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2018

Industry Update –

New $50 Assurance Banknotes

The new $50 assurance banknotes will be available at face value for machine users from 23 August 2018. These assurance banknotes will enable you to test and validate the solutions deployed for your machines to process the new $50 banknotes.
If you completed a Banknote Access Agreement in 2017 to obtain $10 assurance banknotes, you do not need a new agreement, you simply need to complete a new request form (Annexure A of your agreement) to advise us of the quantity of banknotes required, the courier you will be using and your preferred collection point (Sydney or Craigieburn). We will advise payment details and specific shipping dates closer to the time. The assurance banknotes will be available in multiples of 10.
If you do not already have an agreement, please express your interest to obtain assurance banknotes by emailing IndustryEngagement@rba.gov.au. You will need to include:

  • Legal company name and its Australian Business Number, Australian Registered Body Number or Australian Company Number
  • Registered Office or Head Office address 
  • Name of person(s) for correspondence and responsibility of activity
  • Address, facsimile number and email address of person(s).

We will provide an Agreement for you to sign and return to us, including details about the quantity of banknotes required, the secure courier you will be using and from where you wish to collect the banknotes (Sydney or Craigieburn).
The Agreement specifies limitations on the use of the assurance banknotes prior to them entering general circulation in October.
Once the new $50 banknote has entered general circulation in October, you will be able to use the assurance notes in the same way as for banknotes in general circulation. (Please note that any assurance banknotes damaged through testing should be returned in accordance with the Reserve Bank's Damaged Banknote Policy.
There are alternative arrangements should you need access to banknotes before the assurance banknotes become available. Please contact us at IndustryEngagement@rba.gov.au or 1800 633 220 if you need to discuss these arrangements.

Fitness Standards Survey

Last month we engaged some of you for feedback as part of our review of the banknote fitness standards. The standards specify the acceptable level of wear and tear on a banknote. Banks and armoured car companies use the standards to determine when banknotes are unfit and should be removed from circulation. We have received very few responses to date, which makes it challenging to be able to consider the impact of these standards on your work. We would appreciate you sending your responses to this survey as soon as possible.
Further information on the new $50 banknote, including videos explaining the new features, can be found at www.banknotes.rba.gov.au.

Previous Industry Updates are available on the Industry Engagement Hub.

Industry Update –

Project update

The new banknote program is progressing well. We are on track for the new $50 to enter general circulation in October this year.

Circulation of the new $5s and $10s is tracking well. There are now more than 121 million new $5s and 40 million new $10s in circulation (as at the end of April). These figures equate to 56 per cent and 29 per cent saturation respectively.

The team is also reviewing the banknote fitness standards and have engaged some of you for feedback. The standards specify the acceptable level of wear and tear on a banknote. Banks and armoured car companies use the standards to determine when banknotes are unfit and should be removed from circulation. We thank you for your assistance in gathering this feedback, which will help us improve the quality of banknotes in circulation.

Stacked sheets with new $50 banknotes.

Education and training materials

A quick reminder that the education and training materials for the new $50 are available via the Industry Engagement Hub. Materials include the security feature flyer, campaign video and feature animations. Should you have issues accessing these items or wish to receive the material directly please contact us.

We are developing a new security feature training video. Focusing on the new $50, we plan to have this video available to assist staff training and education before the new $50 enters general circulation.

We are also developing some animations which may be of interest for engaging and educating your staff and customers. Watch this space!

Test material

New $50 adaptation banknotes are still available for machine manufacturers to calibrate their equipment. If you are interested in obtaining test material please contact the Industry Engagement Team.

For banknote equipment users, we expect new $50 assurance banknotes to be available for your testing early August 2018. The test material will help you confirm upgrades from your manufacturer to prepare your machines for the new $50 entering circulation.

We want to make sure that you have every opportunity to ensure your machines can handle the new banknote series. If you have any questions or wish to discuss other ways in which we might be able to help, don't hesitate to contact our friendly Industry Engagement Team.

New $50 design revealed and Training Materials –

Next milestone

The RBA has revealed the design of the new $50 banknote to the public. As with the new $5 and $10 banknotes the design of the new $50 is revealed to help the public and cash-handling industry familiarise themselves with the design well before it enters general circulation in October this year.

Education and training materials

In addition to revealing the design, some of the education and training materials for the new $50 are now available. Materials include the security feature flyer, campaign video and feature animations. The flyer and video will be available via the Industry Engagement Hub. Please contact us if have any issues accessing the materials or wish to obtain the individual animations.

