Overview

The UK's currency is the pound sterling (£ / GBP) and is the only currency accepted within the whole of the UK. Each pound is made up of 100 pence which are the contains you will deal with in everyday use.

Bureaux de Change

There are numerous bureaux de change in Central London located inside bank or post offices. They all offer you a different exchange rate so its worth looking around for the best deal.

1 pound is equivalent to 80 INR ( Indian Rupee)

1 pound is equivalent to 2 AUD ( Australian Dollar )

1 pound is equivalent to 1.90 USD ( American Dollar)

Credit Cards

Credit cards are widespread especially Visa , MasterCard and American Express. Most UK establishments and  most businesses will accept a credit card or debit card. To protect your card , chip and pin has been introduced in Britain for credit and debit card payments which means you no longer will be asked to sign a paper receipt but instead you must enter a 4-digit pin number (which is the same PIN number you use to withdraw money from any ATM machine).

Cash Machines

Cash machines (also known as cash points or ATMs) can be found all around the UK in petrol stations, train stations, airports, super markets etc. You also find ATMs in some corner shops, check before using them however as it is more than likely you will be charge £1.50 - £2 for a single transaction. If you have a non-UK account, you will more than likely be charged when you withdraw any amount of cash both by your bank and also by the UK bank. The maximum cash you can withdraw from an ATM is generally £300 a day per card. Always plan ahead as it would not be good be left stuck with no cash outside of banking hours! Please note that this restriction only applies to ATM machines not withdrawals made in a bank over the counter. Contact your bank before travelling for any information.

Money Transfer

You can transfer money from the UK as well as receive money from anywhere in the world. The largest company that deals with money transfers is Western Union who established internationally . Is very easy to use and you just have to deposit money at any Western Union office, fill up the paper work (Name, Address of the person you are sending the money to as well as the name of the Western Union office they are using to receive the money) the money is transferred and available for collection abroad within seconds. You can also transfer money online using a credit card via there website. You should be aware that this is not always the best and most cost effective way of transferring money back to your friends and loved ones at home. Other methods include a bank transfer or special pre-paid debit cards that charge very little for transferring money abroad.