UPDATE New $50 Notes on Track
The Reserve Bank has printed 150 million new $50 banknotes and are on track for the new $50 note to enter general circulation in October 2018.
Members are reminded that as with the new $5 and $10 banknotes this upgrade means cash machines will require degree of hardware or software update to enable them to process the new banknotes. This applies to all machines that dispense, accept, count or sort banknotes.
Contact your equipment manufacturers or distributors to plan your upgrade strategy. Existing $50 banknotes can continue to be used, as all previously issued banknotes remain legal tender. It is expected the $20 banknote will be upgraded next year.