Volumatic, the UK’s leading cash handling experts, are urging retailers and businesses to take note of the latest Bank of England guidance on identifying forged banknotes, particularly as concerns rise over a fresh wave of counterfeit £20 notes entering circulation.
The Bank of England’s advice, released earlier this year, highlights the advanced security features on both Queen Elizabeth II and King Charles III polymer banknotes, including holograms, foil patches and transparent windows. It also offers practical steps to help businesses detect and respond to suspected forgeries.
While the number of counterfeit notes remains relatively low, thanks in part to the switch from paper to polymer, 89,000 fake counterfeit banknotes were still removed from circulation in 2024, and there are signs that attempted forgeries are once again on the rise.
Volumatic has seen an increase in enquiries from businesses struggling with counterfeit notes since the start of the year. With counterfeiters becoming more sophisticated, retailers are being reminded that older detection tools like pens are no longer effective, and even UV lamps have their limitations.
James Harris, Managing Director at Volumatic, said: “Counterfeit notes have sadly been around for many years, and lots of both big and small retailers are contacting us at the moment as forgeries are causing them a big headache.”
Volumatic offers a comprehensive range of note-checking devices and cash management solutions, all tested and approved to detect the latest forgeries and fully aligned with Bank of England standards.
Their BV20 SD and BV30 SD forgery detectors are compact and discreet single-note checking devices for use at POS, recognising all known GBP, Euro, Scottish and Northern Ireland notes. For businesses handling higher volumes of cash, the FC300 note counter checks, counts, and sorts banknotes with ease, while the best-selling CounterCache intelligent (CCi) provides a full end-to-end cash management solution when used with Volumatic’s CashView Enterprise software.
All Volumatic detectors have passed the Bank of England’s Framework test, providing businesses with a trusted, compliant way to reduce risk and protect against financial loss.
Harris added: “Every Volumatic device is tested to the highest standards, and we offer updates for our detectors whenever new counterfeits emerge. It’s all about peace of mind, helping protect businesses, staff, and customers.”
For more information, visit www.volumatic.com and the Bank of England's ‘How to check your banknotes’ advice here.