Changing money in London

Exchanging money in London

Foreign exchange is big business in London and almost every single shop, hotel, dry cleaner and grocer seems to offer it nowadays. They all boast “0% commission” but this is as redundant as a restaurant stating that they will not charge you a commission as it all comes down the price you pay. Most people make the reasonable assumption that the main banks will be the best place to get their money exchanged but although probably the safest place to do it, their rates are often the worst available, along with London’s hotels and airports!

However do not be tempted to use one of the thousands of temporary pop up bureaus that have sprung up in every shop in the West End, no matter how professional the installation looks like, as even if the rate is good, you are not guaranteed not to be ripped off in other ways.

The best place for changing money is the retailer Marks and Spencer’s, who are currently trying to eat in to the bank’s hold on the foreign exchange market or the Post Office which often has one of the best rates around and have outlets all over the country.

You can always use a pre paid currency card

 CompanyMinimum for delivery£100 to Euros 
Marks and Spenser BankM&S Bank£100£111.18Order travel money online
Currency Exchange at the post officeThe Post Office£400£112Order travel money online
Money Corp's Currency RatesMoneycorp£500* free delivery£113.25Order travel money online
Currency Exchange at SainsburysSainsburys£100£113.03Order travel money online

Best Price Travel Money
Travelex£500* free delivery£113.10Order travel money online
Thomas Exchange Global LtdThomas Exchange Global£100£110.60* after delivery
£115 in branch
Order travel money online
Nat West Currency ExchangeNatWest Bank£100£1.04.90* after delivery
£110.42 in branch
Order travel money online

Best Exchange rates on the high street

 CompanyCurrenciesChip and Pin? 

My Travel CardEuros, US Dollars and Multi CurrencyYesApply
FairFXEuro and US DollarsYesApply