New King Charles III Bank of England notes get June date to enter circulation

Bank of England notes with the portrait of King Charles III will make it into purses and wallets across Britain from June 5.

From Summer £5, £10, £20 and £50 notes will feature the King’s image alongside their current designs.

Currently, the £5 note features the politician Sir Winston Churchill, the £10 note features Jane Austen, the £20 note features artist JMW Turner and the £50 note features Alan Turing.

Bank notes that feature the portrait of Her late Majesty, Queen Elizabeth II will remain legal tender and will co-circulate alongside King Charles III notes.

The new notes will only be printed to replace those that are worn and to meet any overall increase in demand for banknotes.

The Band of England stated: “Our approach is in line with guidance from the Royal Household, to minimise the environmental and financial impact of this change.”

This means Britons will only see the new notes enter circulation gradually.

Members of the public will also be able to exchange a limited value of current or old series notes for new King Charles III notes, through the Bank of England, for a short time from the June 5, 2024 issuance date.

A charity auction for a run of the new notes which are "low-serial numbered" will also be held over the summer by Spink & Son.

The notes were designed in collaboration between the Bank of England and De La Rue, and feature the King's image as a portrait on the front as well as in the see-through security window on the back.