With the current series of Banknotes approaching 20 years of circulation the Reserve Bank has announced its intention to release an upgraded series of Banknotes. This will be staged across the next two years with the first denomination scheduled to be released in late 2016.
In light of the potentially significant upgrades required for Note Counting machines to process the new Banknotes, the Reserve Bank launched an engagement program called Machine Readiness Program (http://banknotes.rba.gov.au/portals/machine-readiness-program/) early in the Banknote development process.
Our Manufacturers have been working closely with the RBA to develop an upgrade program to ensure that most current equipment and any new equipment purchased will adequately process the new Banknotes.
Over the next few weeks we will be able to communicate the outcome of the final assessment on the new notes. It is likely that some banknote processing equipment will require some degree of upgrade and some equipment may be required to be replaced. The costs associated with this will depend on the nature of the upgrade required.