According to Acting Central Bank Governor Benny Popoitai, the notes in question were, in fact, old notes that were still in circulation.
The validity of the notes in question has also been confirmed via public notice by Bank of PNG, the regulator and wholesale supplier of currency to banks.
In a statement, Kina Bank said they will also be assisting BPNG to circulate these notices to the public through its branch and ATM network.
“Kina Bank branch staff are trained, understand the processes and there are equipment to confirm whether or not a note is genuine,” said the bank.
Customers can call +675 308 3800, toll-free on 180 1525 or email email@example.com
“To help avoid situations like this, we encourage our customers to always choose digital payment options wherever possible,” stated executive general manager banking, Lesieli Taviri.
There are three versions of K100 notes that are currently being circulated by Kina Bank:
- The first series K100 note has a serial number on the side and has 10 different features;
- The second series K100 note has a BPNG logo on it and the serial number is at the bottom of the note; and
- The third series K100 note features the APEC logo and the bird of paradise – this is subtly different from the two notes referenced above.