Shekel money bills.
(photo credit: REUTERS)
As the Bank of Israel prepares to issue new NIS 20 and 100 banknotes later this year, the institution is calling upon members of the public to exchange old NIS 50 and NIS 200 bills for the most updated versions.
While the bank has yet to announce precise dates as to when the new NIS 20 and NIS 100 notes will be available, these bills will join the Series C NIS 50 and NIS 200 notes already in circulation for several years. Series C banknotes have a variety of security components aimed at thwarting counterfeiters, including a transparent portrait, perforated numerals, raised ink, a glitter stripe and ultraviolet features.
“During periods when banknote series are replaced, counterfeiters and other criminal elements try to profit unlawfully by distributing copies and photocopies of banknotes, taking advantage of the public’s lack of acquaintance with the new banknotes and their security features,” a bank statement read.
Ahead of the forthcoming entry of the Series C NIS 20 and NIS 100, the Bank of Israel has already issued samples of the new bills to manufacturers, suppliers and operators of vending, counting and sorting machines, in order to calibrate their systems, the statement explained.
With the Series C NIS 50 and NIS 200 notes already in circulation since September 2014 and December 2015, respectively, the Bank of Israel is asking members of the public to replace any old Series B bills, free of charge, at commercial banks, the Postal Bank or the Bank of Israel’s public cash window in Jerusalem.
Alternatively, the Series B banknotes can be deposited in bank accounts.
Since the launch of the Series C NIS 50 and NIS 200 notes, about 90% of the Series B NIS 50 bills and 60% of the Series B NIS 200 bills have already been replaced, the bank’s statement said.
Automatic cash withdrawal machines are now issuing the new NIS 50 and NIS 200 notes only.