Businesses need to be ready for the new 20-euro banknotes in two months time
On 25 November, the central banks of the euro area, including Eesti Pank, will release a new €20 banknote into circulation with a new design and security features. So that the new note can enter smoothly into circulation, it is important for companies to update their cash handling equipment in good time, and to know about the new features of the notes.
The most eye-catching change to the twenty-euro notes of the new series is a completely new security feature, a transparent portrait window on the right of the note on the hologrammic strip. Looking at the note against the light reveals a portrait of Europa in the window. The other security features – the watermark portrait of Europa and the hologrammic strip, the emerald green number, and the short raised lines on the edge of the note – are like those on the five and ten-euro notes of the new series.
Paying with the new banknotes will be simple and straightforward a long as merchants update their cash-handling equipment and authentication devices. To do this they will need to contact their equipment suppliers.
“All retailers have to accept circulating banknotes that are legal tender. If the cash authentication device is broken or needs updating, it is still possible to check the authenticity of notes using the feel, look, tilt method”, said Rait Roosve, Head of the Cash and Infrastructure Department at Eesti Pank.
Eesti Pank is organising training events about the new banknotes for cash handlers in Tallinn, Tartu, Pärnu and Narva in October and November. Details of the training events and registration information can be found in Estonian on the Eesti Pank website.
More detailed materials on the security features of the banknotes, with pictures and videos can be found on the website www.new-euro-banknotes.eu/.
In addition to this, the European Central Bank will send all cash handlers in Estonia a booklet on the new twenty-euro note in October. The booklet can also be ordered from Eesti Pank ([email protected], 6680 719).
The European Central Bank has published a list of devices that can authenticate the banknotes of the new series, including the twenty-euro note, on its website (http://www.ecb.europa.eu/euro/cashprof/cashhand/devices/html/results.en.html).