New banknotes featuring the image of King Charles will enter circulation within months.
The King will feature on £5, £10, £20 and £50 notes issued from June 5th 2024.
Notes bearing the image of Queen Elizabeth II will remain as legal tender and will continue to be used until they are worn and no longer viable.
The changeover to money showing King Charles has been phased in as the Royal Household wanted to minimise cost and environmental impact at the start of the new reign. Some coins bearing the Monarch’s image have already entered circulation.
The portrait of His Majesty will feature on one side of the notes but all other parts of the current designs will remain the same including the famous people seen on the reverse sides of notes.
The image of The King will also feature in cameo on the see through security window.
The Bank of England has advised businesses that the new notes will feature all the same security measures as those currently in circulation. However, it is advising those firms responsible for machines that receive, dispense or sort notes to start making plans now to adapt to the new notes as well as the current ones.
The new money will enter circulation naturally but anyone who wishes to exchange a small amount of Queen Elizabeth II notes for King Charles III notes will have a brief window to do so through the Bank of England with more details revealed closer to the release date.
