Video Transcript
To keep Australian banknotes among the safest in the world, the Reserve Bank has issued a new series, like this new $50 banknote.
They have many innovative security features you can use to check if the banknote is real. Counterfeits have no value, so it’s important to know what a real banknote looks like.
All Australian banknotes are printed on plastic, and one of the first features people notice is the unique top-to-bottom window. It contains several security features, including a flying bird. Tilt the banknote and you will see the Black Swan move its wings.
Now look at the building at the bottom of the window. Inside the building you will see a number 50 that changes direction.
Turn the banknote over and in the top corner you’ll see a patch that changes colour in a rolling effect. Notice how the bar of colour moves up and down as you tilt the banknote. And you can see the same effect inside a bird shape on the other side.
If you look closely you’ll discover ever more detail, like tiny text and finely detailed patterns.
These same security features can be found on all new banknotes.
The first series of plastic banknotes can continue to be used and will keep circulating for a while. So it’s important to know their security features as well. Here’s a reminder of some quick ways to check whether they are real.
Look for a small circle with diamond-shaped patterns. If you hold the banknote up to the light, the diamond shapes should align perfectly to form a seven-pointed star inside the circle.
While you still have the banknote held to the light, you should also be able to see the Australia Coat of Arms under the print.
One of my favourite features is used on both series, and to show you we’ll need to turn out the lights. Put the banknotes under UV light and their serial numbers will glow. And on the new banknotes a bird, wattle and the year of print are revealed.
There are more security features but with these key features you should be able to quickly and easily identify genuine banknotes.
If you suspect a banknote to be counterfeit, you have the right to refuse to accept it. But if you do come across a suspect banknote handle it as little as possible and place it in an envelope. The police may need it as evidence.
Also record as much relevant information as you can, such as where, when and how it came into your possession. You should then take it to State or Federal police as soon as possible, as it is an offence to knowingly possess counterfeit banknotes.
Remember, you won't be reimbursed. A counterfeit has no value. Knowing how to check the security features is the best way to protect yourself.
You can find out more by visiting banknotes.rba.gov.au.