Volumatic reminds businesses to prepare for the new King Charles notes

22 May 2024

After the announcement from the Bank of England earlier this year that the new UK banknotes featuring King Charles III would be entering circulation early this Summer, cash handling experts Volumatic are reminding all businesses who handle cash of the steps they need to take in the coming weeks to be able to accept the new notes and avoid any potential problems.

The new notes enter circulation on Wednesday 5th June 2024, meaning that updates may be required for those businesses that operate money counting machines, forgery detectors, self-service checkout machines, money sorters and any other cash handling devices, and with just weeks to go until the new notes arrive, Volumatic is keen to remind businesses that action is required – and that they are here to help.

In early February, Volumatic hosted a webinar called Are you ready for the NEW King Charles notes?, which featured a guest speaker from the Bank of England, to inform and educate businesses on the introduction of the new King Charles III notes. This webinar also provided an opportunity for Volumatic customers to ask key questions about if and how the new banknotes would affect their cash handling solutions – and Volumatic are once again sharing this webinar in order to help businesses.

Attended by representatives from many leading UK businesses across a multitude of industries, including some of Volumatic’s biggest customers and partners, including Tesco, NatWest, Dobbies, JCM Global, The Kay Group, Matalan and Genting Casino, the webinar shared the following key points:

  • That all denominations of the new notes (£5, £10, £20 and £50) will enter circulation on the same day – now confirmed as 5th June 2024
  • That volumes of the new notes will be issued gradually from this date – unlike the recent polymer notes launches
  • That the current banknotes featuring Her Late Majesty Queen Elizabeth II will continue to be legal tender
  • That any cash handling machines (money counters, money sorters, ATMs, self-service checkouts, cash recyclers, bill validators etc.) that any UK businesses currently use must be updated by the issuance date of the new notes to ensure they recognise and can authenticate the new notes

If you are a Volumatic customer, you should have already received an email with specific instructions on how to update your devices. Simple software updates are only required for those customers who use our CounterCache intelligent (CCi) solution, our FC75 or FC300 friction note counters, or our BV30 SD forgery detector. Other Volumatic customers with any of our money counting scales – our CountEasy range will not need to take action because the new banknotes and coins will be minted with the same weights as they are currently.

Volumatic MD James Harris is keen to support customers and businesses generally in being prepared for the new banknotes, stating: “As leaders in the world of cash handling we knew lots of questions were being asked about the new King Charles banknotes and how important it was to address any questions or concerns regarding this with businesses across the UK prior to the notes entering circulation.”
 

“We were delighted that the Bank of England agreed to join us for our webinar, and we know from the feedback we have received in the months since that this webinar acted as a timely factual information platform for all businesses regarding the new notes, and we know that everyone who attended found it useful and informative.”

He added: “We’re sharing our webinar video again now to serve as a reminder to any business that hasn’t yet taken the necessary steps that they need to take action as soon as possible to stay up-to-date and ensure the new notes don’t cause them any headaches.”

You can watch the webinar here: https://volumatic.com/

 

If you are a Volumatic customer wanting more information on updating your device software, please call our Customer Support team on 02476 584 355 or email: helpdesk@volumatic.com                

For more information on the new banknotes from the Bank of England, please visit:

www.bankofengland.co.uk/banknotes/retailers-and-businesses

Discuss your requirements with us today