New cash ‘limit per person’ introduced with King Charles banknotes | Personal Finance | Finance

A limit on cash per person is being introduced alongside the new King Charles banknotes.

It’s always exciting when new tender is issued and the sterling notes emblazoned with our new King have now officially entered circulation.

Bank notes including £5, £10, £10 and £50 are now available from the Bank of England and if you’re lucky could soon be popping out of a cash machine near you.

Although the Queen Elizabeth II notes will remain legal tender as no deadline for their withdrawal has yet been set, the Bank of England has put in place a system to allow people to get the new notes sooner.

But there is a limit per person on how much of the fresh cash you can order.

The Bank of England has announced: “We recognise that people may be interested in seeing the new notes, and have therefore put in place temporary facilities to allow people to obtain a limited value of the King Charles III banknotes – there will be a limit per person.

“You can obtain the new King Charles III banknotes using our postal exchange service. If you send us current or old series banknotes, along with a completed application form, we will return King Charles III banknotes to you in exchange. The exchanged notes can only be sent to a UK address.

“You can obtain the new King Charles III banknotes using our postal exchange service. If you send us current or old series banknotes, along with a completed application form, we will return King Charles III banknotes to you in exchange. The exchanged notes can only be sent to a UK address.”