Notes on King Charles III. in press – conversion in progress

The new era is taking shape: millions of banknotes with the face of the British King Charles III are already being issued in Great Britain. printed. In a high-security complex, the printing machines are already running at full capacity, producing some six million banknotes in 24 hours, the BBC reported after a visit to the production facility on Friday. However, the new accounts should not be used for payment transactions until mid-2024, as many shops – for example with counters for independent payment – still have to adapt their software. Currently, these switches can only recognize the notes with the image of Queen Elizabeth II, the Charles variant has yet to be programmed.

“There is still a lot to do,” Sarah John of the Bank of England told the BBC. It would take a few months before all devices were up to date. “We don’t want to issue bills that people can’t use.”

Coins with the profile of Charles (74) already exist. The new means of payment will gradually be introduced and replace the old ones. However, the Queen’s notes and coins, who died in September, remain valid and will likely be in circulation for years to come. With this gradual transition, the royal family wants to prevent unnecessary waste of resources.

Cash is becoming less and less important in everyday use in the UK and the pandemic in particular has given cashless payments a huge boost. In London in particular, cash is no longer accepted as a means of payment in some places. (sda/dpa)