Planning to zip over to the UK?
Currency needs to be on your to do list. Here is some general information about the Great British Pound (GBP) and some tips and tricks on and how to get the best deal on your conversion from AUD to GBP.
This article will cover:
- What UK notes and coins look like
- Can you use Australian Dollars in the UK?
- How to buy Pounds before your trip
- How to buy currency when you get to the UK
What UK Notes and Coins Look Like
GBP notes are set up a little differently to us in Australia because they don't have a £100 note. Their notes are made up of:
£5, £10, £20, £50
There are quite a few coins in the UK currency. 1 pence is like a cent in Australia, 100 pence (p) make up £1. The coins in circulation in the UK are:
1p, 2p, 5p, 10p, 20p, 50p, £1, £2
Can You Use Australian Dollars in the UK?
No, you can't.
While Australia is part of the Commonwealth, you cannot use Australian dollars in the UK. Just like you can't used Pounds here! The rest of this article has some information about how you can convert currency for your holiday.
Is it Cheaper to Convert Currency in Australia or the UK?
Because exchange rates change so frequently, and every provider offers different rates it's hard to say the cheapest way and place to exchange currency.
When you're travelling to a place like the UK you can often get good exchange rates when you're in the country because Australian travellers go there frequently. This means money exchangers in the UK are happy to trade between AUD and GBP.
Both in Australia and in the UK, steer clear of exchanging currency at the airport. On both ends, the rates will be much worse than in the city centres.
How to Buy GBP Before Your Trip
This is the best way to get currency quickly. You will find them in major shopping centres and towns. Our tip, is that the exchange rates are better in your CBD than what you'd find further out. So it can be worth going there if you're exchanging more than $2,000.
Find the best currency exchange in your states CBD here.
This is a convenient way to buy currency but you need some time. You can choose where to pick the order up from, and in some instances can get home delivery. When you order with Travelex, you can choose to order cash, a prepaid Travelex Money Card or both!
Use code CURRENCYSHOP to get a better GBP rate with Travelex.
Most banks do exchange currency. The issue is that they often have high fees, and don't offer very good rates. It's always better to compare rates elsewhere before deciding, but as a standard rule it's best to avoid your bank. Especially for a popular currency like GBP.
Yes, you can buy currency at the airport. But that doesn't mean you should. While it's convenient, it's also very expensive. If you have run out of time before your trip, it's better to buy currency when you get to the UK, or use your Aussie debit card instead.
Related Video: How to Buy Currency
How to Buy GBP in the UK
If you decide to buy your currency when you get to the UK, the first thing you'll need to do is make sure you have Australian dollars in cash. This way you can exchange it when you get there.
Similar to in doing it in Australia, it's best to avoid buying currency at the airport and the bank, and better to do it in one of the major city centres.
You can use this link to find Travelex stores in the United Kingdom