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keep eye out for fake King Charles Bank Notes
THE introduction of new banknotes (£5, £10, £20, and £50) featuring King Charles III's portrait started to be issued for the 1st time on:- 5 June 2024. The notes banknotes that feature the portrait of Queen Elizabeth II will remain legal tender and are co-circulating alongside King Charles III notes. The new Bank of England notes will gradually replace the old Queen Elizabeth II notes when they get handed into banks when damaged,
Despite these new notes being rare in everyday transactions at present, people can still pick up a potential forgery as people are unfamiliar with seeing King Charles III on them. Plus, they are also confusing some machines that accept, sort or check banknotes, leading to the machines also not recognizing the notes, and rejecting them. These unexpected problems have provided a golden opportunity for scammers to circulate new fake notes. Stay alert..! The new updated designs are the same as the old designs, just with King Charles III's portrait on them and not Queen Elizabeth II. The newly minted polymer notes are equipped with the same sophisticated anti-fraud features that are on the old notes and are meant to simplify the detection of counterfeits. If you get a new note, vigilance is being encouraged by the Bank of England is telling the public to examine their paper money with due diligence, particularly when in shops or dealing with independent traders. They say you should check to see if the note has the same anti-fraud features on it as the old notes. Checking notes should help you to prevent yourself from getting forgeries. For more information about the new notes and how to spot fake notes, please click here.  Did you know that an estimated 116,000 counterfeit banknotes were seized from circulation in 2023, possessing a combined face value of approximately £2.5 million?
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