Canada’s new $10 bank note will begin to appear in cash transactions later 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.
As with Canada’s other notes, the new $10 bill has bold security features, ensuring that Canadians can use it with confidence. That’s why the Bank issues new notes: to stay ahead of counterfeiting threats and to keep pace with advances in technology.
However, bank notes are only secure if you check them. Routinely checking all notes—no matter which series or value—allows you 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.
• 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. 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 note will be rolled out gradually and circulate alongside the other polymer $10 notes.
Unlike the special $10 bank note issued for Canada’s 150th anniversary in 2017, which was printed in a limited quantity to mark the historical milestone, the vertical $10 note will be the regular $10 note produced for years to come.
Business owners may be wondering what this new $10 bank note means for their cash-handling equipment. The vertical $10 note has been designed to minimize the impact on the cash-handling industry and maintains the same functional features as the current polymer notes.
Equipment owners and renters should contact their suppliers with questions about machine compatibility.
With the release of this new $10 note, 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 will allow the Bank of Canada to integrate the very latest security features each time a new bank note is issued, ensuring that all 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 the Bank of Canada at 1-800-303-1282 or info@bankofcanada.ca.