England Guide
Money
Britain's currency is the pound sterling (£), divided into 100 pence (p). Coins come in denominations of 1p, 2p, 5p, 10p, 20p, 50p and £1 and £2. Notes are in denominations of £5, £10, £20 and £50. Scottish and Northern Irish banknotes are legal tender throughout Britain, though some traders may be unwilling to accept them.
Every sizeable town and village has a branch of at least one of the main high-street banks: Barclays, Halifax, HSBC, Lloyds-TSB and NatWest. The easiest way to get hold of cash is to use your debit card in an ATM; there's usually a daily withdrawal limit of £250. You'll find ATMs outside banks, at all major points of arrival and motorway service areas, at most large supermarkets, some petrol stations and even in some pubs, rural post offices and village shops (though a charge may be levied on cash withdrawals at small, stand-alone ATMs). Depending on your bank and your debit card, you may also be able to ask for "cash back" when you shop at supermarkets.
Some overseas travellers still prefer sterling traveller's cheques, at least as a back-up. The most commonly accepted are issued by American Express, followed by Visa. American Express will not charge commission if you exchange cheques at their own offices, nor will some banks (such as NatWest) – otherwise you will be charged 2–3 percent commission. Note that in the UK you are unlikely to be able to use your traveller's cheques as cash – you'll always have to cash them first, making them an unreliable source of funds in more remote areas.
Outside banking hours, you can change cheques or cash at post offices and bureaux de change – the latter tend to be open longer hours and are found in most city centres, and at major airports and train stations. Avoid changing cash or cheques in hotels, where the rates are normally poor.
Credit cards can be used widely either in ATMs or over the counter. MasterCard and Visa are accepted in most hotels, shops and restaurants in Britain, American Express and Diners Club less so. Plastic is less useful in rural areas, and smaller establishments all over the country, such as B&Bs, will often accept cash only.