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The new five-euro banknotes put into circulation at the beginning of May are legal tender that stores are required to accept, the Bank of Estonia said in a reminder to tradesmen.
Bank of Estonia: Stores must accept new five-euro banknotes
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The central bank and the press have received reports of stores' refusal to accept new five-euro notes because their banknote authentication devices do not recognize it. A store is obliged to accept legal tender and if its authentication machine is out of order or not upgraded for the new five-euro note there are simpler methods to check whether a banknote is counterfeit or genuine, the bank said.
An image of the Greek mythological figure Europa appears as a watermark and a hologram on the note. The hologram strip also features the number 5 and the symbol for the euro. An emerald-colored 5 in the corner of the banknote changes color from green to deep blue when the note is tilted, and there are raised lines on both edges of the note.
Although the overall design of the new note is the same as that of the first series of euro banknotes, it has new and stronger security elements. The portrait of Europa will be the common feature of all banknotes of the second series that are to be introduced gradually over the coming years.