Today marks a significant moment for British currency as banknotes featuring the portrait of King Charles III enter circulation, marking the first time in history that the sovereign has been changed on Bank of England notes.

The new notes will co-circulate alongside those featuring Queen Elizabeth II, with the public expected to gradually notice their appearance in their daily transactions. In line with guidance from the Royal Household, the new notes will only be printed to replace worn-out currency and to meet increased demand.

King Charles III’s portrait will adorn all four denominations of banknotes – £5, £10, £20, and £50 – without any other alterations to the existing designs. Bank of England Governor Andrew Bailey expressed the institution’s commitment to providing banknotes as long as there is demand, emphasizing that the introduction of the new notes is a testament to that commitment.

While the Bank of England has been producing banknotes since the 17th century, Queen Elizabeth II was the first British sovereign to feature on a banknote in 1960, on a £1 paper note.

Selected Post Office branches across the country will initially offer the new banknotes, with thousands of branches set to receive them over the coming days and weeks. The locations and postcodes of these branches have been provided for the public’s convenience.

Ross Borkett, banking director at the Post Office, highlighted the historic nature of the launch, coinciding with high levels of cash transactions in their branches. The Post Office aims to provide customers with the opportunity to withdraw the new notes.

While banknotes featuring Queen Elizabeth II remain legal tender, those interested in obtaining the new banknotes can do so through various channels provided by the Bank of England. These include a postal exchange service and in-person visits to the Bank of England counter at Threadneedle Street in London.

Visitors to the Bank of England Museum had a sneak peek at the new banknotes in its Future Of Money exhibition before they entered circulation. This initiative aims to familiarize the public with the new currency.

As the new banknotes featuring King Charles III begin to circulate, they mark a significant milestone in British currency history, blending tradition with modernity in the nation’s financial landscape.