Banking & Money

English Banks & Bureaux de change

The main high street Banks in England are Barclays, HSBC, Lloyds-TSB, NatWest, Royal Bank of Scotland and Bank of Scotland. All these high street banks have branches in most of England's towns and cities. Most will also offer exchange facilities, but proof of identity may he required.

High-street banks tend to offer the best rates of exchange but there are hundreds of privately-owned bureaux de change that are found at nearly every major airport, rail station and tourist area, which also offer competitive rates. Traveller's cheques are by far the safest method of bringing currency to Britain with you.

Many banks have a ATM machines from which you can obtain money with a credit card and your personal identification number (PIN). Some of the most modern machines have easy to-read computerized instructions in several languages. American Express cards may be used in 24-hour Lloyds and Royal Bank of Scotland cash machines. 

Banking hours vary, but the minimum opening times are 9:30am to 3:30pm, Monday to Friday. Many will stay open longer, especially in cities, and some open Saturday mornings. All banks close on Public Holidays.

In addition the reputable firms such as Thomas Cook, American Express usually offer good exchange facilities and have branches throughout England.

Of course there are the services of Western Union throughout England for the transfer of money throughout the world

Credit Cards

Most credit cards are widely accepted throughout England, and you will definitely need a credit card in order to rent a car and usually for hotel bookings. But many smaller shops, markets, guesthouses and cafes may not accept them, so it is always wise to check in advance. Cards that are accepted are usually displayed on the windows of the establishment. The main cards used throughout Britain Visa and Mastercard but other credit cards include Diners Club, American Express. You can get cash advances with a credit card (up to your credit limit) at any bank and ATM (cash dispenser)displaying the appropriate card sign. You will be charged the credit card company's interest rate for obtaining cash, which will appear on your statement with the amount advanced when you return home.

Money

The English currency is the pound sterling (£), which is divided into 100 pence (p). There are no exchange controls in Britain, so you may bringing and take out as much cash as you like. Traveller's cheques are the safest alternative to carrying large amounts of cash. It is recommended that you keep the receipts from your traveller's cheques separately from the cheques themselves because it makes it easier to obtain a refund if your cheques are lost or stolen. Some high-street banks issue traveller's cheques free of commission to their account holders, but the normal rate is about 1 per cent. When changing money ask for some smaller notes, as these are easier to use.

Bank Notes

English notes are produced in denominations of £5, £10, £20, and £5O.
Always get small denominations as some shops may refuse take larger notes.

Coinage

Coins currently in use are £2, £1, 50p, 20p, 10p, Sp, 2p and lip