An empty station homestead in drought-stricken outback New South Wales may look unassuming but has gained renown as an image featured on the new $20 banknote.

Veldt Station looked a little different in 1948, when it was occupied by the Barlow family and photographed by the Royal Flying Doctor Service in a promotional photoshoot.

Now, more than 70 years on, members of the Barlow family were taken on a nostalgic RFDS flight, circling low over the property, in celebration of its newfound fame.

A photograph from that 1948 photoshoot of an RFDS De Havilland Dragon flying over the station, 170 kilometres north of Broken Hill, was selected to appear on the $20 banknote beside a portrait of the health service's founder, Reverend John Flynn.

The portraits on the banknote have not changed — like the existing design, the new $20 note also features former convict-turned-merchant and ship owner Mary Reibey.

Locals are pleased their region is being immortalised on the new $20 note. ( ABC Rural: Saskia Mabin )

Assistant Governor of the Reserve Bank, Lindsay Boulton, said the theme of the note was ingenuity and entrepreneurship.

"We're very proud to have two people who've made a fantastic contribution to Australian society and economy over the last couple of hundred years," he said.

"Mary Reiby was a convict who became a very successful businesswoman with a shipping company and of course, John Flynn established the first aerial medical service in the world."

Cutting edge security features

Designing the new banknote was an elaborate process involving updating the design and incorporating advanced security features to prevent counterfeiting.

Mr Boulton said the new banknote was protected in numerous overt and covert ways.

The Barlow family looks up as the RFDS De Havilland Dragon departs Veldt Station in 1948. ( Supplied: RFDS )

"Principal among [the new security features] is a clear window that runs from the top to the bottom of the note," he said.

"Within that window are some dynamic images in the sense that when you tilt the banknote, it gives the appearance of movement.

"In some cases, it's a flapping of wings for the bird that's featured on the note, in another case it's a movement in colour."

The banknote also includes a microprint passage from Reverend Flynn's book The Bushman's Companion and, like the new $5 and $10 banknotes, has a tactile feature allowing people with poor vision to distinguish notes of different denominations.

Childhood memories of flying doctor

Ms Bates remembers the RFDS being an important part of life growing up in the outback.

She and her siblings were among the first to receive vaccinations from the flying doctor.

The new $20 note features Reverend John Flynn and the RFDS flight over Veldt Station in 1948. ( Supplied: RBA )

"Dad was very for immunisation and the flying doctor came to the Veldt with the nurse," Ms Bates said.

"She lined us all up, there was eight of us there at the time, and I've got a photo.

"We're all standing holding our arms out like chickens; we weren't hurt but we thought we were because we'd never even known what immunisation was."

Ms Bates was 10 years old on the day the RFDS visited Veldt Station to take promotional photographs.

"I can remember the plane coming over very low because the pilot told us that it was not legal at the height that he flew but he did it just for the photo," Ms Bates recalled.

"Dad said 'now be careful of that aerial, be careful of that aerial' and dad's in the photo holding a hat up and we're all sure that that's what he's saying."

Far west in the spotlight

Although nobody lives in the homestead at Veldt Station anymore, the land is owned and used by the O'Connor family.

Jim O'Connor, who bought the station from the Barlows, said knowing the station features on 140 million new $20 banknotes "feels like a milestone".

His son Mark O'Connor, who lives at Nundooka Station, 50 kilometres south of Packsaddle Roadhouse, said having Veldt Station on the banknote was special for the whole region.

"It's a pretty good recognition of our area I think, and what our area has had to do with the flying doctor and why our charities support it ... just a nice token," he said.