Latest News

Update – access to cash, the counterfeiting landscape; and more

Stakeholder engagement refresh

We are very pleased to announce that we have commenced a work program to refresh the ways in which we interact with our stakeholders! The first stage of this work will involve interviewing stakeholders to gather feedback from a range of people and organisations. We are looking to constantly improve and prioritise our engagement with stakeholders, and hearing directly on what has or hasn’t worked for them, and what they might like to see moving forwards is an important part of the development of this work.

If you would like more information, or would like to be involved, please contact our Industry Engagement team.

Australia's counterfeiting landscape

Until the release of the Next Generation Banknote series, counterfeiting had been rising steadily in Australia. The increasing number of counterfeits was accompanied by an increase in the overall sophistication of the counterfeit banknotes being detected. These increases in both quality and quantity highlighted the need for improved security in the new banknote series.

To date less than 50 counterfeits of the Next Generation Banknotes have been detected in circulation, and all of these counterfeits have been low quality with at least one overt feature not simulated.

Further information on Australia’s counterfeiting landscape can be found in Box A of the Review of the NGB Upgrade Program.

New opportunities for banknote testing and research

While the Next Generation Banknote program has now come to a close, we are continuing to work with industry on projects including research trials and counterfeit testing. To make this as simple and easy as possible we have a new single legal agreement, the Banknote Materials Agreement.

We already have organisations signed on to work with us on cutting edge research and testing in the future and we are excited to have these people on board for what is set to be an interesting period ahead in the cash handling industry.

If you are interested in accessing banknote test materials or participating in research trials, please reach out to our Industry Engagement team.

Next Generation Banknote program review

Following the conclusion of the Next Generation Banknote program, we have published a review of what was a highly complex, long-running and ultimately very successful program. The NGB program delivered a suite of new Australian banknotes with a range of new innovative security features. Overall the banknotes have been well received by the general public and counterfeiting rates have remained low.

The Bank identified a number of aspects of the NGB program that proved to be particularly important in ensuring its overall success, including the value of expert advice, public engagement and industry involvement.

We would like to again thank everyone who played a role in making the NGB program the success that it was.

You can read the full review online – Review of the NGB Upgrade Program.

First polymer series	Second polymer series

How far do Australians need to travel to access cash?

The Bank has recently published some analysis on the distance Australians need to travel to access cash. We found that approximately 95 per cent of people live within 5 km of a cash access point, which is broadly unchanged since 2017. However, there are people living in parts of regional and remote Australia who do have to travel longer distances to access cash, and there is often only one available cash access point. That means that access to cash in these areas is more vulnerable to any future removal of cash services.

Sources: ABS; APRA; Australian Banking Association; Banktech; ggmap; Google; Next Payments; Linfox Armaguard; Prosegur; RBA

Ongoing declines in cash use and cash withdrawals are putting pressure on the economics of the cash system, which may prompt further rationalisation of ATM and bank branch networks in the future. The Bank will continue to closely monitor the latest trends in cash access and use in Australia.

You can read the full article here – How Far Do Australians Need to Travel to Access Cash?

Update – trends in cash demand during the pandemic

Cash demand during COVID-19

The Bank has recently published some highly topical research on trends in cash demand during the COVID-19 pandemic. Some of the results are not quite what you might have expected! The key findings are:

• Since the onset of COVID-19, the value of banknotes in circulation has risen sharply. This has occurred despite cash being used much less for everyday transactions.
• Much of the strong demand for banknotes can be attributed to people’s desire to hold cash for precautionary or store-of-wealth purposes.
• This behaviour is common during periods of economic uncertainty, and many other countries saw similar patterns of cash demand.

You can read the full article online – Cash Demand during COVID-19 (March 2021).

Recent trends in counterfeiting

We'd also like to share with you the latest data on counterfeiting activity in Australia. The figures show that rates of counterfeiting remain low in Australia and have continued to decline in recent years. Interestingly, while overall rates of counterfeiting have fallen, in 2020 there was a rise in counterfeiting of the $100 denomination. In fact, we estimate that the $100 accounted for about 60 per cent of all counterfeits detected in 2020, which marks the first time in the last decade that the $100 has been the most counterfeited denomination over a full year. To date very few counterfeits of the NGB series have been detected in circulation and all of these counterfeits have been low quality.

