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Before you leave, check your card’s foreign-transaction and ATM fees. When a terminal or cash machine offers to convert the charge into your home currency, choose GBP or pounds if you want your card network or issuing bank to handle the conversion. Also learn the difference between Bank of England notes and Scottish or Northern Irish notes, particularly if your itinerary crosses regions.
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UK currency at a glance
| Item | What to know |
|---|---|
| Currency | Pound sterling |
| Symbol | £ |
| Subdivision | 100 pence (often written as “p”) |
| Bank of England notes | £5, £10, £20 and £50, all polymer |
| Circulating coins | £2, £1, 50p, 20p, 10p, 5p, 2p and 1p |
| Most widely accepted payment methods | Visa and Mastercard cards, contactless cards and mobile wallets |
For general travel-planning information, VisitBritain’s currency and useful-information guide is a helpful reference. Do not use an old online exchange-rate example to estimate your trip cost: the pound-to-dollar or pound-to-euro rate changes constantly. Check your card issuer, a reputable currency converter, or the transaction screen immediately before spending.
What UK notes and coins look like
Bank of England notes
Current Bank of England notes are polymer notes in four denominations:
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- £5: features Winston Churchill and is a useful small note for cafés, snacks, transit-related purchases and tips.
- £10: features Jane Austen and is a common everyday denomination.
- £20: features J.M.W. Turner. It is widely used, although a very small business may be cautious about accepting larger notes.
- £50: features Alan Turing. It is a current, valid note—not an invalid denomination—but smaller merchants may be less willing or able to accept it because they keep limited change or have cash-handling policies.
The Bank of England’s current banknotes guide shows the designs and security features. The notes may carry either the portrait of King Charles III or Queen Elizabeth II. King Charles III notes entered circulation on June 5, 2024, but Elizabeth II notes remain legal tender and circulate alongside them. This is not a currency change: you do not need to exchange one portrait for the other.
Coins
The eight circulating UK coin denominations are £2, £1, 50p, 20p, 10p, 5p, 2p and 1p. They differ in size and shape, so it can take a little practice to identify them quickly. The £1 and £2 coins are the most useful higher-value coins for everyday purchases; the smaller coins commonly appear as change.
A small travel coin purse is an optional but practical way to keep the eight denominations from collecting loose in a pocket or mixing with cards. It is an organizational convenience, not a reason to carry a large amount of cash: contactless payment is widely available in Britain.
“Legal tender” does not mean every shop must accept a note
Legal tender is a narrow technical concept concerning the settlement of debts. It does not require every retailer, café or market stall to accept every denomination or every payment method. A business can choose to be card-only, cash-only, contactless-only, or impose a minimum card spend.
The Royal Mint’s technical legal-tender limits also do not guarantee retail acceptance. Its table says that 1p and 2p coins count as legal tender only up to 20p; 5p and 10p coins up to £5; and 20p and 50p coins up to £10. £1 and £2 coins have no stated limit in that table. These limits matter mainly in the technical context of settling debts, not as a promise that a shop will accept a jar of small change. See the Royal Mint legal-tender guidance for the details.
Old paper £20 and £50 notes
Older paper Bank of England £20 and £50 notes lost their legal-tender status on September 30, 2022. They should not be treated as spendable in ordinary shops.
The Bank of England continues to exchange withdrawn Bank of England notes under its procedures, but a traveler should not assume that a retailer, overseas exchange desk or another bank will accept an old paper note. If you receive one, consult the Bank of England’s withdrawn-banknote information rather than trying to spend it casually.
Scottish and Northern Irish banknotes are genuine sterling
Banknotes issued in Scotland and Northern Ireland can look very different from Bank of England notes. That does not make them counterfeit or worthless. They are genuine sterling banknotes issued by authorized commercial banks under a specific regulatory framework.
In Scotland, the authorized note-issuing banks are:
- Bank of Scotland
- Clydesdale Bank
- The Royal Bank of Scotland
In Northern Ireland, the authorized issuers are:
- Bank of Ireland (UK)
- Danske Bank
- NatWest, which trades as Ulster Bank in Northern Ireland
These notes have the same face value as Bank of England notes, but practical acceptance can vary outside the region where they were issued. They may be accepted freely in many places, while another retailer may decline them because staff are unfamiliar with the design or because of cash-handling policy.
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The safest approach is to use Scottish notes in Scotland and Northern Irish notes in Northern Ireland, or spend or exchange them before crossing into another region. If you are obtaining cash for a trip around the UK, ask whether Bank of England notes are available. The Bank of England explains the status of Scottish and Northern Ireland banknotes; VisitBritain also provides practical travel guidance.
