The new €50 banknote will need cash handling equipment to be upgraded
On 4 April 2017, the central banks of the euro area, including Eesti Pank, will release a new €50 banknote into circulation with a new design and security features. So that the new fifty-euro note can enter smoothly into circulation, it is important for companies to update their cash handling equipment in good time.
Having cash handling and authentication devices ready technically will make sure that payments with the new banknote can be made correctly when it enters circulation.
“All traders have to accept currency that is legal tender, and there is still about half a year to prepare for this”, said Rait Roosve, Head of the Cash and Infrastructure Department at Eesti Pank. “Not being ready technically or not having authentication devices is not a reason to refuse to accept any banknote. Anybody can check the authenticity of banknotes without using special equipment. You just need to know which security features to look at, and which to feel”.
The authenticity of the banknotes of the new series can be checked by looking at, feeling and tilting the notes. The notes have four simple security features for this: the watermark and the hologrammic stripe with a portrait of Europa, the emerald green number, and the short raised lines on the edge of the note.
The new €50 note has the same security feature as the €20 note as well, a transparent portrait window near the top of the hologram.
To check the security features of notes of both the old and the new series, look at the banknote against the light, tilting it back and forth, and feel its surface. More detailed materials on the security features of the banknotes can be found on the new €50 website.
Traders can get help in preparing their cash handling equipment from equipment suppliers. Suppliers needing to test the equipment with the new €50 banknote should contact Eesti Pank.
Eesti Pank will organise thorough training courses on the new banknote in Tallinn, Tartu and elsewhere in Estonia for cash handlers who will be using the note before it comes into circulation. More detailed information on the courses will be published on the website and sent out by email. Anyone interested in these courses may contact Eesti Pank about them.
In addition to this, the European Central Bank will send all cash handlers in Estonia a booklet on the new €50 banknote. The booklet is free and can also be ordered from Eesti Pank ([email protected], +372 668 0719).
Pictures and videos of the new €50 note can be found on the website for the notes.