take place over time rather than as an immediate replacement.
For collectors, the 2027 $20 is particularly notable as the first Canadian banknote carrying the portrait of King Charles III. It also provides the clearest indication yet of the design and security direction Canada is taking as it expands its Vertical series to additional denominations.
Sources: Bank of Canada, September 3, 2026 – Press Release
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