Forecourts need to prepare themselves for a rise in counterfeit notes following the recent introduction of the new £20 polymer, according to Mike Severs, sales and marketing director at cash-handling specialist Volumatic.
"These plastic-style notes are not only more durable, but have heightened security features to help prevent counterfeit notes," said Severs. "However, as all seasoned retailers know, as long as there’s cash, there will be note forgeries. And, while the introduction of the new £20 polymer may help to reduce fraudulent notes in the long run, their debut means that retailers, especially forecourts, need to prepare themselves for a rise in counterfeit notes."
Severs said the Bank of England has yet to set a deadline day for the withdrawal of £20 paper notes when this happens, they’ll give six months’ notice. "Consequently, individuals will be looking to use up their old paper notes. Similarly, those with fake notes will be looking to get rid of their counterfeits while they may still fool some retailers and consumers."
02476 684217www. volumatic.com