Canada’s new $10 bill will start appearing in cash transactions late this year.
Designed to stand apart, it’s the first vertical note issued by the Bank of Canada, and features the portrait of social justice defender Viola Desmond.
Here’s what businesses and cash users need to know about this new $10 bill.
It Pays to Check
As with Canada’s other notes, the new $10 has bold security features, making sure Canadians can use it with confidence.
That’s why the bank issues new notes – to stay ahead of the counterfeiters and keep up with advances in technology, but remember, bank notes are only secure if one checks them.
Routinely checking all notes—no matter which series or value—allows one to intercept counterfeits and keep them out of circulation. The security features on Canada’s vertical $10 note are quick and easy to check:
Feel the smooth, unique texture of the note. It’s made from a single piece of polymer with some transparent areas.
Also feel the raised ink on the front of the note, namely on the portrait, the word “Canada” and the large number ’10’ at the bottom.
Look at the detailed metallic images and symbols in and around the large transparent window.
Look at the pattern in the eagle feather as well. Tilt the note to see the colour shift from gold to green.
Flip the note to see the elements inside the large window repeated in the same colours and detail on the other side.
The new $10 bill will be rolled out gradually and circulate alongside the other polymer $10 notes. Unlike the special $10 note issued for Canada’s 150th anniversary in 2017, printed in a limited quantity to mark this historical milestone, the vertical $10 note will be the regular $10 note produced for years to come.
Helping Businesses Prepare
Business owners may be wondering what this new $10 bill means for their cash-handling equipment.
The vertical $10 has been designed to minimize the impact on the cash-handling industry and maintains the same functional features as current polymer notes; equipment owners and renters should contact their suppliers with questions about machine compatibility.
A Look Ahead – What Comes Next
With the release of this new $10 bill, the Bank of Canada’s approach to issuing bank notes is changing. Rather than issuing all five denominations within a short time frame, a new note will be released every few years.
This allows the Bank to integrate the latest security features each time a new bank note is issued, ensuring that Canadians can continue to use their bank notes with confidence.
For free, downloadable materials to help businesses train their staff, visit www.bankofcanada.ca/retailers.
For more information, contact us at 1-800-303-1282 or info@bankofcanada.ca.
