Media Release Next Generation of Banknotes: Circulation Date for the New $20 Banknote

Next Generation of Banknotes: Circulation Date for the New $20 Banknote

Governor Philip Lowe today announced the new $20 banknote will be released into general circulation on 9 October 2019. While they will soon be shipped around the country in time for release, as with any new banknote it will take time for them to be widely available. Existing $20 banknotes can continue to be used, as all previously issued banknotes remain legal tender.

The Governor noted in his statement to the House of Representatives Standing Committee on Economics that the release is a big logistical exercise, with more than 170 million $20 banknotes in circulation. The Reserve Bank has been working closely with manufacturers and businesses that use cash-handling machines to help them prepare for the new banknotes.

The new $20 banknote features portraits of two Australians known for their enterprise and ingenuity. Mary Reibey was a convict who became a successful businesswoman, and Reverend John Flynn pioneered the Royal Flying Doctor Service. The banknote also includes new security features, such as a rolling colour effect and a top to bottom window included on the new $5, $10 and $50 banknotes issued over the past three years as part of the upgrade of Australia's banknotes. 

It is expected that the $100 banknote will be released next year.

Full details of the design and security features on the new $20 banknote, and other denominations, are available on the Bank's website at banknotes.rba.gov.au.