This tag is associated with 7 posts

United Arab Emirates Banknotes Pose Problems for ATMs

Five months after the United Arab Emirates (UAE) introduced new Dh500 bills, the Central Bank said it is still experiencing problems with automated teller machines (ATMs) accepting the new banknotes. The bills feature new anti-counterfeiting devices such as transparent windows that are proving to be incompatible the existing ATMs. Rashid Al Fandi, executive director of […]

‘Super ATM’ Could Dramatically Reduce Cash Handling Costs

A new automated teller machine (ATM) introduced in Europe last year could very well prove to be an innovation that will change banking for businesses around the world. The Q-Cash Router (QCR) – a type of “super ATM” – recycles banknotes and reduces lengthy and costly steps for businesses. Instead of taking their cash to […]

Spain Introduces Contactless ATM

From specialized high-tech security features to electronic transfers, technology has a profound impact not only on banknotes, but also on everyday banking transactions. That technology continued to grow this week as Spanish bank La Caixa introduced the world to the contactless ATM. Instead of inserting debit cards into a slot, customers using the machines simply […]

US Treasury May Change Banknotes

Several months after the unveiling of a new high-tech $100 US bill (set to be released into circulation in February 2011), the US Treasury is considering making changes to all banknotes, and has asked for public comment on their intent to do so. The changes have very little to do with the actual security of […]

Britain Attempts £5 Banknote Revival

In an attempt to revive the life of the £5 banknote, British banks will soon make the notes available in automated teller machines (ATMs). The Bank of England says the £5 was beginning to fall out of circulation because many people now consider the denomination to be “small change.” As a result, a bank source […]

“Top 10 Things You Didn’t Know About Money”

With the US Mint launching the release of a new $1.00 coin in November, Time Magazine drafted this list of top-ten tidbits about money that may surprise you: #1 – The Largest Banknote: Measuring in at roughly the size of a sheet of legal paper, the world’s largest single banknote is the 100,000-peso note created […]

British Business Leaders Demand More Ten Dollar Banknotes

In a prime example of how the demand for banknotes is rising even in a plastic and digital age (see also: Combating Counterfeiting: A Brief History of Security Features ), the Daily Mail reported this week that British business leaders have urged the Bank of England to increase the number of £10 notes in circulation. […]