Cash Services, the industry body for notes and coins, has published a review of the first implementation phase of the Code of Conduct for the Authentication of Machine-Dispensed Banknotes (the ‘Code’) together with a revised version of the Code. The Code requires Bank of England banknotes from note-dispensing machines, such as ATMs and self-service checkouts, to have been machine-authenticated. It applies authentication standards to businesses that self-fill these machines using banknotes tendered by their customers.
Although the Code is voluntary, it should be followed by any organisation that operates automated banknote-dispensing machines. Victoria Cleland, Chief Cashier and Director of Notes Directorate, Bank of England said that “It is important that the public continue to have confidence in our banknotes. The Code is another key step by the cash industry to support this confidence”.
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