The Bank of England has updated its advice for retailers on spotting counterfeit notes ahead of the introduction of the new King Charles banknotes next month.
The new advice from the Bank of England provides training materials that retailers can use to learn best practice for checking banknotes, including the new King Charles III banknotes. The advice highlights what to do if a counterfeit note is received, in addition to guidance dependent on whether the customer has left and how threatening they might be.
The latest banknotes with the new King Charles III designs are due to enter circulation on 5 June 2024. All new notes have the same visual security features as existing Queen Elizabeth II notes, so should be checked the same way.
When checking for counterfeit notes, it is advised to avoid using LED (Light Emitting Diode) devices as they emit light above 365 nanometres. Detector pens are also not as effective, as they aren’t able to spot counterfeits on polymer prints. UV Lamps can also be used, as they are ideal for checking the fluorescent features on notes. Alternatively, some machines are able to test banknotes, but it is vital that their software is up to date to spot the latest counterfeit notes. The machine-testing framework on the advice page will allow you to test your machines to ensure that only real banknotes are being accepted.
Retailers can access further training materials on the Bank of England website, as well as printable posters and booklets to be placed in stores and handed out to staff.
For more information, visit Advice for retailers and businesses | Bank of England
