Tourist Tips - Money Exchange
The official currency of Britain is the Great British Pound or Sterling which is denoted as £. The value of British currency is based on the decimal system which counts from one hundred pence to each pound. The value of the coins ranges from 1p to 2p, 5p, 10p, 20p, 50p, £1 and £2 and the value of the notes varies from £5 to £10, £20 and £50. All the British coins have HM the Queen’s head engraved on one side.

If you are a citizen of any EU country traveling to London, you can take in and out bank notes, travelers’ cheques, letters of credit and others in any currency and unlimited amount. And, incase you are traveling to and from any other country outside the European Union and carrying cash of more than 10, 000 Euro or its equivalent, then you are required to declare the amount to HM Revenue and Customs.

You can visit Banks, ATMs or use credit cards for monetary transactions. The banks are generally open from Monday to Friday but working hours may differ from branch to branch. In case, the banks are closed, you can check the high-street travel agents, exchange offices, counter desks in larger hotels or at any independent Bureau de Change. You can also withdraw money from Automated Cash Machines (ATM) or cash machines by using your international credit cards, debit cards and bank cards. All the credit cards which have the logo of Visa, MasterCard or American Express are accepted in London. For exchanging the foreign currencies, you can visit the banks, post offices, hotels and Bureau de Change kiosks.

Unfortunately, in case of lose of credit cards in London, it is suggested to report about its missing to both the credit card company and the police. For your assistance here is a list of distribution agencies of credit card and their customer care numbers:

• American Express - 01279 696 933
• Diners Club - 0870 1900 011
• Visa - 0800 891 725
• MasterCard - 0800 964 767