The Bank of England launches new Banknote Checking Scheme

The Bank of England’s new Banknote Checking Scheme was launched on 10 October. The Scheme is aimed at cash-handling businesses and promotes banknote checking at point of sale through targeted training. Its aim is to reduce the number of counterfeit notes being accepted and to reduce losses to businesses.

Published on 11 October 2017

Any retailer or business can sign up as a supporter of the Banknote Checking Scheme by pledging their support annually to a set of six guiding principles. The Scheme encourages increased banknote checking tailored to each individual business model. Supporters will have access to advice and a range of education and training materials to help shape banknote checking within their business. This includes leaflets, posters, online computer-based training, targeted advice and regular webinars, as well as updates on relevant banknote topics such as the issue of new-style banknotes and withdrawal of old-style banknotes.

Press release