British Money

British Notes and Coins

• There are 100 pence (p) to the pound
• Notes come in denominations of £5, £10, £20 and £50.
• Coins come in 1p, 2p, 5p, 10p, 20p, 50p, £1 and £2.

Currency Exchange Rates

The pound is a generally stable currency. For exchange rates see xe.com

Exclusive Currency Exchange Offer from Thomas Cook

Thomas Cook, Visit London's official foreign exchange partner, offers you commission-free currency exchange at a fantastic rate. When you change your currency at a Thomas Cook bureau you'll also receive a special offers booklet packed with vouchers saving you up to £100 on top attractions, restaurants and shops, as well as a free London Planner magazine.

• 0% commission
• Great rates on more than 80 currencies
• 12 centrally located bureaux and three bureaux at Heathrow Terminal 5
• Receive a free special offers booklet and save up to £100 on top London attractions, restaurants and shops
• Receive a free monthly London Planner magazine with inspirational ideas and up-to-date information about London

Download your free voucher now and read about Thomas Cook bureaux and the special offers booklet

Bureaux de Change in London

There are numerous bureaux de change in Central London - often located inside banks, travel agents or post offices - as well as at London's airports and major train stations.

It's worth shopping around to get the best deal - compare the exchange rates on offer and don't forget to ask about the commission. A good tip is to ask how many pounds you will receive in total after all charges have been deducted.

Using Credit Cards in London

Credit cards - especially Visa and Mastercard - are widely accepted in London's restaurants, bars, cafes and shops. American Express and Diners Club cards are less commonly accepted.

Cash Machines in London

There are plenty of cash machines (also known as cashpoints or ATMs) dotted around London. Most accept international cards with the Visa, Plus, Mastercard, Cirrus or Maestro symbols. Some other systems are also recognised, but it's a good idea to check with your bank or card company before you travel.

The majority of high-street banks (for example, Barclays, NatWest, HSBC) are part of the LINK network. This means that if you hold a UK bank account you can withdraw money from most ATMs without paying a fee.

If you have a non-UK account you will almost certainly have to pay a charge when you withdraw cash. Again, contact your bank before travelling to find out details.

You might see cash machines in some corner shops and small supermarkets. Check before using them as they are likely to charge a fee (usually £1) for every transaction.

Many cash machines also provide the facility to top up your mobile phone credit.

Money Talks: Speak Like a Londoner

You will usually hear British people say 'pee' rather than pence, as in 50p (50 pee).

More colloquially, a pound is known as a 'quid', a five pound note is a 'fiver' and a ten pound note a 'tenner'.