Ahead of Eid-ul-Azha, Bangladesh Bank released nearly Tk 500 crore worth of new currency notes, including Tk 20, Tk 50, and Tk 1,000 notes. But the new Tk 1,000 notes are creating confusion and problems, especially with CRM (Cash Recycling Machines) and ATM booths.
A video on social media shows a man trying to deposit the new note into a CRM booth, but the machine keeps rejecting it, sometimes treating it like an invalid paper.
Why the Machines Are Rejecting the New Note?
Bangladesh Bank Says It’s a Technical Issue
Bangladesh Bank’s spokesperson Arif Hossain Khan said this is a technical issue, not a problem with the note itself.
He explained:
“If the machines are programmed with the new note’s security features and design, they will work. Banks usually take only 24 hours to do this.”
He also added:
-
The central bank is distributing the new notes in limited numbers before Eid.
-
It will take time for the new notes to fully spread in the market.
-
The note’s printing materials were earlier sourced from a British company, which suddenly shut down. Now, Bangladesh is importing materials from Germany.
Read More: Advisor Asif Mahmud accuses Ishraque Hossain of ‘criminal offense’
Is It Just a Machine Issue?
Central Bank vs. Commercial Banks: Who Is to Blame?
A senior official from Security Printing Corporation blamed the banks for the issue.
He said:
“Banks are not doing their part. They just need to collect the features from the central bank and update the machines.”
However, some private bank managing directors (MDs) disagreed.
They said:
-
Before Eid, the Governor told banks not to place the new notes in ATMs or CRM booths.
-
The Governor informed that it may take until June to fully adjust the security features and images of the new notes.
It Takes Time to “Teach” the Machines
Banks Say Machines Need 2–3 Months to Be Ready
Officials from bank card divisions explained that CRM and ATM machines need 2–3 months to be updated for new notes.
They said:
-
If the machines are not updated properly, fake notes may enter the system.
-
The machines work only when the note matches 100% with the stored “template” or design.
Md. Abedur Rahman, Vice President and Head of Cards at Midland Bank, said:
“A special template must be created for the machine to recognize the new note. Usually, machine manufacturers do this.”
Another deputy managing director explained:
-
Bangladesh Bank hasn’t given banks the full security features of the new note yet.
-
Some banks requested sample bundles a month ago.
-
The notes are currently being tested through simulation in Japan due to changes in design, size, thread, and colour.
International Help Needed for Machine Updates
Global Tech Giants Involved
Companies like Hitachi (Japan) and NCR (USA) create the templates.
-
Banks need to send sample notes to these companies or have their engineers test the machines in Bangladesh.
-
Not all ATMs can be updated at once—most banks don’t have centralized software to update all machines together.
-
So, updates must be done manually on each machine.
Other ATM/CRM Problems
More Than Just Note Design
Aside from the new note issue, other technical problems affect ATM/CRM machines:
-
Notes that are dirty, wet, too thin or thick may also be rejected.
-
Machines use friction and suction to pull notes—if a note is slightly different, it fails.
Source: TBS
