Bank note company settles pay dispute

Note Printing Australia, the company responsible for Australia's bank notes and a passport security feature, have reached a pay agreement with workers.

The company that makes Australia's bank notes and a passport security feature has come to an agreement with its workforce after acrimonious pay negotiations.

Note Printing Australia, a subsidiary of the Reserve Bank, agreed to five days of domestic and family violence leave, improved casual worker arrangements and an annual 2.5 per cent wage rise for the life of the three-year deal, the Australian Manufacturing Workers' Union announced on Thursday.

The workers had been pushing for the 3.5 per cent increase called for by RBA Governor Philip Lowe to boost household budgets but after NPA agreed on the other key claims, they workers voted up the agreement and ended three months of industrial action.