Bank outlets in Jiangsu province will post a brand new logo on their Automatic Teller Machines (ATM) since August 1. On the logo, which is consistent in style and content across the province, it says “Paper money withdrawn from this machine all have ‘ID number’, which is only used for counterfeit money-related complaint or inquiry”. This means that all Renminbi withdrawn from ATM machines in the province have its ID number recorded in the internal management system of the banks. If one doubts the authenticity of a piece of paper money, he/she can ask for inquiry of its ID number recorded in the bank according to due procedures. The move is first of its kind in the country.
It is learnt that besides ATMs, all financial institutions in Jiangsu province will also have ID number recorded when issuing paper money in large face value (50 and 100 yuan) before Sep 30 this year. In addition, when citizens deposit money in large value into ATM and through bank counter, the note is expected to have its ID number recorded; and a doubt over its authenticity or improper scrawls found on it could be reported to the bank in question which could trace and find the people concerned according to the ID number and related information.