If you are interested in finding out more about recent counterfeiting trends in Australia, check out the statistics section of the RBA website where we have just released updated figures on the detection of counterfeits in Australia by denomination.

New legal agreement for banknote testing

While the Next Generation Banknote program has now come to a close, we’d like to keep working with you on future projects such as research trials and counterfeit testing. To make this as simple and easy as possible, banknote equipment manufacturers and users can now access banknote test materials under a new single legal agreement, the Banknote Materials Agreement.

If you are interested in working with us in the future and haven’t already signed up to the new agreement, please reach out to our Industry Engagement team for more information.

Website refresh

We have just launched our refreshed Banknotes website – this website now hosts most of the information that was previously available on the Industry Engagement Hub (and a lot more!). Check it out here!

Update – it's a wrap!

What a year it has been! Here's hoping 2021 is a little calmer, healthier and dare we say uneventful.

NGB Project comes to a close

The Bank's relationship with the cash-handling industry has been an important component of the Next Generation Banknote Program. It has been more than a decade in the making and we couldn't have done it without you! Thank you one and all for your contribution in the development of Australia's secure, durable and high quality banknotes.

‘The launch of the new $100 marks the completion of the first upgrade to Australia's banknotes in more than 20 years – a major milestone and an astounding achievement. So many have contributed to this project, it is impossible to thank them all.’ Melissa Hope, Head of Note Issue.

Of course the business of banknotes never stops and we’re looking forward to the next exciting banknote-related development.

Recent data and research

Thank you also to all those who have responded to our recent surveys. It is always good to receive feedback from you. We were particularly pleased to hear you would like to stay in touch with us, especially when it comes to counterfeits, new banknote or technology developments, related trends and data.

To that end you might be interested in some recent articles from the Bank:

• Results from the Bank's 2019 Consumer Payments Survey suggest the use of cash for transactions has continued to fall alongside growing use of electronic payment methods. Despite this, a substantial share of consumers still use cash intensively. Results indicate around one-quarter of consumers would face major inconvenience or genuine hardship if they could no longer use cash. Cash Use in Australia: Results from the 2019 Consumer Payments Survey (18 Jun 2020)
• In 2019, counterfeiters responsible for the production of a group of high quality $50 and $100 counterfeit banknotes were sentenced. From first detection this counterfeit episode was resolved reasonably quickly, a result of effective collaboration between the Bank, federal and state police and legal authorities. A Counterfeit Story: Operation Gridline (10 Dec 2020)

The latest NGB saturation data is looking good.

The data shows net values as at end of November 2020. Percentages show new banknotes as a proportion of the total number (net million pieces) of banknotes of that denomination in circulation. Further details about banknote circulation is also available on the RBA website.

And below is a sneak peek at some data for an upcoming paper about cash use during the pandemic, the graph shows the value of cash withdrawals since September 2019 by payment method.

We are finalising plans for future engagement so keep an eye out for the next Industry Update in 2021.

New $100 banknote enters circulation

The new $100 banknote enters general circulation today. It is the final denomination to be redesigned as part of the Reserve Bank's Next Generation Banknote Program.

Governor Philip Lowe said, ‘The release of the new $100 marks the completion of the decade-long program to upgrade the security of our banknotes. As a result, Australia continues to have some of the best and most secure banknotes in the world. We also continue to celebrate the outstanding contributions of two well-known Australians, Sir John Monash and Dame Nellie Melba, on the new $100.’

On the new $100, a number of dynamic security elements are integrated with the top-to-bottom window, including a reversing ‘100’ in the Shrine of Remembrance, which Monash was instrumental in building. There is also a three-dimensional fan with colourful lines, representing Melba's career as a performer.

Education materials, including security feature flyers in multiple languages, are available on the banknotes website.

Assistant Governor Lindsay Boulton commented, ‘We anticipate it will take some time for people to regularly see the new $100 banknote in circulation as our largest-denomination banknote is generally used as a store of wealth rather than for transactions. It is also important for people to know that the existing $100 banknotes can continue to be used and we expect both series of banknotes to co-circulate for some time. In fact, all our banknotes, including paper banknotes issued many years ago, remain legal tender in Australia.’

As with the other recently released banknotes, the new $100 has a ‘tactile’ feature to assist people who are blind or who have low vision to distinguish between different denominations. There are five raised bumps on each of the long edges of the $100 banknote.

