When asked by Business Insider if they have any plans to change the way they produce the notes, a spokesperson for the Bank of England said they have no further comment.
Britain's new five pound note was released into circulation in September.
Vegan activist Doug Maw, writing for i, said "no vegan, vegetarian, Sikh, Jain or Hindu would knowingly use a product containing tallow" and called the decision to use the substance "unethical, unfathomable and unacceptable".
The petition, titled - "Remove tallow from bank notes" - will be delivered to the Bank of England once it hits 15,000 signatures.
It said it was treating the concerns with the "utmost respect" and was in discussion with its supplier, Innovia.
Vegans and vegetarians are protesting British cash because it contains animal fat.
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Unfortunately, the book has neither propagated how to treat animals and nor teaches the little ones to love and care for animals. Shilpa Shetty shot to fame in 2007 when she won the fifth series of reality TV series Celebrity Big Brother in the UK.
"To most people this won't really matter, they'll still keep using it because it's the currency", he said.
"Our supplier of polymer substrate, Innovia Security, has confirmed that its polymer substrate used as a base for bank notes contains additives that may be produced from tallow", the message to the CBC reads.
Elliot added that the Bank of England had been very supportive of the situation, after the society spoke with the central bank on Tuesday night.
A petition was launched when it was announced that Winston Churchill would replace Elizabeth Fry on the face of the note meaning no women would feature on the currency.
The Bank of Canada says their bank notes also have tallow, according to a CBC report.
The fast food company stopped frying in delicious, delicious beef tallow in 1990 after outcry from vegetarians who were deceived into thinking they were animal-free.
A smaller plastic £10 note featuring novelist Jane Austen will go into circulation next summer and a £20 polymer note, featuring the artist JMW Turner, is due by 2020.