There are a number of different ways to change currency in the UK.Most international ATM/bank cards/credit cards will also work in the UK.
- Always notify your bank before you begin using your cards – This ensures transactions you make are not flagged as “suspicious activity.” – If banks notice that someone in another country is making withdrawals from your account, they often assume your cards have been stolen and may cancel them to prevent fraud
- Ensure that your PIN consists of a 4-digit number – If your PIN is 5 or more digits or a combination of letters, ask the bank to change it, as some ATM’s only accept 4 digits and most keypads are not alphanumerical.
- You should make sure you know your PIN before you travel – It is often required both in shops, and to withdraw money. ATM machines can be found everywhere in the UK. Increasingly they are found in hotels, shops and nightclubs/bars. However, if you are planning to use one of these machines please be aware that you may incur high costs as they do charge commission fees.
- Machines should always tell you if you are going to be charged for the transaction – When using ATM machines it is important that you check in advance to ensure that they are not going to charge you for the transaction.
- Banks in the UK will not charge you any kind of transaction fee – when using your card at their ATM. You may be charged a fee by your provider in your home country. At present customers of Bank of America have a relationship with Barclays Bank in the UK which allows account holders to withdraw cash with no fees at all.
Currency can be changed at a number of locations in London. A good source for the best rates of exchange is the Money Saving Expert website Travel Money Maximiser along with The Post Office and banks.