Standard uncirculated banknotes are available at face value over-the-counter at our Sydney Head Office (65 Martin Place) and Canberra branch (20-22 London Circuit) Banking Chambers. Prior arrangements should be made to purchase the new banknotes at our Sydney office. Details can be viewed on the banknotes website.

A huge thank you to all the banknote equipment manufacturers, retailers and other cash-handling businesses we've worked with to prepare ATMs and other banknote authenticating machines to accept and process the new $100 banknote.

Circulation date of the new $100

As announced publicly today, the new $100 banknote will be released into general circulation from 29 October 2020. This is the final banknote to be released as part of the Next Generation Banknote program.

The new $100 banknotes have been in production since mid-2019 and will soon be distributed ahead of their release into general circulation. As with any new banknote it will take time for them to be widely available. Existing $100 banknotes can continue to be used, as all previously issued banknotes remain legal tender.

The new $100 Banknote Security Feature Flyer highlights the key security features of the new banknotes and can be found on the Bank's website. Education and training materials for the entire series are available including a security feature training video to help you educate your staff and customers about the new series of banknotes.

Reminder: $100 test notes still available

With the circulation date scheduled for 29 October this year, equipment manufacturers and machine users (including retailers, banks and other customers) are reminded that test banknotes are still available to order for testing purposes.

Test banknotes are available from both print runs – the first release of banknotes with the previous signature block and the second, larger production run with more production variation with a different signature block. Banknotes from both production runs will go into circulation.

Test banknotes will be despatched from our National Banknote Site in Craigieburn, Victoria. We are taking precautions and following guidelines as per COVID-19 restrictions. If you have any questions about the transportation of banknotes, please ask your secure courier.

If you would like to order these banknotes, please contact our Industry Engagement Team.

Return of test banknotes

All banknote loans of test material will expire on 30 November 2020. The Industry Engagement team will shortly be contacting stakeholders about this. Please contact Industry Engagement Team if you have any questions about this process.

Feedback on industry readiness

We are interested in any information you can share with us about your progress with preparations to upgrade machines for the new $100. Please send any observations or updates to our Industry Engagement Team.

Previous Industry Updates are available on the Industry Engagement Hub .

New $100 assurance banknotes are now available for machine users (such as retailers, banks and other customers) to test the readiness of their equipment prior to the general circulation date later this year. These are final production banknotes that will enable you to test and validate the solutions deployed by your manufacturer for your machines to process the new $100 banknotes. They will be despatched from our National Banknote Site in Craigieburn, Victoria.

Banknotes are available from both the first print run in 2019, and the most recent production run which has the different signature block and more production variation. Banknotes from both production runs will go into circulation later this year.

Machine users should confirm with their banknote equipment manufacturer that their equipment has been upgraded before testing with the new banknotes.

Order Process for Assurance Banknotes

If you are a machine user and have a signed Banknote Access Agreement with us, you will shortly receive a separate email with instructions for placing orders. If you have not received this email, or would like more information about joining our program, please contact our Industry Engagement Team.

Other Banknotes

The following material is still available for banknote equipment manufacturers:

• New $100 banknotes from both the 2019 and 2020 production runs (with different signature blocks) available in lots of 20, 500 and 1,000 (with non-consecutive serial numbers)
• New $100 production banknotes in shrink-wrapped bundles (‘bricks’) with consecutive serial numbers.

The new $100 banknote is still expected to be released into circulation towards the end of the year. We are continuing to print the new $100 and will shortly make it available for testing purposes.

Our current schedule is:

• Now – We are taking orders from machine manufacturers of test $100 banknotes from the second production run. These banknotes have a different signature block than the banknotes released in November 2019 and more production variation.
• Early June 2020 – Distribute test banknote orders to machine manufacturers.
• Mid 2020 – Release assurance banknotes to the banks and machine owners for testing purposes.
• Late 2020 – Release the new $100 into circulation.

These dates are indicative and we will advise you if there are significant changes or if we have further updates.

If you are a banknote equipment manufacturer, you should have received an email regarding test banknote orders for the second print run of the new $100 banknote. If you have not received this information, or would like to place an order, please contact Industry Engagement Team.

We are also interested in any information you can share with us about whether the COVID-19 situation is impacting your preparations to upgrade machines to for the new $100. Please send any observations or updates to Industry Engagement Team.

We're excited to announce that the Governor of the Reserve Bank today officially revealed the design of the last banknote in the Next Generation Banknote series, the new $100, which will be released into circulation later this year. Further information about the new $100 banknotes, including design and security features, can be found in our media release.

