London is a vibrant and bustling city that attracts millions of visitors every year. Whether you’re planning a vacation to London or moving there permanently, one of the things you need to know is the currency used in London. In this article, we’ll discuss the currency used in London, where to exchange money, and other useful tips.
What is the currency used in London?
The official currency used in London and throughout the United Kingdom is the British pound sterling (GBP). The pound sterling symbol is £, and it’s often referred to as just “pound.”
What denominations are available?
The pound sterling comes in various denominations, including:
- Notes: £5, £10, £20, and £50
- Coins: 1p, 2p, 5p, 10p, 20p, 50p, £1 and £2
Where can I exchange money?
There are several places where you can exchange money in London. You can exchange money at banks or bureaux de change (currency exchanges). Most airports also have currency exchange offices.
It’s essential to compare rates before exchanging money because rates can vary from one place to another. Some bureaux de change also charge commissions or fees for exchanging money.
Can I use my credit/debit card in London?
Yes! Most shops and restaurants in London accept credit and debit cards.
Visa and Mastercard are widely accepted. However, it’s always a good idea to carry some cash with you as some smaller businesses may not accept cards.
Are there ATMs available?
Yes! ATMs (automatic teller machines) are widely available throughout London.
You can withdraw cash using your debit card from most ATMs. However, be aware that some ATMs may charge a fee for withdrawals, so it’s a good idea to check with your bank before using an ATM.
What about tipping?
Tipping is not mandatory in London but is appreciated for good service. A tip of 10-15% of the total bill is customary in restaurants and bars. Some establishments may add a service charge to the bill, so it’s always a good idea to check before tipping.
Conclusion
In conclusion, the currency used in London is the British pound sterling (GBP), which comes in various denominations. You can exchange money at banks or bureaux de change, and most shops and restaurants accept credit/debit cards.
ATMs are also widely available throughout the city. Remember to compare rates before exchanging money and always carry some cash with you. Happy travels!