Test material

You will recall new $20 transportation notes and new $50 adaptation banknotes were made available for BEMs to borrow in November last year. Manufacturers may be interested to note they are able to request additional $50 adaptation banknotes at any time during our production run, via your loan agreement. Accessing banknotes from different stages of the production run can assist with variability testing. If you are interested in obtaining test material please contact the Industry Engagement Team.

Banknote equipment users should note we expect new $50 assurance banknotes to be available early August 2018.

New $50 Banknote revealed.

2017

Season's Greetings

The RBA Industry Engagement Team would like to thank you all for your continued efforts to ensure a smooth issuance of the new banknote series. The past 12 months have seen the new $10 enter circulation and the new $50 production run commence.

You may notice the new look Industry Engagement Hub. The new elements of the landing page provide a snapshot of how the new banknote program is progressing. The detailed information and figures are still available in their relevant sections but now there's a quick reference guide for all.

We're looking forward to 'painting the town gold' next year with the issuance of the new $50 on track for late 2018.

Please note there will be no test banknote collections between 25 December and 8 January due to the team's holiday plans.

We'll be back in February with an update on design reveal and some of our evaluative research findings. Wishing you all the best for the coming year.

Test material for BEMs -

Test material for BEMs

We can now confirm the new $50 adaptation banknotes and new $20 transportation notes will be available for banknote equipment manufacturers from 27 November 2017.

Equipment manufacturers should have received the Notice of Loan documentation. Returning the documentation promptly will help us plan the distribution of the test material and ensure a smooth execution during a busy time of year.

Industry Update –

Test material for equipment manufacturers

The new $50 adaptation banknotes and $20 transportation notes will be available for banknote equipment manufacturers imminently.

We will soon send your Notice of Loan documentation. Please return it as soon as possible. Please note as with previous test material these notes will only be available in multiples of 20 and 500 banknotes. Returning your documentation promptly will help us plan the distribution of the test material and ensure a smooth execution during a busy time of year.

It is also a good opportunity to check that your agreements with us are up to date. Please inform us if there have been any changes within your organisation which effect your Banknote Loan Agreement or Mutual Confidentiality Deed such as a change in company details or authorised persons.

Any questions, please don't hesitate to contact the Industry Engagement Team on 1800 633 220 or IndustryEngagement@rba.gov.au .

We anticipate new $50 assurance banknotes for banknote equipment users to be available early August 2018.

Education and training

The new $10 security feature video has received more than 36,000 views. We'd love to hear what you think of the video - How are you using it? What works well? What's missing? Don't hesitate to call or email us your feedback.

New $10 hits the streets

20 September saw the new $10 enter general circulation. By all accounts this was highly successful with positive media coverage and keen interest from the public to be among the first to pick up a new $10.

There were a couple of reports about machine acceptance, which did not raise any concern.

It was great to see some of you promoting the new $10 on your social networks too.

Governor Phil Lowe hands one of the first new ten dollar notes to a fruit and vegetable merchant.

Governor Phil Lowe spent the first new $10.

New $10 training video available –

New $10 assurance banknotes

The new $10 security feature training video is now available for you to use in your staff training programs. The video describes how to check the new security features and what to do if you find a suspect banknote. We are keen to hear how useful this type of video is for training your staff, particularly in preparation for the new $50 banknote scheduled for issuance next year.

If you would like a copy of this video please contact us on IndustryEngagement@rba.gov.au or 1800 633 220.

Video still showing a woman with a banknote in hand smiling to the camera.

New $10 assurance banknotes and other news –

New $10 assurance banknotes

The new $10 assurance banknotes will be available at face value for machine users from 26 July 2017. The process to access these banknotes is outlined below. These assurance banknotes will enable you to test and validate the solutions deployed for your machines to process the new $10 banknotes.

In order to access assurance notes, machine users will have to complete a Banknote Access Agreement.

Step 1: Express your interest to obtain assurance banknotes by emailing IndustryEngagement@rba.gov.au. You will need to include:

  • Legal company name and its Australian Business Number, Australian Registered Body Number or Australian Company Number
  • Registered Office or Head Office address
  • Name of person(s) for correspondence and responsibility of activity
  • Address, facsimile number and email address of person(s).

Step 2: The Reserve Bank will provide an Agreement for you to sign and return to us, including details about the quantity of banknotes required, the secure courier you will be using and from where you wish to collect the banknotes (Sydney or Craigieburn).