If you have ordered any of the production notes for testing, you will be familiar with the look of the $100 already, but now you are now free to publicly share the details of the design with your own staff and other stakeholders.

You can explore the security and design features – including animations of the dynamic features – more closely here. You can also download the security features flyer – if you would like any hard copies please contact our Industry Engagement Team.

TEST MATERIAL

New $100 production banknotes are still available for machine manufacturers to calibrate their equipment. The first round of new $100 production banknotes were made available from 29 November 2019, and we will release a second set as soon as possible, and are currently expecting this to occur in mid-2020. The second set will be from a larger production run which will include typical production variation. They will also include banknotes with a different signature block, due to changes in the Secretary to the Treasury position.

We will advise the industry via our newsletter once we have confirmed the final dates for release of these additional test banknotes.

If you would like to order test materials or 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 Industry Engagement Team.

SATURATION FIGURES

Here's a quick update on the saturation rates of the NGB banknotes as of 31 January:

NEW $100 TEST MATERIAL FOR BANKNOTE EQUIPMENT MANUFACTURERS

New $100 production banknotes are now available from the Reserve Bank of Australia for calibration purposes for banknote equipment manufacturers. These banknotes are part of the first print run that will be issued into circulation in late 2020.

$100 banknotes from another print run will be made available for testing purposes in mid-2020. They will be from a larger print run with more production variation, and have a different signature block and year of print. Further information about the new $100 banknotes for machine users, including retailers and commercial banks, will be made available around the same time.

Further, the design of the new $100 banknote will be revealed to the public early next year. We will keep you updated on the design reveal details closer to the date.

If you are a banknote equipment manufacturer and have a signed Banknote Loan Agreement with us, you will have received a separate email with instructions for placing orders. If you have not received this email, or would like more information about joining our program, please contact our Industry Engagement Team.

NEW $100 TEST MATERIAL FOR BANKNOTE EQUIPMENT MANUFACTURERS

New $100 production banknotes are expected to be available from late November 2019 for calibration purposes for banknote equipment manufacturers. These banknotes are part of the first print run that will be issued into circulation in late 2020.

If you are a banknote equipment manufacturer and have a signed Banknote Loan Agreement with us, you will receive a separate email with instructions for placing orders. If you have not received this email, or would like more information about joining our program, please contact our Industry Engagement Team at IndustryEngagement@rba.gov.au.

$100 banknotes from another print run will be made available for testing purposes in mid-2020. They will be from a larger print run with more production variation, and have a different signature block and year of print. Further information about the new $100 banknotes for machine users, including retailers and commercial banks will be made available around this time.

Circulation Date of the New $20

As advised to the public today, the new $20 banknote will be released into general circulation from 9 October 2019. This follows the release of the new $50 banknote last year.

With just over eight weeks to go, we are continuing to work on education and training materials to help you prepare your staff and stakeholders for the release. The new $20 Banknote Security Feature Flyer highlights the key security features of the new banknotes and can be found on the Bank's website. If you would like these in hard copy, please feel free to contact us and we will arrange to have them sent out to you.

While they will soon be shipped around the country in time for release, as with any new banknote it will take time for them to be widely available. Existing $20 banknotes can continue to be used, as all previously issued banknotes remain legal tender.

Please note that the new $20 banknotes have been printed with two different signature combinations: Lowe/Fraser and Lowe/Gaetjens. The reason for this is that an early print run of the new $20 banknotes commenced while John Fraser still held the position of Secretary to the Treasury. The signature block was changed to reflect Philip Gaetjens' appointment prior to the commencement of the full production run.

Test Banknotes

The following test banknotes are available for order:

• New $20 production banknotes (with both signature blocks) for machine users and banknote equipment manufacturers.
• New $20 production banknotes in shrink-wrapped bundles (‘bricks’) with consecutive serial numbers for machine users and banknote equipment manufacturers.
• New $100 transportation banknotes for banknote equipment manufacturers.

If you would like to borrow these banknotes, or have any questions, please contact IndustryEngagement@rba.gov.au.

New $100 production banknotes will be available later this year for calibration purposes for banknote equipment manufacturers. These banknotes are part of the first print run that will be issued into circulation.

