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Banknotes featuring a portrait of King Charles III have been issued for the first time today (Wednesday, June 5).

The portrait of the King will appear on existing designs of all four banknotes (£5, £10, £20 and £50), with no other changes to the design.

Banknotes featuring the portrait of Her late Majesty Queen Elizabeth II will remain legal tender and are co-circulating alongside King Charles III banknotes.

The public will begin to see the new King Charles III banknotes very gradually. This is because 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, to minimise the environmental and financial impact of this change.

Bank of England’s Governor Andrew Bailey said:

“We’re very pleased to be issuing the new King Charles banknotes. This is a historic moment, as it’s the first time we’ve changed the sovereign on our notes. We know that cash is important for many people, and we are committed to providing banknotes for as long as the public demand them. Bringing these new notes into circulation is a demonstration of that commitment.”

For more information on the King Charles banknotes, please see here: https://www.bankofengland.co.uk/banknotes/king-charles-banknotes

What this means for your business
You can check these banknotes in the same way you can check polymer banknotes featuring Queen Elizabeth II. The design of the banknotes remains the same as the banknotes featuring Queen Elizabeth II. The King’s image will appear on the front of the banknotes, as well as in the see-through security window.

You will still be able to use and accept polymer banknotes that feature the portrait of Queen Elizabeth II. Banknotes featuring Queen Elizabeth II and King Charles III are in circulation at the same time.

How to check the new banknotes
The process of checking the new banknotes is the same. If your business uses a machine to accept or check banknotes, you need to have completed relevant machine updates before June 5th.

If you don’t have a banknote checking machine, the Fed has negotiated some fantastic pricing on a range of Safescan products.

This includes the Safescan 155-S Automatic Detector that’s available exclusively to Fed members for just £76.30 excluding VAT and shipping.

This machine can verify the new King Charles III banknotes and pre-existing ones, as well as detecting fake banknotes that are not picked up by UV detectors alone.

To place your order, visit www.safescan.com/TheFed and enter your iMiS code and email address to see the fantastic deals or contact the Contact Centre at 0207 017 8880.

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