On 20 September 2017, the Reserve Bank of Australia (RBA) released the second banknote in the Next Generation Banknote (NGB) program. We are pleased to be coordinating industry efforts to transition from old notes, released nearly 20 years ago, to the next generation notes – offering the latest in anti-counterfeiting technology.
Security features made possible through innovation
The new $10 banknote contains the same security features as the new $5 banknote that was issued by the RBA on 1 September 2016. The innovative security features helping to keep the new banknotes secure from counterfeiting include:
- A top-to-bottom clear window
- A patch with a rolling colour effect visible on both sides of the banknote
- A fluorescent ink feature visible under UV light
An important new design element is the tactile feature to assist the vision impaired – common throughout the NGB program.
AusPayNet is supporting the RBA
To ensure the new notes integrate smoothly into our daily use, we continue to coordinate payments industry efforts in:
- Coordinating equipment updates for handling the new notes
- Identifying milestones for the payments industry to work towards and minimise the impact during the introduction of each denomination
Any machines that dispense, accept, count and sort banknotes will require some form of an update to accept and recognise the new banknotes. The RBA will continue to offer banknote samples of each denomination to equipment manufacturers before it is issued further enabling industry machine-readiness.
Distribution of the remaining new notes in the series will continue at a staggered interval spanning a number of years. The current banknotes will retain their legal tender status and will be withdrawn gradually from circulation.
Next up for release in the NGB program is the $50 note – scheduled for late 2018. The $20 and $100 banknote denominations will follow in subsequent years.