OREANDA-NEWS. January 10, 2012. The need to introduce the software update is due to the decision of the ECB's Governing Council laying down requirements to checking the authenticity and fitness for circulation of euro banknotes and to the recycling of banknotes. From now on, credit institutions and cash handlers release only such banknotes back into circulation that have successfully passed the machine check. The Governing Council's decision is applied in Estonia from 1 January 2012, reported the press-centre of Eesti Pank.

As a result of the update, cash deposit terminals remove damaged or suspected counterfeit banknotes from circulation.

According to Rait Roosve, Head of the Cash and Security Department of Eesti Pank, the main goal of the new regime is to maintain the quality and authenticity of the banknotes in circulation. "So far cash depositing machines have been returning deposited cash the authenticity of which has not been 100% certain, but the software update ensures the machines remove banknotes that may be counterfeit. The terminals do accept any cash, though, and in cases the authenticity of banknotes needs follow-up control, they will issue receipts to customers," Roosve explained.

The authenticity of suspected counterfeit cash is established by the Estonian Forensic Science Institute and the Police and Border Guard Board is responsible for informing the depositor of the results of the check.

There are a total of 130 cash depositing terminals in Estonia. 60 of them belong to Swedbank and 43 to SEB. More specific information about the cash deposit terminals is provided by the customer support telephones of Swedbank (6310 310) and SEB (6655 100).