Bank of England Unveiled New Bank Notes Featuring King Charles III

Today, December 20, The Bank of England unveiled new banknotes featuring His Majesty King Charles III. These new banknotes are expected to enter circulation in the United Kingdom by mid-2024.

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.

New banknotes featuring King Charles III. Credit: The Bank of England

In a statement, The Bank of England said, "We unveiled the design of our King Charles III banknotes on 20 December 2022. The King’s portrait will appear on all four of our polymer banknotes (£5, £10, £20, and £50). The rest of the design on the banknotes will remain the same. The King’s image will appear on the front of the banknotes, as well as in the see-through security window"

According to The Bank of England, all polymer banknotes carrying a portrait of HM Queen Elizabeth II will remain legal tender, and the public can continue to use these as normal. Banknotes featuring Queen Elizabeth II and the King will also be in circulation at the same time. 

Banknotes featuring Queen Elizabeth II. Credit: The Bank of England

To minimize the environmental and financial impact of the changes, and in line with the guidance from the Royal Household, the new banknotes will only be printed to replace worn banknotes and to meet the increase in demand for banknotes.

Speaking ahead of the release, Governor Andrew Bailey said: “I am very proud that the Bank is releasing the design of our new banknotes which will carry a portrait of King Charles III. This is a significant moment, as The King is only the second monarch to feature on our banknotes. People will be able to use these new notes as they start to enter circulation in 2024".

Queen Elizabeth II was the first British monarch to be featured on UK's banknotes in 1960, making King Charles III the second British monarch, and the first British king, to appear on banknotes issued by The Bank of England.

The Bank of England is the central bank of the United Kingdom established in 1694 with the purpose to act as the English Government's banker. 

The Bank of England is one of eight banks authorized to issue banknotes in the United Kingdom. It has a monopoly on the issue of banknotes in England and Wales and regulates the issue of banknotes by commercial banks in Scotland and Northern Ireland.

While coins in the United Kingdom are being issued by The Royal Mint.