England’s currency is the British pound sterling (£) which is divided into 100 pence. Coins come in copper 1p and 2p, the 5p, 10p, 20p, and 50p are silver, the £1 is gold in color, and the £2 coins are silver with a gold-colored rim. Bank notes come in denominations of £5, £10, £20, and £50. Avoid the £50 notes, which are difficult to cash because fakes often circulate.

ATM machines are plentiful in England, and using your ATM card will generally give you the best exchange rate available. It is important to note, however, that many banks and ATM machines will charge large transaction fees in addition to conversion fees each time your ATM card is used. For specific charges and procedures, please contact your personal bank.

If using travelers checks, post offices, recognizable by the red signs, will provide the best exchange rate, as they do not charge service and convenience fees.

How much is the British pound (£) worth?
With the pound in constant flux, please see www.oanda.com for up-to-date exchange rates.

Former students have given us some idea of what you should expect to spend per week while in London. Due to the changes in exchange rates and differences in individual spending habits, we can only offer estimated figures. Based on past programs, most students seem to spend about $200 to $400 per week. This figure does not include extravagant traveling on the weekends or heavy shopping. Please keep in mind that some students spend less and others more.

*PLEASE NOTE: Due to the exchange rate, England can be very expensive, especially in London! It is better to budget more money than less!