King Charles III banknotes to enter circulation from June 2024

Banknotes carrying a portrait of King Charles III will enter circulation from June 2024, the Bank of England has confirmed.

From 5th June 2024, banknotes with a portrait of the King will appear on the £5, £10, £20, and £50 notes. No other changes to the design will be made. Polymer banknotes featuring Her late Majesty Queen Elizabeth II will remain in circulation, with new notes only printed to replace those being withdrawn due to wear or to meet increased demand.

The King’s image will appear on the front of the banknotes, as well as in cameo in the see-through security window. Notes will also continue to use the same security features as existing Queen Elizabeth II banknotes notes.

The phased in approach to issuing the new notes follows guidance form the Royal Household to minimise the environmental and financial impact of the changeover, and means the public will only gradually begin to see the new King Charles III banknotes in circulation.

A series of charity auctions of low-serial numbered notes will be held over the summer at Spink & Son, alongside a ballot to purchase a set of notes. Members of the public will also be able to exchange Queen Elizabeth II banknotes for King Charles III banknotes through the Bank of England.