Timaru Police have arrested a 31-year-old man in relation to an ongoing counterfeit money investigation.

It comes after members of the public contacted police saying they had come into possession of counterfeit $50 notes over the past few days.

The man has been charged with possesses forged bank notes and is due to appear in the Timaru District Court next week. 

Police are not ruling out further charges. 

Police are reminding businesses and individuals to be vigilant when possessing cash, particularly $50 and $100 denominations.

They say counterfeit notes have a distinctive paper feel as opposed to genuine bills which are made of tear resistant polymer.

Counterfeit bills also have irregularities with the clear window in the note, which if examined carefully is recognisable.