The new banknotes featuring the image of King Charles III will enter circulation in mid-2024.

(taken from BBC official website)

[Financial Channel/Comprehensive Report] The Bank of England has launched a new banknote bearing the image of King Charles III.

The portrait will appear on the design of the £5, £10, £20 and £50 notes, which will enter circulation in mid-2024.

The obverse and transparent security of the new banknotes will feature the king's likeness.

Stores will still accept existing notes after the new notes come into circulation.

There are currently around 4.5 billion Bank of England notes in circulation, worth around £80 billion.

Please read on...

From 1960, Queen Elizabeth was the first and only monarch to appear on Bank of England banknotes.

The sovereign is not depicted on banknotes issued by the Bank of Scotland and Northern Ireland.

Under royal guidance, new notes will only be printed to replace old notes or to meet increased demand, minimizing environmental and financial impact.

Andrew Bailey, Governor of the Bank of England, said he was proud of the important moment for the new design.

In addition, 50p coins featuring King Charles' face have been circulated through post offices across the country, with an estimated 4.9 million new coins distributed to post offices.

Coins featuring the late Queen's face will still be accepted in shops like banknotes.

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