Banks recalibrate ATMs for new Zambian banknotes

The Bankers Association of Zambia (BAZ) has announced that all Automated Teller Machines (ATMs) across the country have been recalibrated following the introduction of Zambia’s new banknotes by the Bank of Zambia (BoZ).

BAZ Chief Executive Officer, Leonard Mwanza, said on Monday that commercial banks had been working behind the scenes to ensure that all note-counting and detecting machines were updated to recognise the security features of the new currency.

“So, we have been working in the background ensuring that all note counting and detecting machines are recalibrated across the country, across the branch network, and that has been done,” Mwanza said.

“We have worked to ensure that the ATMs are recalibrated, still ongoing on the deposit side, but we are ready in terms of ensuring that the equipment across all branch networks are in a position to recognise the security features in the new currency.”

Mwanza further stated that commercial banks had trained employees on how to identify the security features, ensuring smooth implementation across all branches.

“We have ensured that all staff across the branch network have been trained on how to identify various security features, so starting from now, all the branches across the country have the end currency, they will start the exchange,” he said.

He explained that while the K10, K20, K200, and K500 denominations were now available in bank branches, the K50 and K100 notes will be introduced later.

“As guided, the K50 and K100 will come in later but now K10, K20, K200 and K500 are available across all branches, and this process will continue until the next one year. The banks are there to ensure the smooth process of cash exchange,” Mwanza said.

The recalibration of banking systems and the phased introduction of new notes are part of BoZ’s broader currency update aimed at enhancing security and improving usability.

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