King Charles banknotes enter circulation for first time - here's how to get one

5 June 2024, 06:38 | Updated: 5 June 2024, 07:30

King Charles banknotes have entered circulation
King Charles banknotes have entered circulation. Picture: PA

By Emma Soteriou

King Charles banknotes have entered circulation for the first time - here is how to be one of the lucky few to get your hands on the new design.

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Charles' portrait will appear on all four banknotes - the £5, £10, £20 and £50 - with no other alterations to the existing designs.

They are entering circulation alongside those featuring a portrait of the late Queen Elizabeth II.

However, people may only start to see the new notes appear in their change very gradually.

There are more than 4.6 billion Bank of England notes in circulation, worth about £82 billion.

Read more: King Charles 'threatens to cut ties with Prince Andrew for good' if he refuses to 'downsize' in Royal Lodge row

Read more: Your Hive-ness: The King and David Beckham shared beekeeping tips before footie star appointed to new role

King Charles was presented with the first banknotes in April
King Charles was presented with the first banknotes in April. Picture: Getty

In line with guidance from the Royal Household, the new notes will only be printed to replace those that are worn and to meet any overall increase in demand.

The approach is intended to minimise the environmental and financial impact of the change.

Bank of England boss Andrew Bailey said: "We're very pleased to be issuing the new King Charles banknotes.

"This is a historic moment, as it's the first time we've changed the sovereign on our notes.

"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."

King Charles getting a first look at the notes earlier in the year
King Charles getting a first look at the notes earlier in the year. Picture: Getty

The King was given a first look at the banknotes with his portrait in April.

He praised them as "very well designed" and expressed his surprise at being only the second monarch to feature.

Although the Bank of England started to produce banknotes in the 17th century, Queen Elizabeth II was the first British sovereign to be given the honour in 1960 on a £1 paper note.

How to get a King Charles banknote

People will be able to snap up the new-look currency at a small number of Post Office branches to begin with.

The chosen Post Offices will initially have £5, £10 and £20 denominations of the new banknotes.

The Bank of England has also set up a postal exchange service, running from June 5 to 30, to allow people to obtain a limited amount.

An application form and further details are on the Bank of England's website.

The Bank of England counter at Threadneedle Street in central London will also be issuing new notes featuring the King from June 5 to 11 at the same limit of £300 per customer.

Post Office locations that have King Charles banknotes

Piccadilly Plaza (Manchester), M2 1BB

Sunderland City, SR1 1RR

Portsmouth, PO1 1AB

Birmingham, B2 4AA

The City of London, EC2M 5TE

Moorgate, EC2M 5TE

Broadway, SW1H 0AX

Great Massingham, PE31 6HP

Tetbury, GL8 8DB

Minchinhampton, GL6 9BN

Windsor, SL4 1AA

Houndsditch, E1 7BS

Woodstock, OX20 1SP

Poundbury, DT1 3AZ

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