Tetbury one of 14 in UK with new King Charles banknotes

Banknotes featuring the King’s portrait are being issued from Wednesday, marking the first time that the sovereign has been changed on the Bank of England’s notes.

The new banknotes will co-circulate alongside those featuring Queen Elizabeth II.

The portrait of Charles will appear on all four banknotes – the £5, £10, £20 and £50 – with no other alterations to the existing designs.

However, people may only start to see the new notes appear in their change very gradually.

There are more than 4.6 billion Bank of England notes in circulation, worth about £82 billion.

In line with guidance from the Royal Household, the new notes will only be printed to replace those that are worn, and to meet any overall increase in demand.

The approach aims to minimise the environmental and financial impact of the change.

Bank of England 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.”

In April, Charles was presented with the first banknotes bearing his portrait.

He praised them as “very well designed” and expressed his surprise at being only the second monarch to feature.

The chosen Post Offices will initially have £5, £10 and £20 denominations of the new banknotes.

Thousands of Post Offices will receive the new-look currency over the coming days and weeks.

Ross Borkett, banking director at the Post Office, said: “This historic launch of the new banknotes featuring King Charles III comes as we experience the highest levels of cash withdrawals and deposits in Post Office branches.

“We’re pleased to be able to mark this day by giving people the opportunity to withdraw the new notes from our branches.”

While banknotes featuring Queen Elizabeth II remain legal tender and there is no need to exchange them, people who are interested to see the new banknotes can now get their hands on them.

Here are the locations and postcodes for the Post Office branches where the notes will be available first on launch day, with a gradual rollout to others in the coming weeks:

Piccadilly Plaza (Manchester), M2 1BB

Sunderland City, SR1 1RR

Portsmouth, PO1 1AB

Birmingham, B2 4AA

The City of London, EC2M 5TE

Moorgate, EC2M 5TE

Broadway, SW1H 0AX

Great Massingham, PE31 6HP

Tetbury, GL8 8DB

Minchinhampton, GL6 9BN

Windsor, SL4 1AA

Houndsditch, E1 7BS

Woodstock, OX20 1SP

Poundbury, DT1 3AZ