The Association of Convenience Stores (ACS) has issued a warning to retailers regarding the introduction of new banknotes and the necessary actions to accommodate them. These new notes, featuring the portrait of King George VI, will be made from polymer and will come in denominations of £5, £10, £20, and £50. The existing polymer notes with Queen Elizabeth II will continue to be in circulation alongside the new designs.
To ensure smooth transactions, cash-handling machines, including self-checkouts, must be updated to recognize and authenticate the new banknotes. Retailers should contact the manufacturer of their cash-handling machines for the necessary programming. It is highly advised that these updates be completed by the end of March 2024.
The ACS advises retailers to stay informed and take necessary steps to integrate these changes into their operations. By proactively addressing this update, retailers can ensure seamless transactions and avoid any potential disruptions caused by the introduction of the new banknotes.
