The Bank of England has unveiled the design of the King Charles III banknotes. The portrait of the King will appear on existing designs of all four polymer banknotes - £5, £10, £20 and £50 - with no other changes to the existing designs, the bank said.
The King’s image will appear on the front of the banknotes, as well as in the see-through security window. The bank said the new notes were expected to enter circulation by mid-2024.
It also confirmed that all polymer banknotes carrying a portrait of HM Queen Elizabeth II remain legal tender and the public can continue to use these as normal. In line with guidance from the Royal Household, to minimise the environmental and financial impact of this change, new notes will only be printed to replace worn banknotes and to meet any overall increase in demand for banknotes, the bank said. This means that notes featuring HM Queen Elizabeth II and King Charles III will therefore co-circulate.
