As of today, Australia’s new $10 note has entered circulation with the RBA promising there will be no repeats of last year’s $5 note fiasco, where vending machines refused to recognise the new note.
The note, which retains the images of Dame Mary Gilmore and Banjo Paterson, has added security measures that will make Australian cash harder to counterfeit.
The colour and size will not change, and will – much like the $5 note – have features to help the vision-impaired.
In a statement to News Corp, RBA Governor Philip Lowe said the new note is an important step in cracking down on counterfeit cash.
“The launch of the new $10 banknote is a milestone in our program to deliver Australians banknotes at the cutting edge in terms of security against counterfeiting.”
“I am pleased that people will start to see the new $10 entering their wallets and pockets, and that it continues the tradition of celebrating two of Australia’s most prominent writers.”
Meanwhile, the RBA's assistant governor for business services, Lindsay Boulton, told Fairfax they had ensured businesses with cash-handling machines were given ample warning about the note, in the hope they would upgrade their equipment before the note was circulated.
"For the $5 note, we made production quality banknotes available to the manufacturers and operators some six months in advance. We've done the same for the new $10 bank note," Mr Boulton said.
"So manufacturers and operators have had the opportunity for the past six months to use those production quality bank notes to make changes to their machines, should they need to do so."
It's believed a re-vamped $50 note will be next to circulate some time next year.
Mamamia is funding 100 girls in school, every day.
So just by spending time with Mamamia, you’re helping educate girls, which is the best tool to lift them out of poverty.
Thanks for helping!