London Money - Car Hire London, Uk

London Money

Cost Money and Banks in London

The medium of exchange in London is the British pound which is found in denominations of 50, 20, 10 and 5. Furthermore, coins are found in denominations of pounds 2 and 1, and of 50, 20, 10, 5, 2 and 1 pence. Money may be exchanged in banks, exchange companies as well as some hotels.

Credit and Debit cards are widely used and accepted. However, travelers are advised to carry travellers’ cheques in Pound Sterling in order to avoid exchange rate charges. Furthermore, no restrictions have been placed on the import or export of foreign or local currencies.

There are several banks serving the masses in the city of London, of which the major ones include the Bank of America International Ltd., Barclays Stockbrokers Ltd., Citibank International plc, National Westminster Bank Plc, Merrill Lynch International Bank Ltd. Banking hours are from 0900-1700 Monday to Friday, however a few branches of some banks are open on Saturday mornings.

Out of the countries in the UK, London, in particular, is expensive compared to other countries around the globe. Though the cost of living depends on an individual’s own taste and preferences, a traveler should certainly prepare for the following expenses: accommodation, transport, food and entertainment.

A few other factors that need to be considered include the costs of clothing and communication, for instance mobile phone and internet access. One may use a student or youth travel card for availing discounts, or buy from charity shops. London is also famous for swaps and freebies, where those who are no longer in need for certain things, give them away. Moreover, those who can pack at the last minute should check out lastminute.com for flights accommodation and package deals.

It is important to be aware of the expenses one may face at each point during the travel, however, one should be on the look for ways to cut them down. Two significant ways to reduce one’s cost of living in London is through shared housing and by making use of the excellent public transport network. Although these might be crowded during peak touring periods and at such times car hire London provides safe, secure and comfortable journeys.