For independent retailers, knowing how to check banknotes is crucial, as counterfeit notes can not only result in direct financial loss but can also disrupt operations and affect customer trust. Being familiar with the security features of the newer banknotes means that staff can confidently authenticate cash, adding a layer of security for your business and customers.
The Bank of England has shared a free online training module on banknote security features, with the course providing essential guidance on how to identify genuine banknotes quickly and accurately, including a brief quiz at the end to test your newfound knowledge!
Bira members can also join the free Banknote Checking Scheme, which provides up-to-date information on banknote protection and further supports fraud prevention efforts in the retail sector.
Latest Resources
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The UK Finance website is home to resources on banknote security
From January 2024, educational materials and information for independent retail businesses on Scottish and Northern Irish banknotes are available on the UK Finance webiste.
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Strong Customer Authentication (SCA): What a shop needs to know
With contactless payments and online purchasing becoming a prevailing method of payment on the high street and the web, keeping up with anti-fraud measures such as SCA is vital for independent shops of all sizes...