NEW KING CHARLES BANKNOTES PRINTED

 

New banknotes featuring the image of King Charles are being printed in their millions but will not enter circulation until the middle of next year.

The BBC was given exclusive access to the highly-secure site where notes are being produced for the Bank of England.

The King's portrait will be the only change to existing designs of £5, £10, £20 and £50 notes, and new notes will replace damaged or worn older ones.

However, machines such as self-service tills need to recognise the new image.

That process requires a relatively long build-up, and is why the notes will only be issued in mid-2024 - many months after 50p pieces featuring the King's image were put in use, according to the Bank of England's chief cashier.

Sarah John, whose role means her signature is on the banknotes, said: "There is a lot to do to ensure that machines used up and down the country can accept the banknotes.

"They all need to be adapted to recognise the new design, with software updates, and that takes months and months.

"Otherwise, we will be putting a banknote out there that people simply would not be able to use."

The reverse side of current polymer Bank of England banknotes, which in ascending order feature Sir Winston Churchill, Jane Austen, JMW Turner and Alan Turing, will be unchanged.

 

Where better to test the appetite for embracing the new Charles banknotes than at The King's Head, in Chipping Ongar. The pub has a rich history of its own, named as such because King James II is said to have stayed at a coaching inn on the site during his reign.

Deputy manager Carol Mason said very few customers paid for their drinks with cash now, and they were often from the older generations.

"I started here in 2015 and we noticed the biggest change during Covid when people didn't want to be touching cash," she said.

"They just started using their phones more, their watches more, their credit cards. They just found them easier to use, and they have stuck with it. People have got used to that way of life."

To read the complete article, see:
King Charles banknotes printed - but not ready yet (https://www.bbc.com/news/business-65113330)

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