New $20 Assurance Banknotes

New $20 assurance notes are now available to machine users (such as retailers, banks and other customers) to test the readiness of their equipment prior to the general circulation date in October. These are final production banknotes that will enable you to test and validate the solutions deployed by your manufacturer for your machines to process the new $20 banknotes. They will be despatched from our National Banknote Site in Craigieburn, Victoria.

Banknotes are available from the first print run (with the old signature block) that were made available in November 2018, and from the most recent production run which has the change in signature block and production variation more representative of true circulation banknotes. Banknotes will go into circulation in October 2019.

Assurance banknote users should confirm with their banknote equipment manufacturer that their equipment has been upgraded before testing with the new banknotes.

Orders for the new $20 Assurance Banknotes

If you are a machine user and have a signed Banknote Access Agreement with us, you will shortly receive a separate email with instructions for placing orders. If you have not received this email, or would like more information about joining our program, please contact our Industry Engagement Team.

Other Banknotes

The following material is still available for banknote equipment manufacturers:

• New $20 production and new $100 transportation banknotes are still available to order.
• New $20 production banknotes in shrink-wrapped bundles (‘bricks’) with consecutive serial numbers will be available shortly. We will let you know when these banknotes are available.

New $100 production banknotes will be available later this year for calibration purposes for banknote equipment manufacturers. These banknotes are part of the first print run that will be issued into circulation.

New $20

We are now accepting orders from banknote equipment manufacturers for the next round of new $20 banknotes. These notes come from a larger production run and include a change in signature block and more production variation. They are now available for collection from our National Banknote Site in Craigieburn.

We are also still taking orders for the first round of new $20 banknotes (with the previous signature block). This material was first made available to the industry for loan from November 2018.

Banknotes from both of these production runs will go into circulation in October 2019.

Information about the new $20 assurance banknotes for commercial banks, retailers and other machine users will be available closer to issuance.

New $100

New $100 transportation notes are still available to order. Transportation banknotes allow equipment manufacturers to develop and implement any transportation updates resulting from the architecture of the new banknotes. These notes do not represent final production notes.

New $100 banknotes will be available later this year for calibration purposes for banknote equipment manufacturers. These banknotes are part of the first print run that will be issued into circulation.

Orders for the new $20 Banknotes and $100 Transportation Banknotes

If you are a banknote equipment manufacturer and have a signed Banknote Loan Agreement with us, you will receive a separate email with instructions for placing orders. If you have not received this email, or would like more information about joining our program, please contact our Industry Engagement Team.

New $20

The design of the new $20 was revealed in February 2019. Read all about it in our media release.

New $20 banknotes are currently available for machine manufacturers to calibrate their equipment. We provide two rounds of production notes for testing. The first run of notes is available to order now. From June you will be able to order notes from a larger production run which will include more production variation and a new signature block.

New $20 assurance notes will be available to machine users (such as retailers, banks and other customers) to test the readiness of their equipment eight weeks prior to the general circulation date. The circulation date will be in the month of October 2019, with the exact date to be announced later in the year. If you would like to be part of this program, please contact our Industry Engagement Team for details.

New $100

New $100 transportation notes will be available after Easter and we are now processing orders. Transportation banknotes allow equipment manufacturers to develop and implement any transportation updates resulting from the architecture of the new banknotes. These notes do not represent final production notes.

If you are a banknote equipment manufacturer and have a signed Banknote Loan Agreement with us, you should have received a separate email with instructions for placing orders. If have not received this email, please contact our Industry Engagement Team.

New $100 banknotes will be available later this year for calibration purposes for banknote equipment manufacturers. These banknotes are part of the first print run that will be issued into circulation.

We're excited to announce that the Governor of the Reserve Bank today officially revealed the design of the new $20, which will be released into circulation in October this year. Read all about it in our media release.

If you have ordered any of the production notes for testing, you will be familiar with the look of the $20 already, but now you are free to share the details of the design with your own staff and stakeholders.

You can explore the security and design features including animations of the dynamic features more closely HERE. You will also be able to download the security features flyer, or you can order hard copies from us through our Industry Engagement Team.

Test material

New $20 banknotes are still available for machine manufacturers to calibrate their equipment. We provide two lots of production notes for testing. The first run of notes is available to order now. In June you will be able to order notes from a new, much larger production run which will include typical production variations and a new signature block

New $100 transportation notes will be available at Easter, and we'll give you a heads up as soon as you can order them

If you would like to order test materials or 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 Industry Engagement Team.