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Do not confuse notes from Scotland or Northern Ireland with notes from the Isle of Man, Jersey or Guernsey. Those jurisdictions are outside the UK and issue their own banknotes. A note from one of them should not automatically be assumed to work on the UK mainland.
Cards, contactless and mobile wallets
Visa and Mastercard are the most common card networks in Britain. American Express and Diners Club are accepted less consistently, so do not make them your only payment method.
Contactless cards and mobile wallets are widely used in the UK, including for many everyday purchases and transport-related payments. However, some small shops, markets and cafés may be cash-only, may not accept a particular card network, or may require a minimum spend. A mobile wallet can also fail because of a depleted phone battery, an account or wallet setting, or a malfunctioning terminal.
Carry at least one physical card even if you normally pay by phone. Store a second card separately from the first in case your wallet is lost, blocked or retained by an ATM.
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Contactless limits can change
UK Finance’s December 2025 guidance describes a £100 single-transaction limit for contactless cards and a background limit that can trigger a PIN entry. Banks with stronger fraud controls have flexibility to change limits, although most customers were not expected to see immediate changes under that guidance. Mobile payments are handled differently because the phone verifies the user and are not subject to the same fixed £100 card limit.
For that reason, treat the terminal and your card issuer’s current rules as authoritative rather than assuming one permanent contactless limit. If a contactless payment is declined, insert the card and enter your PIN, use another payment method, or ask the merchant what it accepts. UK Finance provides the latest contactless-card information.
How to minimize card, exchange and ATM fees
- Check your card terms before departure. Look for foreign-transaction fees, overseas spending fees, cash-advance fees, ATM fees, daily cash limits and any restrictions on international use.
- Check fraud controls. Some issuers want advance travel information; others monitor travel automatically. Make sure you know how to approve a declined transaction while abroad.
- Use a card with sensible foreign-exchange costs. A Visa or Mastercard may use the network’s exchange rate, while your issuing bank can add a currency-conversion fee or a separate spending or cash fee. Compare the complete cost, not just the advertised exchange rate.
- Prefer reputable or bank-operated ATMs. Read the fee screen before confirming. If the machine’s charge is unacceptable, cancel rather than assuming it will be waived later.
- Withdraw modest amounts. A larger withdrawal can reduce repeated fixed ATM fees, but carrying more cash increases loss and theft risk. Your own card’s fee schedule determines the right balance.
- Keep receipts for large or disputed transactions. They make it easier to identify a duplicate charge, incorrect conversion or merchant dispute.
MoneyHelper explains that both the card issuer and the cash machine may add costs, including currency-conversion, spending, cash and one-time ATM fees. Its debit-card guidance is a useful starting point for checking the fee categories that apply to your card.
Decline dynamic currency conversion when appropriate
At a UK card terminal or ATM, you may be asked whether you want to pay in pounds or in your home currency. This is called dynamic currency conversion (DCC). The merchant or ATM converts the pound amount and may include a markup or additional fee.
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Visa says the offer should show both currencies, the exchange rate and additional fees or markup, and that you must be given a choice. If your cost-conscious default is to have your card network or issuing bank perform the conversion, select GBP/pounds and decline the home-currency conversion. This is not a guarantee that every issuer’s rate will be cheapest, so compare the terms of your card before traveling.
In practical terms, “pay in pounds” means the terminal should charge your card the sterling amount. “Pay in dollars,” “pay in euros” or another home currency means the merchant or ATM is performing the conversion. Visa’s DCC explanation describes the information that should appear on the screen.
Where to get pounds
You can obtain sterling from banks, travel agents, post offices, bureaux de change and cash machines. Rates and fees vary. An airport exchange desk is convenient, but convenience alone does not make it the best-value option. Before exchanging cash, compare:
- the actual exchange rate;
- the spread between the provider’s buy and sell rates;
- commission or service fees;
- delivery or pickup fees;
- the cancellation and refund terms; and
- the rate and fees of withdrawing from an ATM after arrival.
If you want cash before departure, compare exchange rates before buying pounds using current provider information rather than relying on a generic “no commission” claim. A provider can advertise no commission while building its cost into the exchange-rate spread.
How much cash should you carry?
There is no universally correct amount. The right reserve depends on your itinerary, card fees, access to ATMs, spending habits and tolerance for carrying cash. A sensible plan is:
- arrive with a small emergency reserve, or withdraw a modest amount after arrival;
- request smaller notes when possible rather than relying on £50 notes;
- keep a separate backup card;
- carry a small coin pouch or zippered compartment for change; and
- avoid carrying more cash than you expect to use in the near term.
