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King Charles III banknotes unveiled We unveiled the design of our King Charles III banknotes on 20 December 2022. The Kings portrait will appear on all four of our polymer banknotes (5, 10, 20 and 50). The rest of the design on the banknotes will remain the same.
If you find old paper notes in your wallet or around the house dont throw them out. All genuine banknotes that have been withdrawn from circulation can be swapped for a newer equivalent, as they still retain their face value, the Bank of England explained. You are able to swap notes at banks and some post offices.
The pound sterling banknotes in current circulation consist of Series G Bank of England notes in denominations of 5, 10, 20 and 50.
This note replaces our paper 20 note which was withdrawn from circulation after 30 September 2022. You may be able to deposit withdrawn notes at your own bank or with the Post Office. Alternatively, you can exchange withdrawn banknotes with selected Post Office branches or with the Bank of England.
Exchanging old notes at the Post Office The Post Office Opens in a new window will accept most old notes as a deposit into any UK bank account you can access with them. There are also 30 Post Office branches across the UK that will swap old banknotes, even if you do not have a bank account.
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Current banknotes. The notes now in circulation all feature a portrait of the late Queen Elizabeth II on the obverse. The Bank of England unveiled new notes, in the same design but featuring the new monarch, Charles III, on 20 December 2022.
British pounds (banknotes and coins) and stamps The king will appear on all four banknotes (5, 10, 20 and 50) in lieu of the queen, while the rest of the design will remain the same. The new designs wont be in circulation until mid-2024, and in limited quantities.
When a coin or bank note has been officially withdrawn from circulation it stops being legal tender. That means that retailers, and other organisations are not obliged to accept them, but it doesnt mean the cash is worthless. The Bank of England will always exchange old-series notes.
While the paper notes are no longer legal tender, a Bank of England spokeswoman said all genuine banknotes that have been withdrawn from circulation retain their face value. They can be returned to banks and some Post Offices, but the latter will only exchange a maximum of 300.

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