UK money / currency exchange 

British currency

Britain’s currency is the pound (£) sterling. There are 100 pennies, or pence (p), to a pound.

Coins are issued in bronze denominations of 1p and 2p, and silver denominations of 5p, 10p, 20p and 50p. There is also a gold-coloured £1 coin, and a silver and gold £2 coin.

Paper notes come in denominations of £5, £10, £20 and £50.

Using euros in London

Even though Britain has yet to join the single currency, it is still possible to spend euros in London.

Only the really big businesses will accept them, though – so don’t try them in a corner shop. The major chain stores – Body Shop, Debenhams, HMV, Marks & Spencers, Selfridges, Topshop, Virgin, WH Smith’s and Waterstones – should all be able to help.

Credit and debit cards

Cash machines are available throughout London, but may charge a small amount for withdrawals (typically £1.50–£2.00) – look out for the notices on the facade or front screen.

The following credit cards are all widely accepted in London: Visa, MasterCard, American Express and Diners Club.

Lost credit cards

If you have lost your credit card then try phoning one of the following numbers:

American Express: call 0127 369 6933

Diners Club: call 0125 251 3500

JCB: call 0207 499 3000

Mastercard / Eurocard: call 0800 964 767

Visa / Connect: call 0800 895 082

High street banks

Here are London’s four major banks, with their head office address and telephone number.

Barclays: 54 Lombard Street. Tel: 0207 699 5000

Lloyds: 25 Gresham Street. Tel: 0207 626 1500

Natwest: 133 Bishopsgate. Tel: 0870 240 1155

HSBC: 8 Canada Square. Tel: 0207 991 8888

Money transfers / exchange

Foreign currency can be exchanged and transferred at banks, post offices and the numerous money-changing outlets in tourist areas and train stations.

Most post offices offer a commission-free money exchange service, and banks tend not to charge commission on sterling traveller’s checks associated with the business.

The following hours are a rough guide, and vary from business to business.

Banks: 9 AM–5 PM (Mon–Fri); 10 AM–1 PM (Sat)

Post Offices: 9 AM–5.30 PM (Mon–Fri), and 9 AM–noon (Sat)

Money-changing outlets: 8 AM–10 PM (Mon–Sun)

Currency exchange rates

The following chart shows the approximate exchange rate between the major foreign currencies and sterling. If you need an exact figure, try visiting xe.com.