King Charles III Sterling pound Banknotes

King Charles III Sterling pound Banknotes

The date is already set on June 5th the new British pound banknotes featuring King Charles III will be released. That may see like a regular even but with the release many questions come to people mind. We are going to try to answer them for you. 

What will happen to the actual polymer Banknotes featuring Queen Elizabeth?

Don’t worry, all the actual polymer notes featuring King Elizabeth will remain legal tender, you will have no problem to pay with them or exchange them at any business. So, in case you would like to exchange British pounds into euros it wont matter if your pounds are the old version or the new one, both will have the same value. 

Why and how will both versions coexist?

This happened before many times in history and with many currencies but maybe this case is different. Usually, one note replaces the old one but, on this case, let us start telling you that as right now, the Bank of England will only issue the new version featuring King Charles III to replace damaged or really old notes. So is not like they are replacing every note they have, just those that need to be reprinted.

Also, both currencies are legal tender so they will coexist until the old notes go out of circulation, for that even is not even a date set, so won’t be a problem for a while.

Do they have the same value?

Of course, both polymer notes have the same value to pay or to be exchanged. For many months the UK is being preparing for this event. Most ATM machines already have new updates to be able to handle both versions. Companies have been updating their systems in order to detect and accept this new version on automatic machines as could be vending machines. Everything is set for this release. 

What about exchanging British pounds in Spain?

As you already know, and this post is another proof, at Eurochange we are up with the times and aware of all currents event involving currencies. This means that all our offices are informed of the latest currency news. All your British pounds will be welcomed if you want to exchange pounds to euro, no matter if they are featuring Queen Elizabeth or King Charles III.

And one more thing… At Eurochange we even exchange the old sterling pound paper notes. So don’t hesitate to come visit us at any of our many locations or contact us thru our customer service.


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