Gold 104.3

Now Playing:

Listen on

Why The New $10 Note Was A BIG Fail

If you felt a bit of a dejavu while reading that headline, but can't work out why, let me shed some light on it for you.

The exact same thing happened when the new design of the $5 note was released. And by exact same thing, we mean it was a complete and utter fail!

When the $5 note was released with a new clear strip as a design feature to try and stop fake notes, it was rejected by machines like self service at supermarkets, vending machines, pokies and TAB betting terminals.

And well, the same thing seems to be happening as the Reserve Bank of Australia introduced the new $10 note just yesterday.

After people began complaining that the new note wasn't working properly, The Daily Telegraph decided to test it for themselves. They purchased 10 of the new $10 notes from the bank's head office in Martin Place and went around to a few different pubs across sydney to try them in the TAB betting machines.

They were rejected with a message reading, 'Warning: bad or invalid banknote detected." The notes were also tested on poker machines, with even a machine that was only a week old, rejecting the $10 note.

There was even a vending machine at Central station that had a sign saying "we accept the new $5 and $10 note" on it. And you guessed it, the new note was rejected here too.

I could go on, but I think you get the point...

Luckily, there were some self-service checkouts at certain Coles, Woolworths and Kmart stores that appeared to redeem the $10 note's reputation as it worked on them as well as some Opal card top up machines. 

A spokesperson from TAB has said "once testing is complete and regulatory clearance obtained" their machines will be able to be updated to accept the $10 note.

The chief executive of the Gaming Technologies association, Ross Ferrar, said that while they will be making newly built poker machines able to accept the note, it is the responsibility of each venue to update their current machines.

Let's hope we don't see this happening AGAIN when it comes time for a new $20 note.

Share this: