The Bank of England has issued a warning to Brits who have old banknotes featuring the Queen as the deadline to exchange them for the new King Charles III notes is fast approaching
UK households have been issued a warning about King Charles banknotes and urged to ‘act’ before the end of June.
From June 5 to 30, old banknotes up to the value of £300 can be exchanged for new ones featuring the King by filling out an application form, provided you reside at a UK address. Alternatively, you can visit the Bank of England counter at Threadneedle Street, London, between June 5 to 11 to swap your old banknotes for the new ones, with the same £300 per customer rule in place.
The application form states: “Application form for King Charles III banknotes from the Bank of England (Maximum £300). Applications from individuals resident in the UK ONLY. 1 application per person permitted. Claims to be submitted by 30/06/2024. To apply for your King Charles III banknotes by post, please fill out this application form and send it to us with the banknotes. Please include an additional £5 postage (notes only) if special delivery is required.
“Please send to Department 24, Bank of England, Threadneedle Street, London, EC2R 8AH. ONLY BANK OF ENGLAND BANKNOTES WILL BE ACCEPTED (COINS, FOREIGN CURRENCY, SCOTTISH, IRISH, ISLE OF MAN, JERSEY and GUERNSEY NOTES NOT ACCEPTED).”
Earlier this year, when unveiling the banknotes and prototypes, the Bank of England called on all affected businesses ranging from shops, rail firms and car park operators to casinos and vending machine companies to have completed any necessary updates by June 5, reports Birmingham Live.
“If your business uses or is responsible for any machines that accept, sort or check banknotes, you need to plan for their adaptation,” the Bank stated in a February announcement. It also added that banknote equipment manufacturers were releasing updates for firms to install in preparation for the change.
