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New NZD Bank Notes – Update February 2016
The New Zealand bank notes have changed. On the 1st September 2015 the RBNZ [Reserve Bank of NZ] revealed the new designs for the $5 and $10 bank notes, which are now in circulation.
These new notes have more sophisticated security features to guard against fraud and also feature brighter colours.
The $5 and $10 notes were released into circulation from the 12th October 2015, but the rate of release will not be fast.
The new $20, $50 and $100 notes will not be released until May 2016. The rate of introduction of all these new notes is to be gradual – by 2017 only about 30% of the notes in circulation will be new notes and by 2018 only about 55% of the notes will be new.
Clearly existing Coinco Vantage Note Readers will need to be ‘retuned’ to accept these new notes. This ‘retuning’ process involves downloading the tune into the note reader from a hand held device either while still installed in a vending machine, or in our service department. This tune will enable both new and existing notes to be all accepted.
We have been retuning Vantage note readers to accept the new $5 and $10 notes [in addition to the existing ‘old’ notes] since October last year.
Our calibration and testing process for the new $20 note is complete and we are now retuning Vantages to take all 3 new notes: $5, $10 & $20. It is not our intention to create tunes for the $50 note.
New Vantages are now being supplied with this new $5, $10 & $20 tune.
We encourage our customers to begin getting your Vantages retuned. This can be done either by returning your Vantages to us to retune or using a hand-held device. If you have smaller quantities of Vantages we suggest you return them to us where they’ll get a clean and full test as well.