United Kingdom (GB)
The United Kingdom — comprising England, Scotland, Wales, and Northern Ireland — is a constitutional monarchy and parliamentary democracy of 68 million people, and one of the world's leading economies, cultural powerhouses, and global cities.
Currency & Money
Practical money tips for living in United Kingdom.
Denominations
Coins: 1p, 2p, 5p, 10p, 20p, 50p, £1, £2. Notes: £5, £10, £20, £50. Polymer notes introduced from 2016 onwards.
Payment Culture
The UK is a highly cashless society — contactless card payment (up to £100 per tap) is universal and accepted in virtually every shop, café, pub, and transport service. Apple Pay and Google Pay widely accepted. Cash is legal tender but increasingly rare; some venues are card-only. The UK does not use the Euro — pounds sterling only. Cheques still in limited use for some payments. Bank transfers (Faster Payments) are free and near-instant between UK banks.
ATM Tips
ATMs (cash machines) are widespread at banks, supermarkets, petrol stations, and in many shops. Free cash machines are marked — some privately operated machines (in pubs, small shops) charge £1.75–£2.50 per withdrawal. LINK is the main ATM network. Foreign cards incur currency conversion fees — use Wise or Starling to minimise costs.
Exchange Tips
Use Wise or Revolut for international money transfers — high street bank fees are very high (typically £20–35 per transfer plus poor exchange rate). Currency exchange at airports offers poor rates. Post Office and specialist bureaux (Currency Fair, Moneycorp) in city centres are better. The UK is outside the EU — SEPA transfers do not apply; international transfers are needed for EU transactions.
Pro tip: Best apps for expats
- • Wise — Send money internationally at near-interbank rates
- • Revolut — Multi-currency account, free ATM withdrawals (limits apply)
- • N26 — German IBAN, free account, good for EU residents