If you are a student planning to study or travel in the UK, understanding the rate of currency exchange in London is essential. Whether you are managing tuition fees, accommodation expenses, or daily spending money, knowing where and how to exchange currency in London can help you save money and avoid hidden fees.
In this comprehensive guide, we will cover everything about currency exchange in London, including the best exchange rates to student-friendly options, trusted providers, hidden charges, and expert tips to maximize your currency conversion.
Table of contents
- What is Currency Exchange in London?
- Where Can Students Exchange Currency in London?
- Best Places for Currency Exchange in London
- Different Ways to Exchange Currency in London
- Common Currencies Exchanged by Students in London
- Best Practices for Currency Exchange in London
- FAQs on Currency Exchange in London
What is Currency Exchange in London?
Currency exchange in London is the process of converting your home currency into British Pounds (GBP). As an international student in London, you’ll need to exchange money for tuition, rent, food, transportation, and other expenses. Choosing the right currency exchange in London can help stretch your student budget.
Factors That Affect London Currency Exchange Rates
Factors that affect currency exchange rates in London are current market rates, economic conditions of a London, bank and bureau fees and payment method you choose. Lets understand these factors that affect currency exchange rate in London in detail:
- Market Rates: The exchange rate fluctuates due to supply and demand in the foreign exchange market.
- Economic Conditions: Inflation, interest rates, and economic stability affect currency values.
- Bank & Bureau Fees: Many providers charge extra fees, so it’s crucial to check the total cost before exchanging money.
- Payment Method: Cash, bank transfers, and digital platforms may have different rates and fees.
Understanding these factors will help you get the best possible currency exchange in London.
Also Read: Every study abroad student must know about the strategies for studying at expensive destinations. Learn about Currency Exchange Strategies for Studying in Expensive Destination.
Where Can Students Exchange Currency in London?
As a student, you have multiple options for London currency exchange, such as banks, exchange bureaus, online currency exchange platforms, and airport currency exchange. Here are the best choices:
1. Exchange Currency in London with Banks
Major UK banks like Barclays, HSBC, and Lloyds offer London currency exchange services, but their rates might not always be the best. They also charge higher fees for small transactions, which may not be ideal for students.
2. London Currency Exchange form Bureaus
If you’re looking for better currency exchange rates in London, visit well-known exchange bureaus such as:
- Thomas Exchange Global – Competitive exchange rates with no commission.
- Eurochange – Available at multiple locations with student-friendly services.
- Moneycorp – Trusted for both online and in-person currency exchange in London.
3. Online Currency Exchange Platforms
Many students prefer digital platforms for currency exchange in London due to convenience and cost savings:
- Wise (formerly TransferWise) – Offers real exchange rates with low fees.
- Revolut – Provides a student-friendly multi-currency account.
- PayPal & Skrill – Useful for online purchases and sending money internationally.
4. Avoid Airport Currency Exchange
While exchanging money at Heathrow or Gatwick Airport might be convenient, it comes with high fees and poor exchange rates. Try to exchange your money before arriving in London or use an online service for the best currency exchange rates in London.
Best Places for Currency Exchange in London
To get your money sorted in London, you need to find the best place for currency exchange in London. And as most dealers and vendors claim to offer ‘the best’ and ‘most competitive’ exchange rates, this isn’t true. You must be careful when deciding how to get the best deal possible for London currency exchange.
There are two of the most popular currency exchange companies in London- Travel and Moneycorp. Besides, let’s have a look at other companies that offer currency exchange services in London.
| Places | Details | Contact No. |
| Travelex | – Has multiple branches across London, including locations at airports, major train stations, and central areas. – Locate them at Heathrow, Gatwick, and Stansted airports, as well as at Victoria Station, Liverpool Street Station, and other tourist hubs. | +44 345 872 7627 |
| Eurochange | – Various branches in London, often situated in key shopping areas and transport terminals. – Locations include Oxford Street, Leicester Square, and Canary Wharf. | +44 20 3915 8541 |
| Thomas Exchange Global | – It has offices in London’s financial district and other central areas. – Offices are located in areas such as Liverpool Street, Victoria, and London Bridge. | +44 20 7828 1880 |
| ICE- International Currency Exchange | – Operates in various locations across London, including airports, train stations, and popular tourist spots. – They have kiosks at Heathrow, Stansted, and Luton airports, as well as at Waterloo Station and Westminster. | +44 20 7287 1508 |
| Moneycorp | – Moneycorp has Branches at Gatwick Airport. | +44 20 7589 3000 |
Different Ways to Exchange Currency in London
There are risks associated with exchanging currency that can impact your budget. It is best to know about it. To overcome those risks, you must also be aware of the multiple options to exchange money in London. Some of the easiest and most convenient ways of currency exchange in London are –
Some of the easiest and most convenient ways for London currency exchange are –
Exchanging Money before Travelling
The ideal thing to do is to get the local currency in advance before your travel plans. You can simply visit the bank and get the London currency exchanged. Usually, banks charge up to 10% of the commission on the current exchange rates.
