Industry engagement

Engagement with the industry continued as we got closer to issuing the new banknotes. Industry meetings took place and we remained in regular contact with banknote equipment manufacturers to ensure the banknote industry was ready for the new notes.

A range of materials was produced for the banknote handling industry. These were available from September 2015. We also planned an education campaign to inform New Zealanders about the new notes and security features.

Machine readiness of banknote handling equipment was initiated at the beginning of 2015 and continued through until the launch in October 2015. It envisaged that all banknote equipment would accept both existing and new banknotes from this time.

Banknote handling industry consultation

In November 2014, the Bank published a response to submissions following its consultation with the banknote handling industry on the practical implications of introducing new banknotes.

The aim of this consultation was to provide the Bank with a comprehensive understanding of the banknote handling industry in order to facilitate a smooth introduction of the new notes. The consultation also provided information to help the Bank to further communicate and engage with industry stakeholders.