¢20.000 Note To Be In Use On August 11
The new ¢20.000 colones note is ready and will be on the streets on August 11, says the Banco Central, who will be distributing to the banks and financial institutions some 10 million notes beginning next week. In total the Banco Central ordered the printing of 30 million of the ¢20.000 colones notes.
Roy González, general manager of the Central Bank, says the 10 million notes will sufficient for the financial institutions for their needs for the coming year.
However, don’t be looking for the new bills at automated teller machines (ATM), as the banks will need time to calibrate the machines to recognized and dispense the new paper.
One of the problems faced by the banks is the size of the new bills, they are smaller than the “traditional” notes currently in use.
In fact, all the new bills will be of different sizes, from the smaller ¢1.000 note to the largest ¢50.000 note when the complete changeover is complete in the coming years.