Bank of England sets deadline for King Charles banknote exchange: What you need to know

From June 5 to June 30, you can exchange old banknotes up to the value of £300 for the new ones featuring the King by filling out an application form, as long as you live at a UK address.
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UK residents have been alerted to take action regarding the new King Charles banknotes before the end of June. From June 5 to June 30, individuals can swap old banknotes for new ones featuring King Charles, up to a limit of £300, by submitting an application form, provided they have a UK address.

Additionally, from June 5 to June 11, people can visit the Bank of England's counter on Threadneedle Street in London to exchange their old notes for the new currency, adhering to the same £300 maximum per person. The application form states: "Application form for King Charles III banknotes from the Bank of England (Maximum £300)."

The form specifies: "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."

The address for sending applications is given as: "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 the Bank of England showcased the new banknotes and prototypes, it called upon all relevant businesses including retailers, train companies, car park operators, casinos, and vending machine providers to ensure they had 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," stated the Bank back in February.

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