Cash-handling Machine Industry
The Bank of Canada works closely with bank note equipment manufacturers (BEMs) and financial institutions to prepare for the issuance of new bank notes and facilitate a smooth introduction.
What is equipment for handling bank notes?
They are machines that process bank notes, including:
- bank note counters
- bank note validators
- self-serve kiosks
- gaming machines
- transit, parking and vending machines
- point-of-sale devices
- bank note dispensers (e.g., ABMs)
- bank note recyclers
- high-speed bank note processing machines
The Bank of Canada’s Outreach Program
For optimal engagement with BEMs, the Bank offers an Outreach Program with different levels of participation. The program structure allows BEMs to choose the level of participation that best suits their various business needs.
Through this program, BEMs can engage in a confidential, bilateral relationship with the Bank throughout the new note development and circulation lifecycle. Program options also provide BEMs with access to equipment testing periods, two-way information sharing and pre-issue purchase of new bank notes.
For non-program participants, the Bank will share information that is publicly available on note issuance, important developments, and circulation statistics.
How the Bank of Canada can help you
The Bank of Canada works closely with BEMs in three ways:
- provides manufacturers with information to help them determine the nature of the adjustments required to their equipment; if deemed appropriate, the Bank may also solicit feedback on the design and material of new bank notes;
- offers manufacturers and suppliers advance bank notes to test on their machines several months before each new note goes into circulation; and
- publicly unveils a new note several months before issuing it to raise awareness among businesses.
What you need to know
Equipment owners and renters
If your business uses equipment like cash counters, ABMs, self-serve checkouts or vending machines, they may need to be upgraded for new bank notes, or in some cases, replaced.
Keep in touch with your equipment manufacturer or supplier to find out what adaptations will be required and when they will be completed.
Equipment manufacturers and suppliers
Manufacturers and suppliers are encouraged to ensure that their machines will accept or dispense new bank notes when they are issued.
The Bank asks that manufacturers and suppliers keep their customers informed of when adaptations will be made available. Those who own or rent bank note handling equipment will be counting on timely adaptations to serve their clients.
If you have questions, or are interested in obtaining more information about the Outreach Program, please contact us.