The Code of Conduct for the Authentication of Machine-Dispensed Banknotes (‘the Code’) was launched in July 2013 for Bank of England Banknotes, and was extended in March 2017 to include Scottish and Northern Ireland banknotes to provide members of the public the same reassurance on authenticity regardless of which sterling banknote is dispensed by a Customer Operated Cash Dispenser (COCD), anywhere in the UK.
The Code is sponsored by the Bank of England, British Retail Consortium, Cash Services, LINK, and the Association of Commercial Banknote Issuers. To help maintain confidence in the currency, the Code requires Bank of England and Scottish and Northern Ireland banknotes dispensed through all customer-operated cash dispensers (COCDs, e.g. ATMs, self-service checkouts, etc.) to have been machine-authenticated prior to their dispense.
The machine used to authenticate the notes must be listed on either the Bank of England’s Framework for the Testing of Automatic Banknote Handling Machines for Bank of England banknotes, and/or the Association of Commercial Banknotes Issuers Framework for the Testing of Automatic Banknote Handling Machines