Banknotes bearing the portrait of King Charles III went into circulation in the United Kingdom on Wednesday, almost two years after he succeeded Queen Elizabeth II as head of state.
“The public will gradually begin to see the new King Charles III banknotes,” the BoE says.
There were new notes Revealed in December 2022, shortly thereafter coins bearing the effigy of Charles III came into circulation. Apart from this change in the image of the king, the design of the banknotes remains unchanged.
The bank has explained that Banknotes with image of RaniWho was the first monarch to appear on British banknotes? will continue to circulate.
“This approach is consistent with the Royal Household’s guidance to minimize the environmental and financial impact of this transition.”
The use of cash in the UK has fallen sharply in recent years as customers prefer debit cards and other electronic payments.
“We are committed to providing standards until the public demands them. The circulation of these new notes is a testament to this commitment,” BoE Governor Andrew Bailey said.
Last year, the British government passed legislation guaranteeing banks immediate access to cash.
