THE first polymer banknote made by the Bank of Scotland is to be auctioned off for charity.

The limited edition five pound note will go under the hammer to raise money for BBC Children in Need.

Earlier this year the bank announced that its next £5 and £10 banknotes will be printed on polymer.

The design of the main replacement polymer £5 note will be unveiled early 2016 with the note itself being issued in the second half of the year. It will be followed around a year later by the polymer £10 note.

The banknote was designed by Kayla Robson, a 13 year-old-school pupil from Dundee who won a competition which challenged children to create a note with the theme ‘What does BBC Children in Need mean to you?’.

The £5 will be a one-off limited edition, with circulation limited to just 50 notes to make it popular among collectors.

Pudsey Bear, charity’s mascot, makes a special guest appearance on the note with Kayla’s design depicting him raising a Saltire.

The serial numbers on the note will also be unique with the first 40 notes using the serial code PUDSEY01 to PUDSEY40.

The remaining 10 banknotes will be available for personalised serial numbers, such as initials and date of birth.

Most of the notes will be auctioned in December by the prestigious auction house Spink’s, renowned for its sales of banknotes and coins.

Annette Barnes, Bank of Scotland managing director (Retail) said: “This new five pound note is brighter and bolder than most other banknotes in circulation and really brings to life what BBC Children in Need means to so many people.

"Kayla did a fantastic job with her design and I am delighted to see how we have been able to incorporate it into our first polymer banknote. It is the first time a child’s design has been used to create any UK banknote and we hope to raise lots of money for BBC Children in Need.”

Kayla added: “I am very excited to see my design on the new £5 note. Art has always been one of my favourite subjects but I never expected one of my drawings to end up on a banknote.”