Step 3: Once the Agreement is signed by both parties and payment for the assurance banknotes is received the Reserve Bank will confirm the allocated date and time for collection.

Please note that any assurance banknotes damaged through testing need to be returned in accordance with the Reserve Bank's Damaged Banknote Policy. The Agreement specifies limitations on the use of the assurance banknotes prior to them entering general circulation in September. Once the new $10 banknote has entered general circulation you will be able to use the assurance notes in the same way as for banknotes in general circulation.

If you would like to access test notes or have any further questions please do not hesitate in contacting us at IndustryEngagement@rba.gov.au or 1800 633 220.

Other news

We have the new $10 video and infographic available for you to use in your internal and external training and communication. If you would like a copy of these items please contact us on IndustryEngagement@rba.gov.au or 1800 633 220.

A security feature training video is also in production and will be available prior to the new $10 entering general circulation.

Test notes and other news –

Test note news

As we indicated in our last industry update, new $10 adaptation banknotes are now available. To access these banknotes, Banknote Equipment Manufacturers (BEMs) who have not already done so should complete and return your "notice of loan" documents. If you have already submitted your paperwork we will be in touch soon to make specific arrangements.

We are on track to have the new $10 assurance banknotes available in August 2017, around eight weeks prior to issuance. Banknote equipment users will be able to obtain these production banknotes at face value. Terms and conditions and any other legal requirements are being finalised with more details to be communicated to you soon.

Reminder: BEMs need to have a valid Banknote Access Deed in order to demonstrate your solutions for your customers (banknote equipment users). Those of you who already have a Banknote Access Deed, which you used to demonstrate your solutions for the new $5, are covered for all subsequent denominations.

The new $50 transportation notes will be available from mid-June 2017. These notes will allow BEMs to develop and implement transportation updates resulting from the architecture of the new banknotes. These notes do not represent final production notes.

If you would like to access test notes or have any further questions please do not hesitate in contacting us at IndustryEngagement@rba.gov.au or 1800 633 220.

Other news

The new $10 banknote will enter circulation late September 2017.

In our last Industry Update we provided data about how many new $5 banknotes had been issued. This data is being updated monthly on the Industry Engagement Hub.

NGB5 Issued Month-ended, cumulative
Date Volume (millions) Date Volume (millions)
2016 September 32 2017 March 69
October 32 April 77
November 39
December 47
2017 January 52
February 62

New five dollar Banknote in Circulation

To better manage our contact databases and correspondence including these Industry Updates we will be using a contact management tool. Details about how we will handle your personal information will be communicated shortly.

Test notes and New $5 Banknotes in Circulation –

Test Notes

In December we indicated Adaptation test notes for the new $10 would be available for banknote equipment manufacturers (BEMs) to borrow in March 2017. We can now confirm Adaptation notes will be available from 29 March. To access these banknotes, BEMs who have not already done so should complete and return your ‘notice of loan’ documents, to ensure you are in a position to receive the banknotes as soon as they are available. If you have already submitted your paperwork we will be in touch soon to make specific arrangements. Further details about arrangements for machine users to access Assurance banknotes will be provided in due course.

New $5 Banknotes in Circulation

A number of you have asked for an update on how many new $5 banknotes have been issued. At the end of February 2017, there were 62 million new $5 banknotes in circulation. This equates to around 29 per cent of all $5 banknotes in circulation.

New $5 Banknotes Issued Month-ended, cumulative
Date Volume
(millions)
Sep-16 32
Oct-16 32
Nov-16 39
Dec-16 47
Jan-17 52
Feb-17 62

New five dollar Banknote in Circulation

It is relevant to note that the proportion of new $5 banknotes in circulation is not necessarily indicative of what will happen with other denominations.

New $10 design revealed and web portal updates –

The Reserve Bank of Australia has revealed images of the new $10 banknote that will be issued into circulation from September 2017. Please note, issuance timing has changed slightly from previous communication. The images show the design artwork of each side of the banknote, including the distinctive top-to-bottom window. The images are being revealed to facilitate preparations for the smooth introduction of the banknotes.

The new $10 banknote contains the same security features as the new $5 banknote that was issued in 2016, though the design of these features is different. The new banknote also features a different species of native Australian wattle and bird; the Bramble Wattle (Acacia victoriae) and Sulphur-crested Cockatoo (Cacatua galerita). Full details of the design and security features on the new $10 banknote are available on our website.

