This part of my book deals with the hardest part about a trip to London...Money! You of course need a heck of a lot of it to go. To help you raise the money, this part of my travel tips will explain all about British Money! Enjoy... Money The currency of the United Kingdom is called the Pound Sterling (£). £1 is divided into 100 pence (p). The coin/paper money thing is interesting. Unlike a $1 paper note they have a £1 coin. The coins that Britain mints are £1, £2, 50p, 20p, 10p, 5p, and 1 penny. They also print large denomination paper notes. The notes they print are £5, £10, £20, and £50. £1 is roughly worth $1.65-$1.70. The exchange rate changes sometimes daily. For up to date rates look online. Personally I prefer "fx-rate.net". It provides the current exchange rate and it has a converter for you to use to determine how much you will spend on something. To check out this site, click the link at the bottom. Traveler’s checks are (to many) a thing of the past. ATMs are widely used in London and across Europe. You will however probably have to make sure you have a “Chip and Pin” card. It is a card that reads a chip rather than the magnetic strip, you then have to type in your personal identification number. Most European ATMs are for using those kind of cards. Our American magnetic strips may not be used in a lot of London ATMs, but they can be used for purchasing items in stores. Many trip advisers would dis agree with me, but I would suggest changing some money on the US side that way you have enough for transport into the city from the airport once in England. I would suggest maybe getting at least £50 for transport into London and maybe a quick bite to eat at the airport or something. Then, the next morning before setting out, go to an ATM and get a days’ worth of spending money. Just use cash. It is simpler than cards and most places will appreciate it more if you use cash. There is one thing you should know. The Bank of England and the Bank of Scotland both print their own banknotes. In England, Scottish notes are not accepted as stated on the Bank of England’s website. The same is probably said for English notes in Scotland. However, some merchants in England or Scotland have been said to accept the conflicting notes. Just check where you are. If you fly from London to Edinburgh or the other way around and you have stray notes from that country, check to see if local merchants accept them and or just change them for that country’s notes. I hope this information helps you to understand the British money system. To check on the Pound/Dollar exchange rates (which change daily),as well as Rick Steves' Money Tips, click on the respective links below. Cheers!
0 Comments
Leave a Reply. |
Archives
March 2015
Categories
All
|