The Reserve Bank of Australia (RBA) has announced that a new $5 bank note will be in circulation from 1 September 2016. Current gaming machine bank note acceptors will not accept the new design $5 notes.
The $5 note is the first of a series of redesigned Next Generation Banknotes which have a higher level of security that will make counterfeiting more difficult. Other denominations will be progressively introduced in coming months and years.
L&GNSW advises that there is no government requirement for venues to upgrade their gaming machines to read new banknotes. It will be acceptable for venues to use signage to indicate which machines will (or will not) accept the new notes.
If venues wish to undertake banknote acceptor upgrades, third party suppliers (ecash & Transcity) and gaming machine manufacturers have progressively been given approval to upgrade existing gaming machines in the field. There are no restrictions on which approved gaming machines the banknote acceptor upgrades can be installed on.
Venues are of course reminded that the new banknotes will also affect other equipment, such as vending machines, ATMs, cashback terminals and self-service betting terminals. As an alternative to upgrades to accommodate new bank notes, gaming venue operators may wish to consider putting up signage to notify players of the change and options available to them at the venue.
Find out more about the bank notes on the RBA website.