It also published its formal response to the consultation, the results of which are reflected in the Code.
The Code sets out banknote authentication standards for those businesses that self-fill their ATMs or self-service check-outs using banknotes tended by members of the public (a process known as ‘local recycling’). These are comparable to the high standards already required of the wholesale cash industry (which continues to supply the vast majority of banknotes acquired by the public). Nearly thirty consultation responses were received from ATM deployment, retail, banking, cash-in-transit and other companies.
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