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16
JUN

Challenges for $5 Australian note

A trip to your nearest vending machine for much-needed sugar rush may prove to be just as disappointing as your confectionary getting stuck in the machine.


New Australian $5

The brand new Australian $5 note is being rejected my snack and gambling machines all across Australia, leaving people feeling very defeated. This world first anti-counterfeit note, which has also been designed to help vision impaired individuals is being spat by snack machines and gambling terminals alike.

170 million $5 notes were printed by the Reserve Bank and released on September 1, 2016. However, since their release, they caused more challenges for individuals and vending machine owners.

Snack Vending Machines

Bruce Davey, owner of Your Choice Vending, owns approximately 550 vending machines around Sydney, said it would cost him around $30,000.00 to upgrade all his machines to accept the new $5 note. To date, only half of his machines have been upgraded.

Davey said the problem was mainly due to the existing money readers retrofitted to his machines. He further added that some companies make note readers with simple software, which only needs to be updated in order to read the new note. However, other readers are more labour intensive. While, one manufacturer is yet to release a fix for the current money readers. This forced him to buy new readers for some of his machines.

Gambling Machines

The challenges don’t stop there. Betting company TAB seems to be experiencing similar problems with the new notes. They have since placed signs on their machines to advise gamblers swop their new $5 notes for vouchers.

A spokesperson for TAB said; they are currently updating their machines and plans are in action to have all of their accepting the new note by the end of the year.

Additionally, the Woolworths self-service machines also rejected the notes during the first week of being released. However, this has been resolved by the company updating its software to accept them.

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