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What is the Great British Pound (GBP)?

Currency:	pound sterling
Currency code:	GBP
Central Bank:	Bank of England
Currency symbol:	£ (pound)
Currency sub unit:	p (penny, pence)
Nicknames:	Quid
Bank notes:	£5, £10, £20, £50
Coins:	1p, 2p, 5p, 10p, 20p, 50p, £1, £2

Planning a trip to the UK? Here’s everything you need to know about the Great British Pound (GBP)—how it works, what it looks like, and how to buy it before you go.

The British pound sterling is the 4th most traded currency in the world. It;s one of the oldest currencies still in use today and has been issued in it's current decimal form since 1971.

The most commonly used bills for British pounds are the £5, £10, £20, £50 and £100 notes. Coins in circulation are the 1p, 2p, 5p, 10p, 20p, 50p, £1 and £2.

BUY GBP Buying Tips

Easy Currency Bundle Options & SIMs for your Trip

UK	Europe
British pound	Euro

CASH

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UK	Europe
British pound	Euro

CARD

BUY GBP & EUR CARD

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GBP Goes Further with the Travelex Money Card

Travel smarter with Travelex‘s award-winning travel money card and enjoy even better rates than cash.

Get ever better exchange rates when exchanging $2,000 and over.
Withdraw cash with no international ATM fees¹.
Save with no foreign exchange fees² & real-time exchange rates.
Load, tap, and go wherever Mastercard is accepted across Europe.

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What to spend your pounds on:

Entry to Westminster Abbey

20 Pounds
Pint of beer

4 Pounds
Fish and chips

5 Pounds
Postcard and a stamp

1.5 Pounds
3-mile taxi ride

15 Pounds

How many pounds will I need?**

What’s your budget like?

On a shoestring Mid range High end

Please select your budget above.

How many people are travelling?

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How many days are you going for?

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Total spending money needed:

A budget
for people for
nights

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Must-sees in England

Brighton
Just 90 minutes from London, Brighton is a great little getaway from the hustle and bustle of the capital. It's a great little day trip and the chalk cliffs are a great photo-op.

Cotswolds
The Cotswolds are an area of rolling hills and quaint villages tucked away in the middle of England that are great for exploring and are full of places quintessentially British.

Oxford
If you're feeling particularly erudite, Oxford is another great day trip from London where you can explore one of the oldest institutions of higher learning (and the setting for many scenes in the Harry Potter movies).

Payment options in the UK

The UK offers a variety of payment options. While card payments are common, it’s still a good idea to have some foreign cash on hand for smaller expenses.

UK Cash UK Prepaid Travel Card UK Debit or Credit Card

Perfect for: Tipping, taxis, small shops & local markets.
Pros: Widely accepted, handy in rural areas.
Cons: Harder to track spending, not as secure.

Why use foreign cash?

British pounds are accepted everywhere in the UK, making cash a reliable payment method—especially in places that don’t take cards, like market stalls, local cafés or black cabs.
Having foreign currency on you also makes it easy to tip at pubs or restaurants where service isn’t included in the bill.

Things to consider:

Pickpocketing can be an issue in crowded areas, so avoid carrying large amounts of cash.
Cash makes budgeting more difficult, as there’s no easy way to track spending.

Perfect for: Safer travel with locked-in exchange rates.
Pros: Easy to reload, holds multiple currencies & fast replacements if lost.
Cons: Top-ups may take a few days, some ATM fees may apply.

Why use a prepaid travel card?

Travel money cards allow you to load GBP in advance using Australian dollars.
Safer than carrying lots of foreign cash and easily replaceable if lost. Plus, you can order a spare card as a backup.
You can lock in your exchange rate at your time of purchase to avoid any hidden costs.*

Things to consider:

ATM fees may apply when withdrawing pounds.
Topping up your card may take a couple of days to process.

Perfect for: Hotel deposits, emergency back-up.
Pros: Convenient, widely accepted.
Cons: Foreign transaction fees, less accepted in small venues.

Why use a debit or credit card?

Credit and debit cards are accepted throughout the UK, with Visa and Mastercard being the most popular.
You can use for hotel and other deposits without affecting your holiday spending allocation.

Things to consider:

Smaller shops and local vendors often prefer cash to avoid processing fees.
There may be minimum amounts required to spend on cards in stores.
Transaction fees for paying with bank cards can be high, generally anywhere from 2-5% of your purchase.

Discover Where to Buy GBP in your City

You can buy GBP online or in-store at any of our branches around Australia.

Check our full list of branches, or click the links below to find stores around major cities and lock in buying GBP at a great rate today.

SYDNEY

PERTH

ADELAIDE

MELBOURNE

BRISBANE

Foreign exchange calculator

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Travelling to the UK in the Future?

Track Rates and get notified when the British pound matches your ideal rate so you can decide if it’s a good time to buy!

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Travelex Money App

Top up your Travelex Money Card and check your balance on the go.

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ATMs

A convenient, fast and simple way to withdraw up to 12 foreign currencies 24/7 (depending on location).

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Frequently Asked Questions about Money in England

What currency does the UK use?

The United Kingdom uses the British pound sterling (GBP), often simply called the pound.
When did decimal currency start in the UK?

The UK adopted decimal currency in 1971, replacing the old pounds, shillings, and pence system.
Is it a good time to buy GBP with AUD?

It depends on the AUD to GBP exchange rate. Many travellers monitor rates and buy when the Australian dollar strengthens against the pound. Check out our free Exchange Rate Tracker tool to be notified when the GBP reaches your desired rate.
How do you convert pounds to Australian dollars?

You can use a live currency converter to check GBP to AUD rates instantly. Keep in mind that exchange providers may offer slightly different rates.
What does UK money look like?

UK banknotes are polymer and feature notable historical figures, while coins range from 1p to £2 with distinct sizes and designs.

^{1 Please be advised that although Travelex do not charge ATM fees, some operators may charge their own fee or set their own limits. Please check with the ATM before using.}

^{2 A foreign exchange ‘Spend Rate’ rate will apply to foreign exchange transactions in accordance with The Product Disclosure Statement.}

^{* Rates are subject to change throughout the day. In-store rates vary compared to online.}

^{** The figures provided are indicative only and are there to provide an idea of the amount of travel money you may need during your trip.}

^{*** Business days. Some stores open 7 days. The next available date will be displayed when ordering.}

^{^^Based on mid-market and Travelex Online AUD to FX exchange rates as of the date of the relevant social media post and/or email communication. Rates are subject to change throughout the day. Any rates and savings are quoted as a guide only.}

^{Travelex Limited (ABN 36 004 179 953, AFSL Number 222444) arranges for and sells Online Foreign Currency via its Online Ordering Facility. You should consider the Terms and Conditions before deciding whether to acquire any product.}

^{Mastercard Prepaid Management Services Australia Pty Ltd (ABN 47 145 452 044, AFSL 386 837) arranges for the issue of the Travelex Money Card in conjunction with the issuer, EML Payment Solutions Limited (‘EML’)(ABN 30 131 436 532, AFSL 404131). You should consider the Product Disclosure Statement for the relevant Travelex Money Card and Target Market Determination available at www.travelex.com.au, before deciding to acquire the product. Any advice does not take into account your personal needs, financial circumstances or objectives and you should consider if it is appropriate for you. Mastercard and the circles design are registered trademarks of Mastercard International Incorporated.}

What is the Great British Pound (GBP)?

Easy Currency Bundle Options & SIMs for your Trip

GBP Goes Further with the Travelex Money Card