New polymer $20-bills unveiled

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VANCOUVER (NEWS1130) – There may be some growing pains as we learn to use the new $20 bills; News1130 is looking at the transition to polymer.

The new notes have been unveiled today. They will be in circulation by November.

Trevor Frers with the Bank of Canada says this move has been in the works for several years.

“We expect most cash-handling machines will be ready for the polymer notes. The Bank of Canada has been working with the manufacturers of these cash-handling machines since 2009,” he tells us.

“This has involved providing them with test notes and other information. It’s very important that businesses check with their equipment manufacturers to make sure that they are ready,” he adds.

The new polymer bills are more durable, have additional security measures, and are completely recyclable. Though there could be some growing pains; new loonies and toonies have had problems recently, particularly in vending machines and parking meters.

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