BANKNOTES FEATURING KING CHARLES WILL BEGIN CIRCULATING ON JUNE 5

Wed 21 February 2024:

On June 5, banknotes featuring the king’s portrait will be released for the first time, the Bank of England has said.

There will be no modifications made to the current designs of the £5, £10, £20, and £50 banknotes; instead, the portrait of Charles will remain present.

The late Queen Elizabeth II’s portrait on polymer banknotes will continue to be accepted as legal tender and will be circulated alongside King Charles III’s notes.

The new banknotes will only be printed to replace those that are worn, and to meet any overall increase in demand for banknotes.

The Bank of England said its approach is in line with guidance from the Royal Household, to minimize the environmental and financial impact of this change.

This means that people will start to see the new King Charles banknotes in their wallets very gradually.

Images of the new King Charles banknotes were first unveiled in December 2022.

The king’s image will appear on the front of the banknotes, as well as in cameo in the see-through security window.

Although the notes that enter circulation on June 5 will feature a new portrait of the monarch, the reverse side of each note will remain unchanged.

People will be able to exchange Queen Elizabeth II banknotes for King Charles banknotes through the Bank of England, although certain restrictions will apply. The bank said further details about this will be provided closer to the time.

SOURCE: INDEPENDENT PRESS AND NEWS AGENCIES

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