London is one of the most vibrant cities in Europe and attracts millions of visitors each year.
For those visiting London from countries outside the European Union, getting euros may be a necessity, either for travel or business purposes.
In this article, we will explore the various ways to get euros in London.
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What Are The Ways To Get Euros In London?
Fortunately, there are several ways to obtain euros in the city, ranging from currency exchange services to ATMs and banks.
Each method has its advantages and disadvantages, so it’s important to choose the one that best suits your needs.
Here are some of the ways to get euros in London:
- Exchange at a Bank or Bureau de Change
The easiest way to get euros in London is to exchange your currency at a bank or a Bureau de Change.
Most banks in London offer currency exchange services, and it is usually best to use a bank that you have an account with.
You can also use a Bureau de Change, which can be found at airports, train stations, and tourist areas. However, be aware that Bureau de Change may have higher commission rates and exchange fees than banks.
- Use an ATM
Another way to get euros in London is to use an ATM. You can withdraw euros from an ATM using your debit or credit card, but make sure your card is set up for international use.
Most major banks and building societies in London have ATMs that dispense euros.
It is also worth checking with your bank to see if they have any partnership agreements with banks in Europe that may offer better exchange rates or reduced fees.
- Exchange at the Post Office
The Post Office in London also offers currency exchange services, including euros.
They have over 11,500 branches across the UK, and you can also order your euros online and have them delivered to your doorstep.
The Post Office’s exchange rates are competitive, and they often offer promotions and discounts for online orders.
- Use a Prepaid Travel Card
Prepaid travel cards are a convenient way to get euros in London. You can load the card with euros before you travel and then use it like a debit card while you are abroad.
You can also use it to withdraw cash from ATMs. Some popular prepaid travel cards that are available in London include Revolut, Monzo, and TransferWise.
- Use a Currency Exchange App
There are various currency exchange apps available that allow you to exchange your currency digitally.
These apps usually offer competitive exchange rates and can be a convenient way to get euros in London.
Some popular currency exchange apps include TransferWise, Revolut, and CurrencyFair.
- Exchange Online
You can also exchange your currency online and have the euros delivered to your doorstep. This is a convenient option if you don’t have time to go to a bank or a Bureau de Change.
You can use online currency exchange services such as Travelex, Moneycorp, or ICE, which offer competitive exchange rates and a range of delivery options.
- Use a Peer-to-Peer Currency Exchange Platform
Peer-to-peer currency exchange platforms, such as TransferWise, allow you to exchange your currency with other individuals at a competitive rate.
This can be a cost-effective way to get euros in London, as there are no hidden fees or commission charges.
However, be aware that the process may take longer than traditional currency exchange methods, and you will need to set up an account with the platform.
What Banks In London Offer Euro Exchange?
There are many banks in London that offer euro exchange services, including:
- Barclays Bank
Barclays Bank has a large presence in London and offers foreign currency exchange services at many of its branches. They also offer euro accounts for businesses and individuals.
- HSBC Bank
HSBC Bank is another major bank in London that offers foreign currency exchange services, including euros. They also offer euro accounts and euro credit cards.
- Lloyds Bank
Lloyds Bank is a popular bank in London that offers foreign currency exchange services at many of its branches.
- NatWest Bank
NatWest Bank is part of the Royal Bank of Scotland Group and offers foreign currency exchange services at many of its branches in London.
- Santander Bank
Santander Bank is a Spanish bank that has a large presence in London and offers foreign currency exchange services, including euros.
It’s important to note that exchange rates and fees may vary among different banks, so it’s always a good idea to compare rates and fees before exchanging currency.
Additionally, some banks may require you to have an account with them in order to exchange currency, so it’s worth checking in advance.
What Are The Peer-To-Peer Currency Exchange Platforms In London?
There are several peer-to-peer currency exchange platforms that operate in London, which allow individuals and businesses to exchange currencies directly with one another.
These platforms often offer competitive exchange rates and low fees compared to traditional currency exchange methods.
Here are a few examples of peer-to-peer currency exchange platforms that operate in London:
- TransferWise
TransferWise is a popular peer-to-peer currency exchange platform that allows users to exchange currencies with other users at the mid-market rate, which is the real exchange rate that banks use when they trade currencies with one another.
TransferWise charges a small fee for each transaction, which is often lower than the fees charged by traditional currency exchange services.
- CurrencyFair
CurrencyFair is another peer-to-peer currency exchange platform that operates in London.
Like TransferWise, CurrencyFair allows users to exchange currencies with other users at the mid-market rate and charges a small fee for each transaction.
CurrencyFair also offers a multi-currency account that allows users to hold and exchange multiple currencies.
- WeSwap
WeSwap is a peer-to-peer currency exchange platform that allows users to exchange currencies with other users at a rate that is typically 2-4% above the mid-market rate.
WeSwap charges a small fee for each transaction, which varies depending on the currency being exchanged and the type of account being used.
- Xendpay
Xendpay is a peer-to-peer currency exchange platform that operates in London and allows users to exchange currencies with other users at the mid-market rate.
Xendpay charges a small fee for each transaction, which is often lower than the fees charged by traditional currency exchange services.
Xendpay also offers a charity service that allows users to make a donation to a charity of their choice when they exchange currencies.