Portsmouth Post Office first to get hold of new King Charles banknotes
The new notes will start circulating from today (June 5th)
Some people in the South could be some of the first in the country to get their hands on the brand new King Charles banknotes this morning
A post office in Portsmouth is one of 14 in the country to get the notes from today - while other places will roll them out gradually
It marks the first time that the sovereign has been changed on the Bank of England's notes.
The new banknotes will co-circulate alongside those featuring Queen Elizabeth II.
The chosen Post Offices will initially have ÂŁ5, ÂŁ10 and ÂŁ20 denominations of the new banknotes.
Karen Stonham, branch manager at the site in Slindon Street, said:
"Our local customers come into our branch every day to withdraw or deposit cash for their daily needs, so we were excited to be one of the first branches to have the new banknotes available."
The portrait of Charles will appear on all four banknotes - the ÂŁ5, ÂŁ10, ÂŁ20 and ÂŁ50 - with no other alterations to the existing designs.
However, people may only start to see the new notes appear in their change very gradually.
There are more than 4.6 billion Bank of England notes in circulation, worth about ÂŁ82 billion.
In line with guidance from the Royal Household, the new notes will only be printed to replace those that are worn, and to meet any overall increase in demand.
The approach aims to minimise the environmental and financial impact of the change.
Bank of England Governor Andrew Bailey said: "We're very pleased to be issuing the new King Charles banknotes.
"This is a historic moment, as it's the first time we've changed the sovereign on our notes.
"We know that cash is important for many people, and we are committed to providing banknotes for as long as the public demand them. Bringing these new notes into circulation is a demonstration of that commitment."
In April, Charles was presented with the first banknotes bearing his portrait.
He praised them as "very well designed" and expressed his surprise at being only the second monarch to feature.
Thousands of Post Offices will receive the new-look currency over the coming days and weeks.
Recent figures from Post Office revealed a significant increase in cash transactions at its branches in April, with cash deposits and withdrawals across counters totalling a record ÂŁ3.48 billion.
Ross Borkett, banking director at the Post Office, said:
"This historic launch of the new banknotes featuring King Charles III comes as we experience the highest levels of cash withdrawals and deposits in Post Office branches.
"We're pleased to be able to mark this day by giving people the opportunity to withdraw the new notes from our branches."