Contactless is widely usable, but cash remains a safe backup when you first arrive or encounter a cash-only business. A travel wallet with a coin pocket can be useful if you want one compact organizer for cards, notes and coins. Choose one that separates those items; do not assume that an accessory’s RFID or anti-theft claims are proven simply because they appear in a product listing.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.Cash declaration rules for large sums
Most visitors will never approach the declaration threshold, but the rules matter if you carry substantial cash or equivalent instruments.
Great Britain: England, Scotland and Wales
When traveling between Great Britain and a country outside the UK, you must declare cash equivalent to £10,000 or more to UK customs. The threshold applies to the total carried by a family or group, even if no individual person holds £10,000.
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Northern Ireland
Northern Ireland has separate route-specific rules. Cash of €10,000 or more must be declared on specified routes between Northern Ireland and a non-EU country, and when arriving in Northern Ireland from Great Britain. Under the cited guidance, no declaration is required when traveling from Northern Ireland to Great Britain.
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Northern Ireland’s definition can additionally include money orders, gold coins, gold bullion or nuggets, and prepaid cards. Because the route rules and thresholds can change, consult the current GOV.UK page if you are carrying a large amount or traveling through Northern Ireland. Do not assume that the Great Britain rule automatically covers every Northern Ireland journey.
How to check a suspicious note
Counterfeit Bank of England notes are uncommon. The Bank of England reported that in 2025 typically fewer than 0.0041% of banknotes were counterfeit—less than one in 24,390—and that approximately 200,000 counterfeit notes were removed from circulation. Even so, do not ignore an obviously suspicious note.
For current Bank of England polymer notes, practical checks include:
- the large see-through window;
- the portrait and denomination around the window;
- the metallic foil and hologram, which changes as the note is tilted;
- raised print that can be felt;
- the denomination-specific foil and smaller window on £20 and £50 notes; and
- ultraviolet features, if a proper UV light is available.
You do not need to pack a counterfeit detector for an ordinary holiday. Visual and tactile checks are the practical first step. If a note appears suspicious, do not knowingly pass it to another person; ask the Bank of England, your bank or the relevant authorities what to do. Its counterfeit-banknote guidance includes the current security information.
A fee-conscious UK currency plan
- Before booking or departure: check your card’s foreign-spending fee, ATM fee, daily cash limit and international-use controls.
- Pack two payment methods: take a physical primary card and a separate backup card. Add a mobile wallet if convenient, but do not rely on a phone alone.
- Prepare a small cash reserve: bring or obtain a modest amount of pounds, preferably in £5, £10 and £20 notes rather than only £50 notes.
- Organize the coins: use a small pouch or zippered compartment once you start receiving £2 through 1p coins.
- At the terminal: if offered DCC, review the displayed rate and fees. Choose GBP when you want your card network or issuer to perform the conversion.
- At the ATM: use a reputable machine, read every fee screen and cancel if the charge is unacceptable.
- Across regions: use Scottish or Northern Irish notes locally, or spend or exchange them before crossing regions.
- For large sums: check and complete the applicable GOV.UK cash declaration before traveling.
- During the trip: keep receipts for large purchases and keep your backup card and emergency cash separate from your everyday wallet.
Frequently Asked Questions
Do I need to exchange Queen Elizabeth II notes for King Charles III notes?
No. Bank of England notes bearing either portrait can circulate together. Elizabeth II notes remain legal tender; the portrait change does not alter the value or denomination.
Are Scottish and Northern Irish banknotes real pounds?
Yes. They are genuine sterling notes issued by authorized banks. However, acceptance outside Scotland or Northern Ireland can be less predictable, so use them locally or exchange them before crossing regions.
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When a card terminal or ATM offers dynamic currency conversion, choosing GBP or pounds is generally the cost-conscious default if you want your card network or issuer to handle the conversion. Check your card’s terms because the cheapest option depends on the issuer.
Can I use an old paper £20 or £50 note?
Not normally. Old paper Bank of England £20 and £50 notes lost legal-tender status on September 30, 2022. The Bank of England can still exchange withdrawn Bank of England notes under its procedures, but retailers may not accept them.
Do UK shops have to accept cash?
No. Legal tender does not require every business to accept every form of payment. Retailers can set their own policies, including cash-only, card-only or minimum-spend policies.
The Bottom Line
The practical answer is a combination, not an either-or choice: use a card or mobile wallet for most purchases, keep a modest reserve of pounds in smaller notes, organize the UK’s eight coin denominations, carry a physical backup card, and choose GBP rather than accepting an unexplained home-currency conversion. Regional notes are genuine sterling but may be inconvenient outside their issuing region, and cash of £10,000 or more—or the applicable Northern Ireland equivalent and route threshold—requires careful checking of the current customs rules.
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