Saturation figures

Here's a quick update on the penetration of the NGB notes as of February 1:

NGB $5
Volume: 126m
Value: $631m
Saturation: 61%

NGB $10
Volume: 68m
Value: $684
Saturation: 49%

NGB $50
Volume: 46m
Value: 2.3b
Saturation: 6%

This year is all about supporting the industry to be well-prepared for the release of the new $20 banknote.

The first print run of $20 production banknotes was released late last year. If you have a Banknote Loan Agreement and have not yet ordered these, now is the time to do so. A second larger print run of production banknotes, which will include the new signature block, will be available mid-year.

Also available are shrink-wrapped bundles of 1,000 $20 banknotes fresh off the press which can assist with ATM cassette testing. Please email industryengagement@rba.gov.au for an order form.

Looking forward:

• We expect to have $100 transportation notes available for order around Easter.
• The first print run of $100 production banknotes should be available at the end of 2019.
• Issuance of the new $20 is still on track for later in 2019.
• Look out for another update about the public release of the design of the new $20 next month.

We will send updates with exact timings when we have them and if you have any questions or concerns, please don't hesitate to get in touch.

$20 Transportation notes have been available for some time and we can now confirm that new $20 Adaptation banknotes will be available for banknote equipment manufacturers to borrow from 21 November 2018.

Adaptation banknotes are final production banknotes that allow equipment manufacturers to develop models to recognise, process and authenticate the new banknotes. Equipment manufacturers should by now have received the Notice of Loan documentation. Returning the documentation promptly will help us plan the distribution of the test material and ensure smooth execution during a busy time of year.

If you are a banknote equipment manufacturer and you do not have an existing loan agreement, please contact us to make the necessary arrangements.

Please note that these banknotes are only available for equipment manufacturers. Banknotes will be made available to equipment users under our ‘Assurance’ banknote program closer to when the banknotes will enter general circulation. We cannot advise a circulation date at this stage.

Next Generation of Banknotes: $50 Enters General Circulation

Update – Circulation Date of the New $50

New $50s are starting to leave the building to be positioned around the country ready to hit the streets, and from today you can shout from the rooftops that 18 October is the day they will begin to enter circulation. Today we have announced to the public the general circulation date so you are now free to share the date with your staff and customers.

With just over six weeks to go, we are continuing to work on education and training materials to help you prepare your staff and stakeholders for the release. We now have a Quick Reference Counterfeit Detection Guide, which highlights key security features of both polymer series and can be found on the Industry Engagement Hub. We also had a lot of excellent feedback from the new $10 training video and are currently working on something similar for the new $50, as well as some additional flyers. In the meantime, check out our new banknote lifecycle video that was added to our website recently.

'Like' Us on Facebook

Last month, the Reserve Bank launched its Facebook page. The page will feature updates from different areas of the Bank. In particular, Note Issue will have the opportunity to publicise new banknotes and banknote security features. To keep in touch with our posts, please like and follow our Facebook page – Reserve Bank of Australia – RBA – or, better yet, share our posts on your own social networks.

NGB $50 Adaptation 2 and Assurance Banknotes

In June, we offered banknote equipment manufacturers access to additional banknotes from the latest part of our NGB $50 print run. These banknotes have a greater range of print variation than that exhibited by those previously provided (in November 2017). The banknotes are referred to as ‘Adaptation 2’ banknotes. If you haven’t already, we recommend that you obtain Adaptation 2 banknotes to assist you in preparing your equipment ahead of the release of the new $50 on 18 October 2018.

If you are a banknote equipment manufacturer and have an existing loan agreement with the Reserve Bank, you can access these banknotes immediately under the agreement by sending a request to IndustryEngagement@rba.gov.au with a request for ‘Adaptation 2’ banknotes. If you do not have an existing loan agreement, please contact us to make the necessary arrangements.

For equipment users, the ‘Adaptation 2’ banknotes are sampled from the same part of the print run as ‘Assurance’ banknotes, which were made available from 23 August. These banknotes will enable you to test and validate the solutions deployed by your manufacturer for your machines to process the new $50 banknotes. Please contact us at IndustryEngagement@rba.gov.au with a request for ‘Assurance’ banknotes for more information.

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.

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.

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 [an error occurred while processing this directive] .

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.

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.

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

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.

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 spent the first new $10.

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.

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 $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