Puffins, dolphins and bumblebees are among the wildlife that could feature on new banknotes in the UK as the Bank of England announces its shortlist.

There has been controversy over the decision, with figures including Nigel Farage criticising the Bank for, he claimed, wanting to replace Winston Churchill with a beaver. The Conservative leader, Kemi Badenoch, said it was “a silly thing to do”, and Reform UK’s Farage called it “absolutely crackers”. In the end, no beaver appeared on the shortlist. Mammal options include bottlenose dolphins and red foxes.

However, it is primarily an anti-counterfeiting measure. Announcing the consultation, the Bank defended the decision and said banknotes were updated periodically to incorporate the newest security and accessibility features.

It said the wildlife imagery “provides an opportunity to celebrate another important aspect of the UK”. The Bank added that the notes would have security technology to help prevent counterfeiting and said animals were especially well suited for this.

The RSPCA has also criticised the Bank, saying it should focus on less well-loved animals such as pigeons, rats and seagulls.

A panel of wildlife experts helped come up with the shortlist, which can be voted on by the public from today. All species included are native to Britain and the list contains endangered creatures such as Atlantic salmon and the marsh fritillary butterfly.

The winning wildlife will replace figures including Jane Austen, Winston Churchill and Alan Turing to become the central image on the £5, £10, £20 and £50 notes. Only the animals on the list will be considered.

The list has been grouped into three categories: mammals, birds and one category combining amphibians, insects and fish. The public can select up to two examples from each category in a consultation running until 3 July.

Wildlife was the most popular theme for the new banknotes, the Bank said, after it ran a consultation on what the next pictures should be.

It will use the public vote to choose “four distinct animals” across the notes so they are easy to tell apart. This means the animals with the most votes will not necessarily be the ones chosen because some of them look too much alike. The designs will also choose different elements from nature to complement the animals chosen.

Victoria Cleland, the Bank’s chief cashier, said: “I very much hope the public will enjoy engaging in our consultation to choose the animals to feature on our next series of banknotes. The shortlisted animals demonstrate the rich variety of wildlife we have to celebrate in the UK.”

The Bank said it would be some years before the notes entered circulation as the process to design and test them was lengthy.

In Scotland, notes issued by the Royal Bank of Scotland feature mackerel, otters, red squirrels and osprey.

Shortlisted mammals

Bottlenose dolphin

Brown hare

European hedgehog

Grey seal

Pine marten

Red fox

Shortlisted birds

Atlantic puffin

Barn owl

Common kingfisher

Eurasian curlew

Great spotted woodpecker

White-tailed eagle

Shortlisted amphibians, insects and fish

Atlantic salmon

Basking shark

Buff-tailed bumblebee

Common frog

Emperor dragonfly

Marsh fritillary butterfly