Prepare your retail operations for an aesthetic enhancement at the cash registers, courtesy of the Bank of England (BoE). The BoE has revealed a refined design for its banknotes, showcasing the regal portrait of His Majesty (HM) King Charles III.
This introduction of sophistication to your transactions does not compromise on the overall design, as it maintains consistency with the existing notes.
The newly designed notes will coexist with the current HM Elizabeth II banknotes, ensuring a seamless transition for your business.
Considerations for retailers
- Fashionable designs and co-circulation: Embrace the royal touch on your cash transactions with King Charles III on your banknotes. While featuring a regal portrait, these new notes retain familiar security features for authentication. Both King and Queen's notes will circulate simultaneously, eliminating the need to bid farewell to the Queen's notes at this time.
- Machine makeover deadline: Retailers employing note-handling machines should plan for a store transformation by March 2024. Although the exact release date for the new notes is pending, ensuring that your machines are prepared for the transition is essential for a seamless and sophisticated process.
- Runway ready with manufacturer updates: Commencing October 2023, manufacturers will release updates for your cash-handling machines. Stride confidently into this transition by consulting with your machine's designer for specific timelines, as update schedules may vary.
Retailer's guide to a graceful transition
1. Why update your machines? Keeping your machines current is crucial for recognising and showcasing the new note designs.
2. ATM 'Dispensing Only' machines: a style upgrade needed? Strike a pose and contact your manufacturer. Both the King Charles and Queen Elizabeth notes can coexist in the same cassettes.
3. Self-service checkouts: ready for the catwalk? Absolutely! Ensure your checkouts are updated to gracefully handle and showcase the King Charles notes. Mix and match with the Queen Elizabeth notes for a fashion-forward appearance.
4. UV lamps: illuminating the glamour? No worries! The UV feature remains unchanged, allowing your cashiers to verify the authenticity of the King Charles notes effortlessly.
5. Banknote weighing machines: size and weight harmony? Consult your machine designer for the perfect fit. King Charles notes are tailored to match the size and weight of the Queen Elizabeth notes.
