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
Best Exchange rates on the high street
|Company||Currencies||Chip and Pin?|
| ||My Travel Card||Euros, US Dollars and Multi Currency||Yes||Apply|
|FairFX||Euro and US Dollars||Yes||Apply|