The ECB and the central banks of the euro area countries (Eurosystem) will start introducing the new €50 banknote in April 2017. They will work closely with all interested parties so that they have sufficient time to test and adapt their machines.

What steps are being taken by the European Central Bank and the national central banks to prepare for the arrival of the new €50?

− The new note is being made available to banknote equipment manufacturers, suppliers and owners of machines and authentication devices at the euro area national central banks for testing and adapting of their machines. After the unveiling on 5 July 2016 the new €50 will also be available for testing and adapting outside the central banks.

− A regularly updated list of banknote authentication devices and banknote handling machines tested by the Eurosystem central banks for compatibility with the new banknotes is available here.

− Seminars covering the details of the issuance will be held across the euro area countries. The most recent one was held at the Banco de España in Madrid in June 2016.

− A Partnership Programme provides banknote equipment manufacturers and suppliers, professional organisations and associations as well as their clients and users with a range of communication tools and materials to promote the new banknotes. This programme allows partners to receive information in good time and to communicate easily and efficiently with their stakeholders.

Source: http://www.new-euro-banknotes.eu/Direct-Access/Partners/UPDATING-MACHINES-FOR-THE-NEW-€50

Written by