Retailers and businesses will be much busier than normal over the festive period and often employ temporary staff, so there is an increased risk of counterfeit banknotes being passed.
During this busy time we are reminding retailers and businesses to check that all banknotes being passed in transactions are genuine, and to ensure staff know what to do if they suspect a banknote is counterfeit.
This page runs through the security features on the new polymer £5 note issued on 13 September 2016 and all current paper notes and offers general advice to retailers.
You can continue to accept the paper £5 note until 5 May 2017. After this date, legal tender status will be withdrawn.
Manual checks can quickly and easily be made using the security features on banknotes whenever notes are being passed in a transaction. Don't rely on checking just one security feature, but check a few.
If you would like to receive any of the following videos in mp4 format to help train your staff, please email email@example.com
Watch the video below to see the security features of the new polymer £5 note, issued on 13 September 2016.
The following short video shows how to check your paper banknotes are genuine using the security features.
Watch our short video below for counterfeit prevention advice for retailers and businesses.
To find out more about our free of charge staff training materials
, including a banknote app, booklet, posters, film and deterrent stickers, showing you how to check that banknotes are genuine, see the link below.
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The Bank recommends that retailers and businesses establish a company policy so employees are clear on the procedures to follow should they be presented with or discover a counterfeit banknote. See Hints & Tips below for more information.
Some retailers and businesses use machines to count, sort and validate banknotes. To assist both users and manufacturers the Bank has a framework for testing machine capabilities, see 'Framework for Cash Handling Machines' link below for more information.
The Bank is keen to work on anti-counterfeiting issues with retailers/businesses and trade associations directly. If you would like help or advice please contact us