The first U.K. banknotes featuring the portrait of King Charles III are going into circulation and will coexist alongside those featuring his late mother, Queen Elizabeth II
A person holds some of the newly released banknotes, featuring the portrait of King Charles III, outside the Bank of England, London, Wednesday June 5, 2024. People have been queuing Wednesday outside the Bank of England's headquarters in London and at post offices around the U.K. to get their hands on the first U.K. banknotes featuring the portrait of King Charles III.
Though cash payments have declined over the years, they remain particularly important for lower income households and those who get welfare benefits at their local Post Office. In 2023, legislation was passed as part of to protect access to cash. There are more than 4.6 billion Bank of England notes in circulation, worth about 82 billion pounds .
In April, Charles was presented with the first banknotes bearing his portrait and praised them as “very well designed” while expressing his surprise at being only the second monarch to feature on them.
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Portrait of King Charles III start to be rolled out on banknotes across the U.K.People have been queuing Wednesday outside the Bank of England's headquarters in London and at post offices around the U.K. to get their hands on the first U.K. banknotes featuring the portrait of King Charles III.
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Banknotes bearing portrait of King Charles III start to be rolled out across the UKThe first U.K. banknotes featuring the portrait of King Charles III are going into circulation and will coexist alongside those featuring his late mother, Queen Elizabeth II. The portrait of the king will appear on all four banknotes issued by the Bank of England — 5, 10, 20 and 50 pounds — with no other alterations to the existing designs.
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King Charles III banknotes enter circulation for the first timeSophie Kiderlin is a reporter for CNBC Make It and CNBC International.
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King Charles banknotes enter circulation for the first timeBanknotes featuring a portrait of King Charles III entered circulation on Wednesday for the first time, the Bank of England said in a statement.
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King Charles banknotes enter circulation for the first timeBanknotes featuring a portrait of King Charles III entered circulation on Wednesday for the first time, the Bank of England said in a statement.
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