Bachus works throughout the UK and Overseas providing clients with the finest and most reliable currency, coin and cash handling equipment at very competitive prices. We also offer our consultancy services world-wide providing specialist advice and guidance in all aspects of cash-handling.
Based in the south of England, Bachus was established in 2005, specialising in all aspects of currency processing from large cash centres to small retail establishments. Our professional and vastly experienced team have been working in the cash industry for over 50 years, providing sales and service. With this in mind we have the skills, capabilities and expertise to meet any requirements and provide expert support and service at all times.
Our clients appreciate the level of of customer service they receive from Bachus. Our professionalism, dedication and customer focus are second to none and we have worked and supplied a variety of clients, including Travelex, American Express, Brinks, Bank of America, Bank of Ireland and a number of foreign banks as well as the retail industry.
Having worked in the industry for many years we developed strong working relationships with some of the worlds leading suppliers and manufacturers. By working alongside these companies, we can provide you with the most suitable equipment for very affordable prices, all the while remaining steadfast in our commitment to excellent service.
The Bank of England is responsible for providing banknotes that the public can use with full confidence that they are genuine. As part of this objective, the Bank monitors the incidence of counterfeit Bank of England banknotes by recording the number of counterfeits removed from circulation. During 2018 the number of counterfeit Bank of England banknotes taken out of circulation was around 461,000, with a face value of £10 million.
The vast majority of counterfeits are discovered within the bankning system when they are separated from genuine banknotes during the sorting process. They are also taken out of circulation when the public or retiailers hand them in to the police or banks. Compared with the average number of 3.8 billion genuine banknotes in circulation, the incidence of counterfeiting still remains very low.
(source: Bank of England)
Banknote checking advice
You should make sure all staff know what to do if they suspect a banknote is counterfeit. Counterfeiters will target businesses where they know that banknotes aren't checked properly.
You can make manual checks quickly and easily using the banknote security features. Don't rely on checking just one security feature; check a few.
Retailers and businesses are invited to join the Bank of England Banknote Checking Scheme, which promotes increased banknote checking through targeted education and training.
Hints and tips for retailers
Be aware that people trying to use counterfeit banknotes will often try to buy a low-value item using a high value note such as a £20 note. This is so that they can get away with your stock and money from your till.
Will a UV lamp check that a banknote is genuine?
A good quality ultra violet (UV) lamp that emits light at around 365 nanometers is best for checking the fluorescent feature on the £5, £10, £20 and £50 notes. The use of LED (Light Emitting Diode) devices (such as key fob type detectors) is not recommended as the majority of these emit light at greater than 365 nanometers.
'I use a "detector pen" to check that banknotes are genuine'
The pens work by reacting with the starch that is present in 'normal' wood pulp. So, whilst they can detect some (but not all) counterfeits printed on paper, they won't detect counterfeits printed on polymer.
The following guidelines are provided as industry best practice if you discover a banknote is counterfeit.
If you are handed a banknote that you suspect is counterfeit, keep it and ask for another form of payment if you feel safe to do so. If the circumstances are suspicious - i.e. you suspect that the customer is knowingly trying to pass a counterfeit banknote - call the police and hand the note to them. If it is not suspicious, provide the customer with a receipt. Depending on your company policy, you can send the banknote to the Bank of England via your own bank or directly to them using their counterfeit reporting form.
If your staff feel at risk they should refuse the note but not keep it, and ask for another form of payment instead. They should report the incident internally as per your company's policy.
If you discover a counterfeit banknote during your daily cashing-up process and the circumstances are not suspicious or if there is no evidence linking it to a specific customer (e.g. CCTV footage or scorecard details), again follow your company policy and either take it to your bank or send directly to the Bank of England using their form. In suspicious circumstances or if there is evidence linking the customer to the transaction, please contact the police for advice first. Banknotes that are to be given to the police should be bagged and handled by as few people as possible, as they could provide a source of forensic evidence.
The police and banks send counterfeit banknotes to the Bank of England for analysis. The Bank of England will issue you with a receipt for any counterfeit banknotes you send to them, and you will be reimbursed for any that turn out to be genuine.
For more information, you can contact the Bank of England on +44 (0)20 3461 4878.
(source: The Bank of England)