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12.04.2016
Monetary Policy • The Swiss National Bank (SNB) launched its new 50-franc note on Tuesday. But we will have to wait a few more days to obtain the new cut off at the vending machines.
ATS
The new banknote is available at the SNB’s cash desk in Bern and at Zurich as well as in its branches managed at the headquarters of 14 cantonal banks, explained the issuing institute in a press release.
How to verify the authenticity of a 50-franc note?
https://www.youtube.com/watch?v=gU8IjPLM0d4
At the counters of other banking establishments and the Post Office, the new denomination will be available within a few days. The same goes for vending machines. ATMs must indeed be adapted to the newcomer. “This work will be carried out in the coming days by our suppliers,” Jean-Paul Darbellay, spokesperson for Credit Suisse, told ATS.
Old banknotes usable
The old denominations still remain valid. They can be used without restriction, underlines the SNB. The two tickets will therefore coexist for a certain period of time. The older denominations will then be gradually destroyed. The central bank estimates that this process will take around 6 months.
Other new notes will subsequently be put into circulation. The 20-franc denomination will be in about a year. The last to make its appearance, the 100-franc note, is expected in 2019.
About a year and a half will elapse between the issuance of the last denomination and the recall of the old banknotes. These will then lose their status as means of payment.
However, as required by law, the SNB will continue for 20 years, after the publication of the reminder, to exchange old denominations at their nominal value. However, the issuing institution recommends using the old banknotes for payments before switching to the new ones.
Farewell to personalities
These new denominations offer enhanced security to combat counterfeiting. About fifteen security elements are integrated there, entrusted Andréa Maechler, member of the management of the issuing institute. Watermark, microtext, micro-perforation, transparent elements, security tape or even sparkling globe are among them.
Other new features: the denominations will be slightly smaller. The SNB has also given up on including portraits in favor of representations of a country, Switzerland, “with many facets”.
In Switzerland and Liechtenstein
To raise awareness of these novelties, the SNB will broadcast a TV spot and carry out a poster campaign in Switzerland and Liechtenstein, countries which use the franc as their national currency. A mobile phone application is also planned.
This is the 9th series of new banknotes put into circulation by the central bank. More than 20 years have passed since the last broadcast.
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