POUND NOTES
ON THE MONEY:
50p piece
King Charles III is settling into his new role, but it may be some time before bank notes bearing his likeness start appearing in our purses and wallets.
King Charles notes will only be issued when existing Elizabeth II notes start getting worn or damaged, according to banking industry body UK Finance.
Cash is still king for many as the latest data shows the number of coins processed through wholesale cash centres rose by 10% in 2022, compared with the previous year, while the level of notes processed rose by 7%.
The banking and finance industry supports this sustainability and is taking steps to reduce the environmental impact of cash.
It is working to eliminate as much single-use non-recyclable plastic as possible from the cash cycle.
Plastic bags purchased for cash transit fell from 47million in 2019 to 19million in 2021.
David Postings, chief executive of UK Finance, said: “Cash remains important to people and nearly seven million coins are already in circulation bearing the image of King Charles.
“While it may take longer for people to see notes bearing his image, this decision will help protect the environment.”
Leeds Building Society has launched a new collaboration with Experian to help would-be borrowers, especially renters, who might normally struggle with their credit score.
It has become the first UK mortgage provider to partner with Experian and connect to its free Experian Boost Service.
This means the last 12 months of regular debit payments, such as council tax and subscriptions to digital entertainment services like Netflix and Spotify, can now contribute to credit scores and be factored into mortgage applications with Leeds.