Beginning Wednesday, banknotes featuring the portrait of King Charles III will be issued for the first time. The new banknotes will co-circulate with those featuring Queen Elizabeth II, and will appear on all denominations – the £5, £10, £20, and £50 notes.
In accordance with guidance from the royal household, the new notes will only be printed to replace worn notes and to meet any overall increase in demand. This approach aims to minimize the environmental and financial impact of the change.
Andrew Bailey, Governor of the Bank of England, expressed his excitement for the release of the new banknotes, stating, “We’re very pleased to be issuing the new King Charles banknotes. This is a historic moment, as it’s the first time we’ve changed the sovereign on our notes. We know that cash is important for many people, and we are committed to providing banknotes for as long as the public demand them. Bringing these new notes into circulation is a demonstration of that commitment.”
In April, King Charles III was presented with the first banknotes bearing his portrait and praised their design. This marks the first time a British sovereign has been featured on banknotes, with Queen Elizabeth II being the first to receive this honor with the £1 note in 1960.
The public will be able to obtain the new banknotes from selected Post Office branches. The Bank of England has established temporary facilities to allow individuals to exchange worn notes for the new King Charles III banknotes, with a limit of £300 per customer. Applications and further details can be found on the Bank of England’s website.
A list of Post Office branches where the new notes will be available on the launch day, including locations and postcodes, can be found below:
– Piccadilly Plaza (Manchester), M2 1BB– Sunderland City, SR1 1RR– Portsmouth, PO1 1AB– Birmingham, B2 4AA– The City of London, EC2M 5TE– Moorgate, EC2M 5TE– Broadway, SW1H 0AX– Great Massingham, PE31 6HP– Tetbury, GL8 8DB– Minchinhampton, GL6 9BN– Windsor, SL4 1AA– Houndsditch, E1 7BS– Woodstock, OX20 1SP– Poundbury, DT1 3AZ