University News and Updates..
  • Home
  • Wellness
  • Money
  • Accommodation
  • Lifestyle
  • Study
  • Entertainment
  • Miscellaneous
No Result
View All Result
University News and Updates..
No Result
View All Result
Home Guide

Ultimate Guide to UK Currency Exchange

University Living by University Living
December 2, 2022
in Guide
0
UK currency
0
SHARES
67
VIEWS
Share on Facebook

When you are moving abroad for studies, the biggest dilemma that we all face is when, where, and how we will exchange our home currency to the local currency. There are many ways by which you can get your currency exchanged but most of them turn out to be quite disappointing due to various reasons. But you need not worry, with the following tips, you’ll make the most of every cent you spend. With these tips, doing UK currency exchange will be a cakewalk.

Currency exchange is the process of exchanging one’s home currency into the currency of the country he/she is visiting. The exchange can be for anything be it tourism, studies or commerce, etc. For those visiting UK, the currency used throughout the UK is British Pound (GBP- £), made up of 100 pence (p). The pound is also known as Sterling or pound sterling. In slang term, pound or sterling pound is called quid and pence is referred to as “pee”. The coins come in denominations of 1p, 2p, 5p, 10p, 20p, 50p, £1, and £2 whereas the notes come in denominations of £5, £10, £20, and £50. These are the denominations that you will get when you will exchange your local currency to pound.

Why should you avoid exchanging currency at the airport?

Which is the best place to exchange currency before a trip? The answer should never be the airport. Avoid UK currency exchange at the airport as it the worst place to exchange foreign currency. On exchanging currency from popular booths like Forex, and Travelex that can be easily spotted at the airports, you may end up losing about 15% of the cash you require.

Why should you contact your local bank?

You can contact your local banks before travelling and find out what are the UK currency exchange rates. Local banks are more likely to offer better exchange rates and may not charge a fee for it. Also, try to practice the 70/30 rule, in which you load 70% of your total expense in forex card and carry the rest 30% in cash in the form of local currency.

Which is the best place to exchange currency?

No matter what your destination is, exchanging foreign currency at a government institution is always better. Visit your nearest post office or a government bank as they can provide you with better exchange rates than local agents or private dealers.

Click on this link to know how to open a bank account in the UK

Should you pay using your debit/credit cards?

Don’t overuse your international debit card or credit cards because that will result in unnecessary convenience and transaction fees. Make use of credit card only for large purchases and debit card for withdrawing money from the ATM.

Which places should you avoid?

If you don’t want to pay high conversion fees plus get a poor exchange rate, you must avoid exchanging currency near popular tourist attractions or in the city centre. Instead, we recommend you to opt for less popular tourist areas so that you can get better exchange rates and thus save some money.

If you need more help regarding forex exchange, send us a tweet! We’re always available to make your student experience truly hassle-free. We will help you purchase, sell, and transfer international currency anywhere in the world through our trusted partners at Niyo. Indian students can use their Niyo Global card worldwide with zero Forex markup.

Suggested Some UK Cities:

Book Premium Student Accommodation York

Premium Student Accommodation Birmingham

Suggested Article: 

Best UK Student Discount Cards for Irresistible Offers

Guide to UK Healthcare for International Students

Top 5 Tips for Moving to Uni for the First Time

5 Tips for Living with a Roommate

Ultimate Guide to Supermarkets in the UK

Tags: Best Place to Exchange CurrencyCurrency ExchangeCurrency Exchange guide UKPlaces to avoid for currency ExchangeUK Guide
Previous Post

College Traditions on Valentines Day You Need to Know

Next Post

London Pre-Departure: Have a Worry-Free Stay!

University Living

University Living

Next Post
London Pre-Departure: Have a Worry-Free Stay!

London Pre-Departure: Have a Worry-Free Stay!

  • Trending
  • Comments
  • Latest

UK flights under the air travel bubble arrangement will resume after 7 January

October 8, 2022
India to start regulated resumption of the UK flights after 7 January

India to start regulated resumption of the UK flights after 7 January

October 8, 2022
International students in UK will be able to access vaccine

International students in UK will be able to access vaccine

December 2, 2022
Best scholarships for international students to study in the UK

Best scholarships for international students to study in the UK

October 8, 2022
Nightlife in the Country Town of Adelaide

Nightlife in the Country Town of Adelaide

0
Exploring the Country Town of Adelaide

Exploring the Country Town of Adelaide

0
The Best Festivals in Adelaide

The Best Festivals in Adelaide

0
Explore the City with the Highest Number of Millionaires: Perth

Explore the City with the Highest Number of Millionaires: Perth

0
Harvard Vs. Oxford

Harvard University vs Oxford University

March 17, 2023
Tips for Finding Jobs in the UK

Top 5 Tips for Finding Jobs in the UK as an International Student

March 13, 2023
Post-Admission Services For Your Study Abroad Journey

Post-admission services you need to have: All you need to know BEFORE you leave to start your study abroad journey

March 2, 2023
Room Essentials Tips

10 Essential Roommate Tips For College Students

February 24, 2023

Recent News

Harvard Vs. Oxford

Harvard University vs Oxford University

March 17, 2023
Tips for Finding Jobs in the UK

Top 5 Tips for Finding Jobs in the UK as an International Student

March 13, 2023
Post-Admission Services For Your Study Abroad Journey

Post-admission services you need to have: All you need to know BEFORE you leave to start your study abroad journey

March 2, 2023
Room Essentials Tips

10 Essential Roommate Tips For College Students

February 24, 2023
University News and Updates..

University Living is a global student housing managed marketplace that assists students seeking higher education in finding housing near universities around the world. Our goal is to make the transition into a student's life as easy as possible.

We are a tech-enabled platform that lets students search-compare-book from over 1.75 million beds in 300+ student popular cities across the UK, Ireland, Australia, Europe, USA and Canada.

Browse by Category

  • Accommodation
  • Entertainment
  • Featured Story
  • Guide
  • Lifestyle
  • Miscellaneous
  • Money
  • Student Accommodation
  • Study
  • Universities
  • Wellness

Contact Us

Floor 3, Plot No.-8,
8 Square Building, Sector 125,
Noida – 201301

+91 82879 02210
+44 204 509 9650
+61 386 090 060
+1 347 416 5984

Follow Us

No Result
View All Result
  • Home
  • Wellness
  • Money
  • Accommodation
  • Lifestyle
  • Study
  • Entertainment
  • Miscellaneous

Site is launched with in Association with University Living

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Skip to toolbar
  • About WordPress
    • WordPress.org
    • Documentation
    • Support
    • Feedback
  • Log in