Charles’s one million pound note is deposited at Bank of England

By Tony Jones, PA Court Correspondent
·2 min read

The Prince of Wales found himself quids in when he signed a £1 million pound “promissory note” during a visit to the Bank of England.

But there was little chance of Charles, who was joined by wife Camilla, being able to claim the huge sum from the bank.

The financial institution has a tradition of asking visiting senior royals to sign a promissory note – which it is bound to honour – but the valuable document is then kept at the bank, either in a vault or put on display.

The Prince of Wales wore a mask throughout his visit to the Bank of England. Eddie Mulholland/The Daily Telegraph
The Prince of Wales wore a mask throughout his visit to the Bank of England (Eddie Mulholland/The Daily Telegraph)

Camilla was tempted by the note, and joked: “So, I can’t pop it into my handbag.”

During their visit the Governor of the Bank, Andrew Bailey, said he was “optimistic” about the economy in a remark to Charles.

Since Covid-19 began to impact the UK, the Bank has put in place a package of measures to help keep firms in business and people in jobs, with the aim of minimising the longer-term damage to the economy.

The couple, who wore face masks throughout their visit, were taken on a tour of the institution, nicknamed the Old Lady of Threadneedle Street, and also learned about its work to become more sustainable.

Camilla and Charles learnt about the Bank of England's work in areas from the environment to supporting the economy. Eddie Mulholland/The Daily Telegraph
Camilla and Charles learnt about the Bank of England’s work in areas like the environment and supporting the economy (Eddie Mulholland/The Daily Telegraph)

Charles and Camilla were told of the Bank’s effort to decrease its environmental impact through recycling notes into everyday objects.

The prince and his wife met staff involved in the production of notes and viewed a selection of archive and unreleased materials.

They were also shown copies of the new £50 and discussed security measures for the nation’s currency.

When the couple joined a virtual conversation with the Bank’s regional agents, who called in from across the UK, Charles found himself briefly muted by a staff member as the online chat stated.

The Bank of England is the UK’s central bank and is responsible for ensuring monetary and financial stability, and also regulates banks and other financial firms to ensure they are safe and sound.