Millions have been printed, but the brand new banknotes inked with King Charles’ portrait won’t enter circulation until the middle of the year.
Ahead of the roll-out, this Bank of England Museum display will explore the future of our relationship with money. This display will also be the public’s first opportunity to view the freshly printed King Charles banknotes in person. You can visit the display from February 28.
The exhibition’s aim is to explore and explain how we currently interact with money and how this will all change in the future. In the past 10 years, cash payments in the UK have rapidly declined. What does this mean for future generations?
Prepare to learn terms like “Blockchain technology” and to be educated on “cryptoassets” such as Bitcoin. There will also be plenty of information on the increasing role of Artificial Intelligence in banking.
Do you still carry cash?
With the advancement of banking technology, there are now roughly 70 million credit and debit card payments made in the UK every day.
If you still carry cash or do not have a bank account, you are not alone! In 2022, records showed that 1.1 million people in the UK didn’t have a bank account.
Jennifer Adam, curator at the Bank of England Museum, told the BBC: “The way we handle money has completely transformed in the last century, from gold and silver coins to the tap of a smartphone.
“We begin to find out about money using real cash as children – from pretend shops to being the banker when playing monopoly – but how do we learn to manage money when it’s in a digital form?
“As a starting point for information about money and understanding the economy, this is the place to visit.”