CPM Forum
Foreign => Polymer Notes => Topic started by: friedsquid on April 22, 2010, 04:34:14 pm
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I have heard from a few people already that many ATM's will not be able to handle polymer notes unless they are modified, if at all possible.
Also, some current cash counters do not correctly count polymer notes correctly.
Does anyone have any info as to what changes, if any will have to be made or considered.....looks like this could be a costly venture for some.
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All new ATM's are already designed to handle global currencies. It just boils down to software applications. Any place that has old machines in the 10-15 year old range, which likely would be some credit unions, and not banks were built long before any polymer notes were ever made, and just don't have the capabilities to handle new notes.
And the only change on cash recyclers would be a new software application, for fraud detection of counterfeit notes.
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The Australian experience. ATM has been dispensing polymer notes ($20 and $50) since 1995 and I seldom see them using new notes on ATMs. If I can find one, usually there are inserted between used notes. Perhaps there is a reason for not using new/uncirculated notes on ATM as they tend to stick together when pressed together.
One good thing about polymer note is that once damaged, you can't repair it unlike those papernotes and for that getting cheated by a seller would be slim as one can tell easily if the note is in UNC condition or not.