Out now! The new King Charles III banknotes.

It's time! The Bank of England has officially released its new banknotes featuring King Charles III. Learn more about the banknotes, their distribution plan, and how you can process them, so you are ready when they hit your cash drawer.

Recognising the banknotes

All four denominations (£5, £10, £20, £50) have been renewed and now feature portraits of King Charles III. Besides the new portrait, the banknotes do not contain any other visible changes. This means that their colour, layout, and back designs remained as they were. Making it easy to recognise and process them. The previous banknote versions, featuring late Queen Elizabeth II, will remain legal tender and run alongside the new banknotes, which will be slowly distributed to the public.

Distributing the banknotes

The bank will only release the new King Charles III banknotes to replace damaged notes, and meet any increasing demand. This ensures a limited environmental and financial impact. It also means that it might take some time before you will actually receive one of the new notes. Giving you plenty of time to prepare.

Want to be one of the first to have the new banknotes? During the month of June you can exchange up to £300 worth of your current notes for new ones. You can do so via the postal service of the Bank of England, or via their counter at Threadneedle Street. Please note that you can only apply for the postal service with an address located in the United Kingdom.

Processing the banknotes

Even though it might take some time before you receive the new King Charles III banknotes, it is still important that you prepare yourself, your team, and your equipment for their arrival.

Updating your Safescan device is very straightforward and more importantly, completely free. Simply visit our website and select your device. Then all you have to do is download the correct update package and follow the included instructions to install it. It's that easy!

Please note that you do not have to update your device if you have the Safescan 35, 40H, 40, 45, 50, 70, 85, 235, 1250, 1550, 2210, 2250, 2265, 2610, 2650, 2850, 6165, 6175, or 6185. These solutions are not affected by the change or are already fully compatible with the new notes and able to check, count, and process them.

If you are looking to upgrade your device, or invest in an additional solution, now is the time to do so. If you order your solution now, it will already be fully compatible with the new banknotes. No updates needed! You can even enjoy an exclusive 10% discount by scrolling down on your desktop and subscribing to our newsletter!

The following source has been consulted and used as a reference in this article:
https://www.bankofengland.co.uk/banknotes/king-charles-banknotes
https://www.bankofengland.co.uk/news/2024/february/king-charles-iii-banknotes-to-enter-circulation-on-5-june-2024