Preparing for Canada’s new polymer bank notes
Feb. 27, 2012, Canada – In preparation for the release and circulation of Canada's new polymer bank notes, the Bank of Canada has released information on how to keep up to speed.
Feb. 27, 2012, Canada – In preparation for the release and circulation
of Canada's new polymer bank notes, the Bank of Canada has released
information to help you keep up to speed.
• $100s in circulation now
• $50s starting March 2012
• $20s starting late 2012
• $10s and $5s by late 2013
Benefits for you
Polymer notes are more secure, with leading-edge security features that are easy to check and hard to counterfeit. They’re also very durable, lasting at least 2.5 times longer than cotton-paper notes and leaving a reduced impact on the environment.
How new bank notes affect you
Check that your equipment is compatible with polymer notes
If your business uses equipment like cash counters, ABMs, self-serve checkouts or vending machines, they may need to be upgraded for polymer notes, or, in some cases, replaced. Contact your equipment supplier or manufacturer for questions about machine compatibility and plans for upgrades.
Note: The Bank of Canada offers manufacturers and suppliers an opportunity to test each new note on their machines several months before they go into circulation to allow for a smooth transition.
Separate polymer and paper notes
The Bank will work to remove paper notes from circulation as more denominations become available on polymer to minimize the amount of time that paper and polymer notes co-circulate. You can facilitate the removal of paper notes by keeping polymer and paper notes separated in your tills and bank deposits.
Note that polymer notes have no ultraviolet (UV) light feature
While there is no UV feature on polymer bank notes, there are a variety of new security features that you can easily check. Contact the Bank of Canada for free training materials or to book a training session.
To learn more, visit www.bankofcanada.com/banknotes