It will mark the first time that the sovereign has been changed on the Bank of England’s notes.
The portrait of Charles will appear on all four banknotes – the £5, £10, £20 and £50 – with no other alterations to the existing designs.There are more than 4.6 billion Bank of England notes in circulation, worth about £82 billion.
“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.”He praised them as “very well designed” and expressed his surprise at being only the second monarch to feature.
Karen Stonham, branch manager at the Portsmouth Post Office, which is also among the initial branches to stock the new notes, said: “Our local customers come into our branch every day to withdraw or deposit cash for their daily needs, so we were excited to be one of the first branches to have the new banknotes available.”
Ross Borkett, banking director at the Post Office, said: “This historic launch of the new banknotes featuring King Charles III comes as we experience the highest levels of cash withdrawals and deposits in Post Office branches. The Bank of England has put temporary facilities in place to allow people to obtain a limited amount of the King Charles III banknotes.
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