Exchanging Money at Banks
If you haven’t considered exchanging before travelling, you can visit banks in London and get the London currency exchange done. However, most banks in the UK do not offer currency exchange services to non-account holders. So, it is best to get it exchanged before travelling.
Withdrawing Money from the ATMs
The easiest way to exchange currency in London is, once you reach London you can withdraw Pounds directly from the ATMs in London. This is one of the cheapest options as it has lower exchange rates. It is advisable to take a substantial amount of money when withdrawing money from ATMs, this is because some banks charge might charge you $5 every time you use a foreign bank.
Currency Exchange Services
You can utilise reputable currency exchange services available at airports, banks, post offices, and currency exchange offices across London. These services often charge fees or offer slightly lower exchange rates but provide convenience and reliability.
Traveller’s Checks
Though less common in today’s time, traveller’s checks from reputable issuers can be exchanged at banks or specific businesses. However, they might not be accepted everywhere and might involve additional fees.
Prepaid Travel Cards
You can also purchase prepaid travel cards before travelling to London, and load them with the desired currency. These cards offer security, convenience, and fixed exchange rates, often with lower fees compared to credit cards.
Also Read: If you are coming back to India after your International travel and left with foreign currency, then check this blog on How to Exchange Foreign Currency for Indian Rupee.
Common Currencies Exchanged by Students in London
As a global student hub, London attracts students from all over the world. The most commonly exchanged currencies in London include:
- US Dollar (USD)
- Euro (EUR)
- Indian Rupee (INR)
- Chinese Yuan (CNY)
- Nigerian Naira (NGN)
- Australian Dollar (AUD)
Before exchanging, always check the latest currency exchange rates in London to get the best value for your money.
Best Practices for Currency Exchange in London
To make the most of your currency exchange in London, follow these key strategies:
- Compare Exchange Rates: Rates differ across providers, so use online tools to find the most competitive options.
- Avoid Airport Currency Exchanges: While convenient, airport kiosks generally offer poor rates due to high fees. Plan ahead and exchange money elsewhere.
- Watch Out for Hidden Charges: Some services advertise “zero commission” but compensate with unfavorable exchange rates. Always calculate the actual cost.
- Use ATMs Wisely: While ATMs provide easy access to cash, they may include foreign transaction and withdrawal fees. Check with your bank for cost details.
- Opt for Prepaid Travel Cards: These cards allow you to load multiple currencies, offering better rates and increased security compared to carrying large amounts of cash.
By keeping these tips in mind, you can ensure a smooth and cost-effective currency exchange experience in London.
As a student in London, getting the best currency exchange in London means doing a little research and planning ahead. Avoid airport exchanges, compare rates online, and use digital banking solutions for better savings.
FAQs on Currency Exchange in London
To exchange currency in London, you can consider some of the best currency exchange companies like Travelex, Eurochange, and Moneycorp.
As of Dec 2025, 1 GBP = 110.72 INR.
Yes, RBI allows you to exchange currency 60 days before your travel plans. To avoid last-minute expenses, it is better to research and exchange your money before travelling.
The official currency used in London, UK is the Pound Sterling. You cannot use the Indian rupee to make transactions.
Yes, you can use ATMs in London to withdraw cash. But, make sure to keep a check on the number of transactions you make. Banks charge some fees for every transaction that you make, so it is better to make a withdrawal of a substantial amount.
Students can find the best London currency exchange options at banks, exchange bureaus like Thomas Exchange Global and Eurochange, online platforms such as Wise and Revolut, and ATMs. Comparing exchange rates and fees across these options ensures you get the best value for your money.
Exchanging some currency before traveling helps avoid high airport exchange rates, but using ATMs or online platforms in London may provide better rates.
Major banks like Barclays, HSBC, and Lloyds provide currency exchange in London, though their rates may not always be the best.
Yes, currency exchange at London airports often comes with poor exchange rates and high fees. It’s better to exchange money beforehand or use ATMs.
Yes, prepaid travel cards provide better exchange rates, security, and lower transaction fees compared to cash or credit cards.
To get the best currency exchange in London, compare rates online, avoid airport exchanges, use ATMs wisely, and consider digital banking solutions.
This was all about exchanging currency in London. It is best to consider the tips discussed while exchanging currency and keep an eye out for current exchange rates in the market to avoid paying higher currency conversion fees.
Make sure to research well and consider the given tricks. To know more about education loans, the best bank accounts for students, forex and banking experience for global students or international money transfers, reach out to our experts at 1800572126 to help ease your study abroad experience.
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