Information regarding the implementation of legal regulations
Article 6 (1) of the amended Regulation (EC) No 1338/2001 applies to: “Credit institutions, and, within the limits of their payment activity, [...] payment service providers, and any other institutions engaged in the processing and distribution to the public of notes and coins” (eg foreign exchange bureaux, cash-in-transit companies with a licence pursuant to the Payment Services Oversight Act (Zahlungsdiensteaufsichtsgesetz) as well as casinos and traders which operate ATMs as a secondary activity).
These institutions and economic agents are obliged to ensure that
- the euro banknotes and coins that they receive and intend to put back into circulation are checked for authenticity and that counterfeits are detected.
- the euro banknotes and coins that they receive and which they know or have sufficient reason to believe to be counterfeit are withdrawn from circulation.
Euro banknotes have to be checked in accordance with the provisions stipulated in the ECB Decision on banknote recycling, which defines a harmonised set of rules and procedures for the checking of authenticity and fitness for circulation as well as for the reissuing of euro banknotes.
The following general principles apply to the reissuing of euro banknotes.
- Euro banknotes may only be re-issued via customer-operated systems or ATMs if they are checked beforehand for authenticity and fitness for circulation using an approved banknote processing system listed on the ECB’s website.
- Euro banknotes which have been checked for authenticity and fitness for circulation by trained staff members may only be paid out again over the counter.
The Bundesbank has put together a document containing general explanatory notes and definitions in connection with the ECB Decision on banknote recycling and the Regulation on the auditing of cash (Bargeldprüfungsverordnung) for the obligated parties. Furthermore, the Bundesbank is on hand to provide you with further information and advice about banknote recycling.