ECAB, CUB first local banks to roll out EC polymer notes

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By Robert A. Emmanuel

The Eastern Caribbean Amalgamated Bank (ECAB) and the Caribbean Union Bank (CUB) have become the first two banks in Antigua and Barbuda to obtain the new Eastern Caribbean (EC) $50 polymer banknotes, and making them available to their customers.

The official launch of the new polymer banknotes was announced in May by Eastern Caribbean Central Bank (ECCB) Governor, Timothy N.J. Antoine, and in an interview yesterday, Resident Representative at the ECCB Agency Office in Antigua and Barbuda, Albert Lockhart said people who petronise these banks should be able to possess the new notes as soon as yesterday or today.

Lockhart added that persons should be aware of the differences between the paper and polymer notes.

“There are useful things to note, for example, they are made up plastic, so you don’t want to subject them to extreme heat, like ironing, and you don’t want to be putting a sharp crease in them, but they can withstand the normal use, wear and tear, folding, and putting in your wallet and pocket,” he said.

The EC polymer notes are more resistant to dirt and moisture, more difficult to counterfeit due to their advanced security features and more durable than paper, and are difficult to tear.

The notes will also have a design feature which will allow visually impaired persons to easily distinguish the denominations.

The ECCB Agency Office on Factory Road is providing posters and brochures of the new family of EC polymer notes to persons who are interested.

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