So, you're heading to the UK and wondering what’s going to be in your wallet. It sounds like a simple question. Most people just say "the pound" and leave it at that. But honestly, if you’ve ever stood at a London checkout with a handful of Scottish notes while the cashier gives you a funny look, you’ll know it’s a bit more nuanced than a single word.
The official name is Pound Sterling. You’ll see it written as GBP or simply with the £ symbol. It’s the oldest currency in the world still in use, which is kinda wild when you think about it. It’s survived wars, empires, and even the invention of the internet.
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What Currency Do The British Use Every Day?
The basics are pretty straightforward. One pound is made up of 100 pence. We usually just call them "p" or "pee." If you're buying a chocolate bar for 80p, you'd say "eighty pee."
The coins come in a bunch of weird shapes and sizes. You’ve got the tiny 1p and 2p (the "coppers"), the silver 5p, 10p, 20p, and 50p, and then the chunky gold-and-silver colored £1 and £2 coins. The 50p and 20p coins aren't even round—they're seven-sided heptagons. Why? Basically, so you can tell them apart in your pocket without looking.
Then there are the notes. The Bank of England issues £5, £10, £20, and £50 notes. You won't see a £100 note in England. If someone tries to hand you one, it’s probably fake or a very rare Scottish/Northern Irish version that might be a pain to spend elsewhere.
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The King Charles III Transition
Right now, in early 2026, we're in a bit of a transition period. For decades, every note and coin had Queen Elizabeth II on it. Now, you’ll see King Charles III appearing on more and more money. The cool thing is that both are legal tender. You don’t need to worry if your tenner has the late Queen on it; it’s still worth exactly ten pounds. The Bank of England is only printing new King Charles notes to replace worn-out ones, so the "old" ones will be sticking around for a long time.
The "Legal Tender" Trap
This is where it gets tricky. If you travel to Scotland or Northern Ireland, the local banks there—like the Royal Bank of Scotland or Bank of Ireland—actually print their own versions of the pound.
Technically, these aren't "legal tender" in England and Wales, but they are "legal currency."
What does that actually mean?
In plain English: a shop in London can accept a Scottish £20 note, but they aren't legally forced to. Most big chains will take them without a blink, but smaller shops or taxi drivers might get nervous because they don't see them often. If you're visiting the north and heading south later, try to spend your Scottish or Northern Irish notes before you leave, just to save yourself the "Can I use this?" conversation a dozen times.
How People Actually Pay in 2026
Cash is definitely not king anymore. You can go weeks in London or Manchester without touching a physical coin.
- Contactless is everywhere. From the "Tube" (the London Underground) to the smallest coffee cart in the Cotswolds, you just tap your card or phone.
- Apple Pay and Google Pay are the standard. You don't even need to carry a physical wallet if your phone has NFC.
- The £100 Limit. Contactless "taps" are usually capped at £100. If you’re buying something more expensive, you’ll have to shove your card in the machine and use your PIN.
Actually, some places are now "cashless." You’ll see signs in windows saying "Card Only." It’s becoming more common in trendy cafes and bars. On the flip side, some very old-school pubs or remote village shops might still have a "£5 minimum for card" rule, so keeping a "fiver" (£5 note) in your pocket is a smart move.
Slang You’ll Hear on the Street
If you want to sound like a local, stop saying "pounds."
- Quid: This is the most common word for a pound. "That'll be five quid, mate."
- Fiver: A £5 note.
- Tenner: A £10 note.
- Grand: £1,000.
Interestingly, there isn't really a common slang word for the £20 or £50 notes, probably because we use them less often. The word "quid" is the same whether it's one or a hundred—you never say "quids."
Tips for Getting the Best Rates
Don't get scammed by the convenience of airport exchange booths. The "No Commission!" signs are a total lie—they just bake the fee into a terrible exchange rate.
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If you need physical cash, the best way to get what currency the British use is usually just hitting an ATM (we call them "cashpoints") once you land. Use a travel-friendly card like Revolut, Monzo, or Starling if you can. These apps give you the "interbank" rate, which is basically the real value of the money without a bank taking a 3% cut.
If you have old paper notes from a trip ten years ago, you can't spend them. The UK switched to polymer (plastic) notes a few years back. They’re way harder to tear and survive a trip through the washing machine. If you have the old paper ones, you’ll have to take them to the Bank of England in London or a major Post Office to swap them.
Actionable Advice for Your Trip:
- Check your card's foreign transaction fees before you leave. If your bank charges $5 every time you tap, those "small" coffees will get expensive fast.
- Download a currency converter app like XE. It works offline and helps you realize that "cheap" £40 dinner is actually closer to $55.
- Carry one backup physical card. Machines occasionally fail, and if you're relying entirely on your phone's battery, a dead phone means a very awkward walk home from the restaurant.
- Don't tip like you're in the US. In the UK, a 10-12.5% tip is standard in restaurants (often added automatically as a "service charge"), but you don't need to tip at bars or for quick coffee.
The pound might feel a bit heavy in your pocket, and the different designs can be confusing, but once you get used to "tapping" your way through the day, it's one of the easiest currencies to navigate. Just remember: keep a few quid for the emergencies, and use your phone for everything else.