The Bank of Canada today announced that it will issue a $5 note with upgraded security features beginning 15 November 2006 as part of its ongoing effort to improve the security of Canadian bank notes.

The upgraded $5 will include the same security features as the other denominations in the Canadian Journey series, making it easier for consumers and cash handlers to detect counterfeits. These features include a metallic holographic stripe, a watermark portrait, a windowed colour-shifting thread woven into the paper, a see-through number, and enhanced fluorescence under ultraviolet lighting. The design, colour, and theme of the upgraded note will remain the same as those on previously issued $5 notes from the Canadian Journey series.

The Bank is collaborating with its partners to ensure the smooth introduction of the upgraded $5 note into circulation. The Bank will provide manufacturers of note-handling equipment—such as automated banking machines (ABMs), change makers, and automated ticket dispensers—with the necessary information to make the required adjustments to their equipment before the notes are circulated.

The Bank will also work closely with financial institutions to replace older $5 notes in circulation with the upgraded $5 notes. This will ensure that Canadians have the more secure notes as quickly as possible to reduce opportunities for counterfeiters. Older versions of the $5 note will, however, remain legal tender.

Consumers and retailers can protect themselves from loss and reduce opportunities for counterfeiters by regularly checking their bank notes. Retailers are the first line of defense in the fight against counterfeiting. By knowing how to quickly and reliably identify genuine bank notes, they can help keep counterfeits out of circulation. In a similar manner, consumers can protect themselves by checking the notes they receive in change.

For more information on Canadian bank notes and their security features, as well as for educational and training materials, visit www.bankofcanada.ca/en/banknotes.

Note to Editors:
  • Images of the front and back of the upgraded $5 bank note are available to the media upon request. Anyone wishing to publish bank note images must first obtain written permission from the Bank of Canada.