King Charles polymer banknotes enter circulation

The Bank of England today begins issuing banknotes carrying a portrait of His Majesty King Charles III. The portrait of the King and his cipher will appear on all four banknotes (£5, £10, £20 and £50), with no other changes to the existing designs.

Designed in partnership with the Bank of England and printed by De La Rue on SAFEGUARD® polymer substrate these notes will co-circulate with the existing Queen Elizabeth banknotes.

The new banknotes will only be printed to replace those that are worn, and to meet any overall increase in demand for banknotes. This approach is in line with guidance from the Royal Household, aimed to minimise the environmental and financial impact of this change.