Bank of England explains how King Charles notes will replace Queen

• The processes needed to replace Queen notes with those featuring King Charles have been made public by the Bank of England.
• Even though the plan’s formal announcement won’t be made for 10 days after the king passes away
• It’s anticipated that the present notes will still be accepted as legal cash.

Later, the Royal Mint advisory council will submit its suggestions for the new coins for the royal family’s consideration.

Charles and Chancellor will then concur on the chosen design.

Governor Andrew Bailey said: “It was with profound sadness that I learned of the death of Her Majesty The Queen.

“On behalf of everyone at the Bank I would like to pass on my deepest condolences to the Royal Family.

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“For most of us, she is the only head of state we have ever known, and will be remembered as an inspirational figure for our country and the Commonwealth.”

The old currency will continue to be used until it is worn out while the new currency is distributed around the country.