Over a quarter (28%) of Brits are interested in getting hold of the new-look banknotes, with a fifth (19%) saying they are more likely to get cash out as a result.

Nearly a third (31%) said they were pleased the tradition to use the image of a monarch on notes is continuing.

London, UK – 5 June 2024 – Today marks the start of the rollout of banknotes featuring a portrait of King Charles III, and members of the public are able to snap up the new-look currency at selected local Post Offices.

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 II1.

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% of people surveyed wanted to get hold of one of the new banknotes.

The findings also highlight a fifth (19%) 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%), the excitement of being one of the first to get one of the new notes (38%), and wanting to collect it as a memento (32%) are cited as the main reasons for wanting to withdraw the new-look notes. Nearly a third (31%) said they were pleased the tradition to use the image of a monarch on notes is continuing and a quarter (25%) said they find it satisfying to hold a fresh, brand new bank note!

Karen Stonham, branch manager at the Portsmouth Post Office, and Krishna Thakeria, branch manager at the Broadway Post Office, experience the daily demand in their local communities for cash, with many customers coming in to withdraw or deposit it, while using Post Office’s Everyday Banking services available. The branches are two of the first to have the new-look notes available for customers to withdraw, and for Ms Stonham it conveniently coincides with King Charles visiting Portsmouth to mark the beginning of the D-Day commemorations.

Commenting on the launch of the notes, Ms Stonham 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.”

The latest data from Post Office has further revealed a significant increase in cash transactions at Post Office branches in April, with cash deposits and withdrawals across the counter totalling £3.48 billion across 11,500 branches, their highest levels ever2.

Commenting on the launch of the notes, Ms Thakeria said, “People come to us every day to withdraw or deposit cash in branch but today is particularly special as we are lucky enough to be one of the first post offices in the country to be able to provide customers with the new-look King Charles III banknotes.

We are delighted to be able to offer customers a chance to get their hands on these new designs from the day they launch. Not only that but the new-look notes hold a special significance for us at Broadway Post Office, given our proximity to Buckingham Palace and the historic Cabinet War Rooms, which hold strong connections to Winston Churchill who continues to feature on the reverse of the £5 note."

Ross Borkett, Banking Director at Post Office, added, “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.”

As the banknotes begin their roll out across the UK today, visit branch finder to find your local branch for Everyday Banking services.

Customers were quick to arrive at post offices to withdraw the new-look cash this morning with two customers at the Broadway Post Office commenting:

Colin Smoothy, 65, lift interior fitter from Erith, Kent and the first person to be served at the Broadway Post Office in London this morning, having queued outside before opening hours, said: “I started collecting all the old notes about 15 years ago as I want to keep the tradition alive and pass them on to my sons. I like the royal family and I will put these notes in a line. I’m collecting them so that I have 10 schilling notes, £1 notes all the way up to £50 notes. In terms of my collection, the blue £1 note is probably my most valuable.”

Paula Cavelius, 42, from Finland commented on how she felt after collecting the new-look notes from the Broadway Post Office: ''The notes feel the same as the old ones although I thought King Charles looked handsome and maybe younger on them. It was exciting to be able to get the new notes from the post office near Buckingham Palace to celebrate this special occasion - I can't believe I was lucky enough to get them! I like William and Kate because they were born at around the same time as I was born. I teach English as a foreign language in Finland and we always discuss the British Royal Family there.''

-ENDS-

Notes to Editors

1 https://www.royal.uk/coinage-and-bank-notes

2 Post Office Cash Tracker Data, April 2024.

Full list of Post Office branches that will have the new-look notes available first on launch day are included below. There will be a gradual rollout to others across the country in the coming weeks:

Piccadilly Plaza (Manchester) – M1 4AL

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

For media inquiries, interview, and photo requests, please contact:

Leah Fullalove

PostOffice@boldspace.com

About the research

Post Office research was conducted in May with 2,000 UK adults via an online, nationally representative survey.

About the Post Office

With over 11,500 branches, Post Office has the biggest retail network in the UK, with more branches than all the banks and building societies combined.

Post Office is helping anyone who wants cash to get it whichever way is most convenient. Partnership with up to 30 banks and building societies means that 99% of all UK banking customers can access their accounts at their Post Office.

Cash withdrawals, deposits and balance enquiries can be made securely and conveniently over the counter at any Post Office; and the biggest investment by any organisation or company in the last decade is being made to safeguard 1,400 free-to-use ATMs across the UK.

Post Offices provide a wide range of services from cash and banking; mails and parcels; foreign exchange; and bill payments services.

More information on Post Office’s everyday banking services can be found here: https://www.postoffice.co.uk/help-support/everyday-banking

Find your nearest Post Office: postoffice.co.uk/branch-finder

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