May 21, 2024

Britain prints money with a picture of King Charles III

A new era is taking shape: millions of banknotes with the face of the British King Charles III are already being issued in Great Britain. print. In a high-security complex, printing machines are already running at full speed and churning out around six million banknotes in 24 hours, the BBC reported after visiting the production facility on Friday.

However, the new bills should only be used for payment transactions in mid-2024, since many shops – for example with stand-alone payment counters – still have to convert their software. These keys can currently only recognize notes bearing the image of Queen Elizabeth II, and Charles’ version has yet to be programmed.

“There is still a lot to be done,” Sarah John of the Bank of England told the BBC. It will be a few months before all devices are updated. “We don’t want to issue any invoices that people can’t use yet.”

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

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In everyday use, money is becoming less important in Great Britain, and the pandemic in particular has given cashless forms of payment a huge boost. In some places, especially in London, cash is no longer accepted. (dpa)

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