London Currency Guide 2026
British Pound Sterling (GBP) · £
£1 = $1.27 (approx.)
London Travel Guides
Cash is Optional in London
Almost fully cashless — cards work virtually everywhere
Daily Budget Guide
🎒
Budget
£50–80 ($63–101) (hostel, cook own meals, free museums)
🏨
Mid-Range
£120–200 ($152–254) (budget hotel, pub meals, some attractions)
✨
Luxury
£300+ ($381+) (central hotel, fine dining, West End shows)
ATM Tips for London
Barclays, HSBC, Lloyds, and NatWest ATMs in supermarkets are free to use
Avoid ATMs marked "charges apply" — common in smaller shops and pubs (usually £1.99 fee)
Always choose GBP when prompted — declining dynamic currency conversion saves 3–5%
Contactless payments are virtually universal in London — you rarely need to use a PIN
Card Payment Tips
London is one of the world's most contactless-friendly cities — even buses are card-only (no cash)
Tap your Visa/Mastercard directly on Tube, bus, and London Overground for automatic daily/weekly fare capping
Apple Pay and Google Pay accepted almost everywhere including market stalls
A few traditional pubs and market traders prefer cash — carry £20–30 as backup
Currency Exchange Tips
✓ Best method
Wise or Revolut app offers near-interbank rates. Avoid airport exchange desks. If exchanging cash, use Post Office or authorised currency exchange bureaux.
✗ Avoid exchanging at
- ×Heathrow/Gatwick airport exchange (worst rates)
- ×"No commission" bureaux (they make money on the spread)
- ×Travelex kiosks in tourist areas
Tipping in London
10–12.5% at sit-down restaurants if not already included (check for "service charge" on the bill). Rounding up in black taxis is appreciated.
Useful Denominations
Frequently Asked Questions
Do I need cash in London?
Almost no — London is incredibly cashless. Buses don't take cash at all. The Tube, taxis, most restaurants, and virtually all shops use contactless card payment. Keep £20–30 for emergencies or small markets.
Is it better to exchange money before going to London?
No — exchange rates at home are typically worse. Use your bank card or a travel card (Wise/Revolut) and withdraw GBP from free ATMs in London.
Can I use my US credit card in London?
Yes, completely — Visa and Mastercard work everywhere. Just ensure your card has no foreign transaction fees. Amex is accepted at most larger establishments but not universally.
How much spending money for a week in London?
Budget: £350–560 ($444–711). Mid-range: £840–1,400 ($1,067–1,778). The main costs are accommodation, meals, and activities. Transport on a weekly Oyster cap is reasonable.
Before you go to London
London Packing List
Everything else you need for your London trip