New King Charles III Banknotes: Portsmouth one of 14 places where the notes were released into circulation

Customers of the Portsmouth Post Office were able to get their hands on the new-look currency as they were released into circulation on Wednesday, June 5. The launch is also a historic moment as it is only the second time a monarch has been featured on a note, as previously banknotes have only used a portrait of Queen Elizabeth II.

The portrait of the King will appear on all four banknotes (£5, £10, £20 & £50). The rollout will be gradual and staggered and only a selection of Post Offices across the country will stock the new currency today with chosen Post Offices initially providing £5, £10 and £20 notes. Thousands of Post Offices will receive the new-look currency over the coming days and weeks.

Post Office undertook some research to coincide with the new look notes which found that 28 per cent of people surveyed wanted to get hold of one of the new banknotes. The findings also highlight a fifth (19 per cent) of Brits are more likely to get cash out as a result of the introduction of the King Charles notes.

Wanting to be a part of a huge moment in history (51 per cent), the excitement of being one of the first to get one of the new notes (38 per cent), and wanting to collect it as a memento (32 per cent) are cited as the main reasons for wanting to withdraw the new-look notes. Nearly a third (31 per cent) said they were pleased the tradition to use the image of a monarch on notes is continuing and a quarter (25 per cent) said they find it satisfying to hold a fresh, brand new bank note.

Commenting on the launch, Karen Stonham, branch manager at the Portsmouth Post Office, said: “The launch of the new-look banknotes featuring King Charles is an exciting moment for us at Portsmouth Post Office. Our local customers come into our branch every day to withdraw or deposit cash for their daily needs, so we were excited to be one of the first branches to have the new banknotes available. It’s been a significant day for Portsmouth, with the King also in the area for the D-Day anniversary celebrations.”