New Canadian $20 bill not accepted everywhere

Canadians across the country are finding those crisp new $20 bills might not be accepted everywhere.

The new polymer bill went into circulation earlier this month, but consumers looking to use the country's most widely used banknote are finding certain machines can't process their money.

CBC News has learned that ticket vending machines for Vancouver's TransLink and Toronto's GO Transit both don't accept the new bill, which was revamped by the Bank of Canada to elude counterfeiters.

GO Transit said it discovered the glitch after testing the bills, and their "machines will need a software upgrade in order to accept the new bills."

The Bank of Canada has said the new polymer notes are more secure and durable than earlier bills. The $20 bill is the third note to get a makeover, following on the heels of the $100 and $50 bills released earlier this year.

It's expected that machines similar to the transit ticket systems will also have to be upgraded to accept the polymer bills, but what's not clear is if that cost will be passed on to consumers.

The Royal Canadian Mint created a headache to the tune of $40 million for the vending industry earlier this year when it released lighter versions of the loonie and toonie.

New plastic $5 and $10 notes are scheduled to be issued by the end of 2013.

 

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