Bank of Estonia: New €50 notes to enter circulation beginning in April

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Social benefits are yet another area affected by the newly completed administrative reform in Estonia. Source: (European Central Bank)

At the beginning of April, the Bank of Estonia and other central banksof the euro area will release a new €50 bankote into circulation which features a new design and new security features.

According to Estonia's central bank, in order for the new banknote to enter smoothly into circulation, it is important for businesses to update their cash handling equipment in a timely fashion as well as know about the notes' new features.

"All traders must accept currency that is legal tender, and if preparations have not been made yet, it is the final time for doing so," Rait Roosve, head of the Bank of Estonia's Cash and Infrastructure Department, said in a press release. "The new notes must be accepted even if technical upgrades have not been made or there is no cash authenticating equipment. The authenticity of all of the banknotes can be checked by hand and by anyone, not just by professional cash handlers."

The most eye-catching change to the €50 notes of the new Europa series is the same as on the new €20 notes — the transparent portrait window included in the holographic strip located the right-hand side of the note. The bill's other security features — the watermark portrait of Europa and a holographic strip, the emerald green number and the short raised lines on the edge of the note — are the same as those on the new €5, €10 and €20 notes of the Europa series.

The new €50 note will enter into circulation on April 4. Paying with the new banknotes is expected to be simple and straightforward as long as merchants have updated their cash-handling equipment and authentication devices.

Editor: Aili Vahtla

Source: BNS

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