Money

Money

The official currency in the UK is the British Pound Sterling (GBP), and is decimal based like the dollar, there are 100 pence in a pound. The coins are 1p, 2p, 5p, 10p, 20p, 50p, £1, £2. The notes start at £5, £10, £20, and £50 pounds. You won’t often see the larger notes any more to combat loss to counterfeits. There are other currencies as well, though I’m under the understanding that in Scotland, some of the Channel Islands and elsewhere, they have their own printed/minted coins and notes, they are exchanged at the equivalent of the Pound Sterling. Scottish notes are legal tender in the rest of the UK, but Channel Islands notes and coins are not.

Currency Conversion

Coins and Notes

Coins

Notes

The Euro

The Euro is a topic of great debate. In short, it is a “new” currency that has begun in recent years in the European Union. Britain however has not gone in as of yet. They are waiting to see how it goes in the other countries before they join, and there is a strong public opposition to doing so. There are very few shops that are taking the Euro so it is not advisable to use Euros if visiting, you also will get a lousy exchange rate in the shops that do.

There is more about the Euro here, The Euro Debate.

Comments:

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1

Early this month I sent a $500 Bank of America personal check to my sister in England. She put it into her account at the Yorkshire Bank. I was shocked to hear today that she only got 202.67 sterling for that check. Even with the current exchange rate of about $2 to the pound that is a rip-off. I grew up in the UK and I've long had the opinion it's the land of the rip-off. This confirms it. Thank God I live in the USA.

John Fahey

2007-04-25 19:03:15

John Fahey

2

Well, having grown up here in the United States, I can honestly state that you currently living in the land built on the rip-off. Manhatten bought for $24 in cheap beads, Land stolen from all of the Native people, Microsoft having a lock on every single PC in the world, and a government that spends hundreds of dollars on a single toilet seat. I'll tell you what, you can have the US, I'll take the UK any day!!

2007-10-17 22:09:14

J Nathan

3

Also, there are many people in the US who are dying from inability to have medical treatment.

I'd rather be poor and alive then poor from paying medical bills and still getting turned down for services I need.

2007-11-07 09:59:15

Brittany

4

The US is a rip off. Everyone is dying of AIDS and Herpes and STDs and alot of people are obeist. UK is alot better.

2007-12-16 20:58:09

Joey

5

Three Scottish banks have the right to issue banknotes in the UK: Bank of Scotland, Royal Bank of Scotland and Clydesdale Bank. All their notes are different, and Scots folk are very proud of them. But they are often refused in the South of England, despite being legal tender.

2008-02-17 07:59:07

hfroud

6

Technically speaking no bank notes are legal tender in Scotland whether they be issued by the Bank of England or the Scottish Banks. However, bank notes are accepted as "reasonable payment". Bank of England notes are legal tender in England and Wales but are of course accepted in the other parts of the UK. Bank notes issued by the Scottish banks are accepted in England but are rarely seen or used south of the border. This is the same for Northern Ireland bank notes.

2008-05-28 05:19:43

Stu

7

kkk

2008-09-17 18:41:39

dd

8

It states at the top of the page "The notes start at £5, £10, £20, £50, and £100"

There is no £100 note in the UK, the £50 note is the highest denomination in value in the UK.

http://www.bankofengland.co.uk/banknotes/current/current_50.htm

2008-11-05 23:53:48

Les

9

Err, yes there are £100 notes issued in the UK - by the Bank of Scotland, the Royal Bank of Scotland, the Clydesdale Bank, the Bank of Ireland, First Trust Bank, and Northern Bank.

Also there are still £1 notes issued by the Royal Bank of Scotland, the Isle of Man Government, the States of Jersey, and the States of Guernsey.

2009-10-06 19:23:22

Arwel

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