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Today's Challenges |
Banknote Fitness QualityMaintaining the quality of banknotes in circulation is a major challenge for Central Bank issuers and commercial sector cash handlers in many parts of the world. Deterioration in note quality can lead to a lack of public confidence in the currency in circulation, can mask an increase in counterfeits and with today’s proliferation of automated banknote dispensing and depositing devices can lead to significant operational problems in terms of note jams and rejection of notes. Low value denomination notes are in particular likely to deteriorate quickly as they are usually used more frequently as change items and are also often poorly handled and stored by the public.
A comprehensive analysis of note quality needs to consider a number of factors that include: · Banknote distribution arrangements, both by the Central Bank and the commercial sector · Public usage and storage habits · Growth of automated teller machines (ATMs) and other cash dispensing and depositing devices · Commercial cash recycling activity and the level of automated banknote sorting equipment deployed · Durability of the banknote substrates and security features used · Appropriateness of the currency structure and consideration of the note / coin boundary Suggested recommendations may include changes to a country’s currency structure, the substrate materials used, changes to underlying Central Bank pay in and withdrawal policies and steps to encourage greater commercial sector currency fitness sorting and recirculation.
Contact us at enquiries@theblondgroup.com for a more detailed discussion about banknote fitness quality issues or other cash handling challenges your organisation faces. |