Digital copies of the images, together with other content to assist with communication with and training of staff and customers were emailed to our industry mailing list. Please contact us if you would like to receive these digital copies or hard copies of either the security feature flyer or bookmark. Additional training and education content will be made available closer to the date of issue. Please note, now that the designs have been revealed, these details are no longer confidential. However, any technical information provided to you as part of the Industry Engagement program remains confidential and must not be shared outside your organisation.

Responding to industry feedback, we have rebranded the Machine Readiness Portal to meet the needs of the broader industry and act as a single point of reference. Engagement with the banknote industry is a key aspect of the Next Generation Banknote program and we hope the updated web portal – Industry Engagement Hub – will provide key information for the industry including the ongoing machine-readiness program and availability of test notes, as well as education and training materials.

Do not hesitate to contact us if you have any questions relating to the design release or updated website.

2016

General update on design reveal, issuance, test material and survey –

Design Reveal/Issuance Dates

Production of the new $10 has commenced and we are planning to publicly reveal its design in February 2017. Specific details of the reveal will be provided in due course.

The design of the $10 banknote is being revealed well in advance of issuance to allow more time for training and education, and allow more open sharing of information with stakeholders. We will provide content calendars soon relating to the training and educational material that will be available. In the meantime, please let us know if there are specific types of information you would find useful (both in addition to or instead of the materials provided for the new $5) and we will endeavour to accommodate your requests.

At this stage, we are aiming to issue the new $10 into general circulation around October 2017. Specific details will be provided closer to the time.

Test Material

Feedback from the industry has indicated a need for some machine users to access test notes to confirm equipment solutions on their own networks. As a result, we plan to provide broader access to test material to the banknote industry. The test material falls into three broad categories:

  • Transportation notes – to allow equipment manufacturers to develop and implement any transportation updates resulting from the architecture of the new banknotes. Please note: These notes do not represent final production notes.
  • Adaptation banknotes – to allow equipment manufacturers to develop models to recognise, process and authenticate the new banknotes.
  • Assurance banknotes – to allow users of equipment to test and validate the solutions deployed.

The below table outlines which test material will be made available to stakeholders and the associated intended timing.

Availability of test notes
Denomination Purpose Type of test notes Intended timing BEMs Equipment users
$10 Transportation Trial notes May 2016
Adaptation Production banknotes March 2017
Assurance Production banknotes August 2017
$50 Transportation Trial notes April 2017

Please note: the timing is subject to change if required due to production timetables.

Details around the timing for availability of the new $50 adaptation and assurance banknotes will be provided when available based on production timelines. We will continue to aim to make adaptation banknotes available to equipment manufacturers at least six months prior to issuance, and assurance banknotes to machine users at least two months prior to issuance.

Agreements

The new $10 adaptation banknotes will be offered to equipment manufacturers under the existing loan agreements. Related to this, notices of loan will be provided to the relevant parties. It is likely that the new $50 transportation notes will also be made available under this agreement. The method by which assurance banknotes will be offered to machine users is to be determined and advice will be provided in due course.

Post-Implementation Survey

At this time, we are asking equipment manufacturers to complete a survey as part of a post-implementation review. The purpose of the survey is to obtain feedback on the assistance provided by the Reserve Bank to prepare for the issuance of the new $5. Advice to assist in the planning for future denominations is also sought. The survey will be sent to the relevant parties and can be downloaded here for information.

Future Communication

To improve the way in which we communicate with the broader banknote industry, the Reserve Bank is centralising all industry engagement around the new banknotes, including both the Machine Readiness program and the provision of training and education material. As such, all non-technical information will be provided to the industry as a whole, at the same time. Further, all of the information provided in this email, and future updates, will be included on this portal. While we will provide email alerts regarding any new information, we suggest you check the portal regularly to ensure you are kept up to date.

Next Generation $5 Banknote Enters Circulation –

Next Generation $5 Banknote Enters Circulation

Next Generation of Banknotes: $5 Banknote Design Reveal –

Next Generation of Banknotes: $5 Banknote Design Reveal

Next Generation of Banknotes: Plans for the $5 Design Reveal –

Next Generation of Banknotes: Plans for the $5 Design Reveal

Next Generation of Banknotes: Issuance Date for the New $5 Banknote –

Next Generation of Banknotes: Issuance Date for the New $5 Banknote

2015

2014