A great opportunity with the introduction of the new 12-sided £1 coin.
The New One Pound Coin
The Treasury has urged businesses to prepare in advance for the 28 March 2017 introduction of the new 12-sided £1 coin to eventually replace the old round pound which we have been using for the last 30 years. Following the introduction of the coin, there will be a six-month period when both the new and the old £1 coin will be in circulation at the same time until the 15 October 2017 when the round pound will cease to be legal tender.
The new coin is being introduced in order to tackle the problem of counterfeit money, a ‘hidden high-security feature’ has been added to the new coin in an effort to make its design harder to replicate.
What must businesses do?
- Determine which of your cash processing equipment is calibrated to accept the new £1 coin and which may need to be upgraded or replaced
- Contact your equipment manufacturer to discuss any upgrades or replacement of your cash processing technology
- Train staff on the security features of the new £1 coin and ensure they know how to spot authenticity
- Consider any changes to the cash handling processes e.g. counting, storing and banking to determine the best way to exchange the old pound coins with your bank/CIT provider
- Make the necessary changes prior to 28th March 2017
- Ensure staff do not accept the old pound coins after the date of demonetization on the 15 October 2017
For more information please check this Link
What else can businesses do?
In this confusing transitional period, a lot of attention will be paid towards what to use on supermarket trolleys, gym lockers etc which is where you can take advantage. Personalised trolley token coins are an amazing cost-effective promotional tool that ensures your logo and contact details are always in view and close to your customer whilst out and about, you can be sure that they won’t forget about you!
We have a huge choice to choose from, so why not input your details below for an instant quote or call 020 3640 7670 to speak to one of our experts who will ensure your campaign receives the care and attention it deserves because impressions count.
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