{"id":303374,"date":"2019-03-05T12:32:39","date_gmt":"2019-03-05T10:32:39","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=303374"},"modified":"2019-03-05T12:32:39","modified_gmt":"2019-03-05T10:32:39","slug":"one-of-the-worlds-most-valuable-and-controversial-banknotes-has-been-revamped","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/banking\/303374\/one-of-the-worlds-most-valuable-and-controversial-banknotes-has-been-revamped\/","title":{"rendered":"One of the world\u2019s most valuable and controversial banknotes has been revamped"},"content":{"rendered":"<div class=\"article-content\">\n<p>The Swiss National Bank has revamped its most controversial banknote, with state-of-the-art security features and a theme of communication.<\/p>\n<p>The new 1,000 franc ($1,000) note &#8211; which goes into circulation on March 13 &#8211; shows a handshake and Switzerland\u2019s parliament.<\/p>\n<p>Switzerland\u2019s highest-denomination bill has raised eyebrows among the likes of former U.S. Treasury Secretary Larry Summers, who argue big banknotes aid illegal enterprise.<\/p>\n<p>The unveiling of the new note also comes just weeks after the European Central Bank stopped the issuance of its top denomination 500-euro ($566) note in a crack down on crime. Yet the SNB says its big bills regularly get used for commonplace payments.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p dir=\"ltr\" lang=\"en\">The new 1000-franc note <a href=\"https:\/\/t.co\/6uxJJogGIM\">https:\/\/t.co\/6uxJJogGIM<\/a> <a href=\"https:\/\/t.co\/eMyeenD0Od\">pic.twitter.com\/eMyeenD0Od<\/a><\/p>\n<p>\u2014 Swiss National Bank (@SNB_BNS_en) <a href=\"https:\/\/twitter.com\/SNB_BNS_en\/status\/1102858446355996672?ref_src=twsrc%5Etfw\">March 5, 2019<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>\u201cThere\u2019s no indication that these risks are larger,\u201d for high denomination notes, SNB Vice President Fritz Zurbruegg said at a press conference in Zurich on Tuesday. \u201cIn Switzerland the 1,000 franc banknote is used as a means of payments.\u201d<\/p>\n<p>Here are some facts about Switzerland\u2019s banknotes and its citizens\u2019 love of cash.<\/p>\n<p>While in countries like Sweden, where bank branches have stopped handling cash and even church parishes have begun taking donations via mobile app, in Switzerland cash is still popular, with the amount in circulation actually increasing.<\/p>\n<p><a  data-lightbox=\"post-image\" href=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2019\/03\/SwissFranc2.png\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-303382\" src=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2019\/03\/SwissFranc2.png\" alt=\"\" width=\"1296\" height=\"870\" srcset=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2019\/03\/SwissFranc2.png 1296w, https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2019\/03\/SwissFranc2-300x201.png 300w, https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2019\/03\/SwissFranc2-768x516.png 768w, https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2019\/03\/SwissFranc2-1024x687.png 1024w, https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2019\/03\/SwissFranc2-1200x806.png 1200w\" sizes=\"auto, (max-width: 1296px) 100vw, 1296px\" \/><\/a><\/p>\n<p>Switzerland\u2019s banknotes are produced by Zurich-based printer Orell Fuessli, which is celebrating its 500th anniversary this year. Issuance of bills with a face value of 1,000 francs started with the SNB\u2019s fourth banknote series in 1938.<\/p>\n<p>A questionnaire conducted in 2017 found cash is still frequently used, despite the advent of apps and other electronic, for settling both large and small bills.<\/p>\n<p><a  data-lightbox=\"post-image\" href=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2019\/03\/SwissFranc.png\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-303378\" src=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2019\/03\/SwissFranc.png\" alt=\"\" width=\"1296\" height=\"912\" srcset=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2019\/03\/SwissFranc.png 1296w, https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2019\/03\/SwissFranc-300x211.png 300w, https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2019\/03\/SwissFranc-768x540.png 768w, https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2019\/03\/SwissFranc-1024x721.png 1024w, https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2019\/03\/SwissFranc-1200x844.png 1200w\" sizes=\"auto, (max-width: 1296px) 100vw, 1296px\" \/><\/a><\/p>\n<p>About 40% of those surveyed said they\u2019d held a 1,000 franc note in the last one or two years. For 200 franc bills, the figure rose to more than 60%.<\/p>\n<p><a  data-lightbox=\"post-image\" href=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2019\/03\/SwissFranc1.png\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-303380\" src=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2019\/03\/SwissFranc1.png\" alt=\"\" width=\"1296\" height=\"802\" srcset=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2019\/03\/SwissFranc1.png 1296w, https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2019\/03\/SwissFranc1-300x186.png 300w, https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2019\/03\/SwissFranc1-768x475.png 768w, https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2019\/03\/SwissFranc1-1024x634.png 1024w, https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2019\/03\/SwissFranc1-1200x743.png 1200w\" sizes=\"auto, (max-width: 1296px) 100vw, 1296px\" \/><\/a><\/p>\n<hr \/>\n<p><strong>Read:<a href=\"https:\/\/businesstech.co.za\/news\/wealth\/239439\/5-of-the-most-valuable-bank-notes-in-the-world\/\" target=\"_blank\" rel=\"noopener noreferrer\">5 of the most valuable bank notes in the world<\/a><\/strong><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The Swiss National Bank has revamped its most controversial banknote, with state-of-the-art security features and a theme of communication.<\/p>\n","protected":false},"author":59,"featured_media":303376,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[961],"tags":[26],"class_list":["post-303374","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-banking","tag-headline"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/303374","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/59"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=303374"}],"version-history":[{"count":1,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/303374\/revisions"}],"predecessor-version":[{"id":303384,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/303374\/revisions\/303384"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/303376"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=303374"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=303374"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=303374"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}