The latest banknotes with the new King Charles III designs will enter circulation next week on June 5, and retailers should prepare themselves on how to spot counterfeit notes with the incoming banknote designs.
As the new notes enter circulation, so do new counterfeit notes, which can pose as a problem for retailers financially. As such, retailers can learn best practices for checking the new King Charles III banknotes by visiting the Bank of England website, which provide a variety of training materials, posters, booklets, and educational videos to equip retailers with the knowledge and skills needed to spot counterfeit notes that might enter circulation next week.
These can be distributed to store staff so that everyone is equipped with the necessary knowledge and tools to deal with counterfeit notes if they enter the store.
The advice also highlights what retailers and convenience colleagues should do upon receipt of a counterfeit note and outlines what to do across a variety of situations. For example, the advice highlights how colleagues should approach a situation depending on whether the customer has left and how threatening they might be.
ACS chief executive James Lowman said, “We highly recommend all retailers to visit the website and review the training materials so that they can be prepared for the new King Charles notes next week.”
“By understanding the best practices on checking for counterfeit notes, retailers and convenience colleagues can help to protect each other and continue the good work they do for communities across the UK.”
Retailers can access these training materials by visiting Advice for retailers and businesses | Bank of England.
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