Traveling to England can be such an exciting experience. It is a country full of incredible landmarks, culture, and people. But with that said, the question begs, “Do I need to get pounds while traveling in England?” Below, we dive into the answer and explore the pros and cons of this common travel dilemma.
Firstly, the currency of England is the pound sterling, and therefore money can be exchanged in airports upon arriving in the country. To understand whether exchanging currency is necessary for a trip to England, it is important to know the answer to the following question: do I have the access to use my cards in the nation? In most cases, international debit and credit cards are accepted in most outlets, so it is easy to either transfer money or withdraw it in cash. With that said, it is important to take into account the charges associated with currency transfers so that it does not come as a nasty surprise at the end of the trip.
In addition, it is also important to understand how the exchange rate fluctuates for the pound, and whether that affects the cost of your trip. The exchange rate of the dollar to pound is often unpredictable, so it is essential to be aware of any changes that happen prior, or during your trip. To understand the best rate available, it is recommended to check the bank or money services websites for the most up-to-date “buy” and “sell” valuations. It is also important to consider any commission or fees that may be charged on transfers.
Another thing to consider is that travellers may come across some items that can only be bought in cash, such as goods and services in markets or public transport. It is recommended to take a small amount of cash in case travellers experience that or decide they want to buy. It is also recommended, if possible, to check the prices in advance when travelling, to get an idea of the necessary budget size.
An alternative to exchanging cash is to use TransferWise. This online platform is ideal for exchanging currencies for those who want to avoid unnecessary costs. Through such a platform, those travelling to England can hold a variety of currencies, switch between them if desired, and save money on international payments. Furthermore, it is also possible to receive payments from Englanders with TransferWise.
Foreign Exchange Bureaux
One of the most popular ways to exchange money is through foreign exchange bureaux. Often, even when travellers have UK currency, if they want to exchange a small amount of money for other foreign currencies like the Euro or US Dollar, this can be done at these bureaux. Travellers should be aware that exchange rates may vary greatly between different bureaux and that it is worth researching this in advance to get the most competitive rate.
Travellers should also be aware that many bureaux require travel documents when exchanging money, such as a passport, and they will also charge commission for the exchange.
Card Payments
For travellers who have an international credit or debit card, it is usually possible to use the card in England. Cards are usually accepted at most outlets, making it easy to transfer money or withdraw money in cash. With that said, it is important to be aware of any charges associated with using a card from a foreign country.
When withdrawing cash using a card, travellers should be aware that the maximum withdrawal limit set by the card issuer might be lower than what’s available in the UK, and that there may be an additional fee imposed by the issuer for international transactions.
In some cases, it is possible for travellers to open a local bank account in England. This can provide more flexibility when exchanging currency and it might reduce the commission charged when exchanging money. However, it is important to be aware that there may be restrictions imposed by the home bank, such as minimum balances, in order to open a local bank account.
Safety and Security
When carrying currency in England, another important factor to consider is the safety and security of the currency. As with all types of travel, it is important to be aware of one’s surroundings and to keep currency in a safe and secure place at all times. It is also advisable to carry a small amount of cash on the person when going out and keeping the majority of the money stored in a safe place.
Tips for Avoiding Unnecessary Costs
Travellers to England should be aware of the costs associated with exchanging money and should look for ways to minimize them. To do this, it is important to understand the current exchange rates of the pound to various other foreign currencies, and to shop around for the best exchange rate. Travellers should also be aware of any fees and commissions that may be imposed.
When using card payments in England, travellers should be aware of the withdrawal limits set by the card issuer, and should be aware of any additional fees imposed for international transactions. In some cases, it may be wise to open a local bank account in England, as this can provide more flexibility when exchanging money, although there may be restrictions imposed.
Financial Institutions
Travellers to England should also be aware of the range of financial institutions available. In some cases, there are banks that specialise in international payments and currency transfers, such as moneycorp, which can help to provide competitive exchange rates and lower commission. It is also worth keeping an eye out for any special offers or discounts, as these could help to reduce costs.
Travelers should also be aware that a number of online platforms exist that allow for money transfers and currency conversions, such as TransferWise, which can provide convenience and a competitive exchange rate.
Responsible Currency Management
It is important for travellers to England to be aware of the impact their spending can have, and to practice responsible currency management. This could involve researching the local area and familiarising oneself with the cost of living, as well as budgeting in advance to ensure that all of the necessary spending can be covered. Travellers should also be aware of the impact their spending can have on the local economy, and should aim to purchase goods and services from local suppliers and businesses, where possible.
Travellers should also be aware of the importance of exchanging their money at the most competitive rate available, and should be aware that in some cases it can be helpful to shop around for the best rate. Travellers should also be aware of any additional charges or fees imposed, and should aim to keep these costs to a minimum.
Conclusion
In conclusion, it is worth considering whether getting pounds is necessary for a trip to England. Generally speaking, if travellers have access to a global debit card, it is easy to withdraw money from cash machines in England. Furthermore, it is recommended to familiarise oneself with current exchange rates and to shop around for the best rate. Lastly, it is also advised to practice responsible currency management.
