(London) Banknotes bearing the image of King Charles III will appear in British wallets on Wednesday, gradually replacing those bearing the portrait of his mother Elizabeth II.
The portrait of King Charles will appear on the new 5.10, 20 and 50 pound sterling notes, which will otherwise remain similar to current notes, the Bank of England said in a statement on Tuesday.
These new polymer notes – which have gradually replaced paper money in the UK since 2016 – will circulate alongside those featuring the portrait of Queen Elizabeth II.
They will be printed little by little to “replace those that are worn out”, specifies the press release, in order to “minimize the environmental and financial impact” of the change of monarch.
These new banknotes will join the coins bearing the image of Charles III, which entered circulation in December 2022, a few months after the death of his mother.
From Wednesday, members of the public will also be able to exchange their old banknotes for those bearing the image of Charles III at the Bank of England, up to a limit of £300 per person.