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Money and Money Exchange in London

SmarterTravel

Tourist Traps in London: Money and Money Exchange

London is the capital of Great Britain and a dynamic city. Don’t waste time while you’re here, exchange your money before your trip.

Bureau de change

If you need more money, be mindful of commission fees. Thomas Cook, a London based travel company, will exchange your currency, but charges 9% commission. Before you get this desperate, head to a bureau de change office. They offer fair exchange rates and don’t charge commission. You’ll find these throughout London, including some Marks and Spencer department store locations. Before you head to London, map out the exchange offices near your hotel.

ATM

If you need money fast, find an ATM. Rumor has it the High Street Bank ATMs don’t charge a service fee, but don’t expect this everywhere. Don’t be surprised if you have to pay a little extra to withdraw cash in London. However, keep in mind that ATM fees are often cheaper than what you’ll see at a travel agency.

Online Options

Many companies advertise online exchange services, but this is risky. Travelex has a questionable reputation and has been accused of sending the wrong amount of money and charging excessive fees. Transferwise may be more reliable, but it’s difficult to say they’re 100% trustworthy. Before you leave, talk to your bank. They will help you get the best exchange rate possible.

Editor’s Note: The information contained on this page was compiled using real traveler reviews about tourist traps in London, money and money exchange.

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