The 5 Best Places to Exchange Money in London

London Travel Guides / November 16, 2016
The 5 Best Places to Exchange Money in London Image credit: norgal

Being a reputable and dynamic global financial center, London is home to a myriad of money changers and many of them are well known for offering the best exchange rates in Europe.

Those good currency exchange offices have their locations near Leicester Square and Buckingham Palace Road. You can easily identify them with the signs that say “Bureau de Change” or “Money Exchange”. Occupying in-close-proximity-to-each-other commercial spaces, forex shops in these popular places make it easy for people to check rates around.

Before jumping to the list of recommended money changers below, it’s good to know these notes.

The currency used in England is the Pound Sterling. 1 pound is equivalent to 100 pence. If you want to sound like a local, you can just say “quid” when referring to a pound, and “p” for pence. Bills are issued in £1, £5, £10, £20, £50, and £100. Coins are in denominations of 1p, 2p, 5p, 10p, 20p, 25p, 50p, £1, £2, and £5.

Withdrawing pounds at ATMs, locally called cashpoints, using your ATM/credit cards is not recommended because the exchange rates you get are poorer than those offered at money exchange offices.

If you still prefer using cashpoints, find the machines that belong to banks as they do not charge withdrawal fee. ATMs placed at pubs or bars are usually independently managed and will impose transaction fees.

You are also advised to use the cashpoints that sit in banks or other brightly-lit and high-traffic locations. Some off-site machines could be tampered by skimmers, which can steal your card information.

And take note that traveler’s cheques are rarely used in London nowadays so you might find it hard to get them exchanged. A few forex shops do accept them but for a hefty fee.

Continue reading to know the 5 best places to exchange money in London and recommended money changers at those places.

1. Money Changers near Leicester Square

Money Changers near Leicester Square Image credit: Covent Garden FX

Two of the most highly rated money changers in London, which are Covent Garden FX and Thomas Exchange Global (Strand branch), are located near Covent Garden. This former fruit and vegetable market is just a short walk from Leicester Square.

Other currency exchange offices can be found near Charing Cross and in London’s Chinatown, which is located north of the square.

Many of Bureau de Changes around Leicester Square, the heart of entertainment in London, belong to well-established companies and are open daily.

Best rates for
– EUR
– USD
– JPY
– AUD
– CAD
– CHF
– CNY
– DKK
– NOK
– SEK

Recommended money changers
1. Covent Garden FX

– This is a renowned family-run business with rates that are usually the best in the market
– It is just a short walk from St. Paul’s Church, London Transport Museum, and Royal Opera House
– Address: 30A, Jubilee Market Hall, Henrietta St, London WC2E 8BE, UK
– Phone: +44 20 7240 9921
– Opening hours: Monday to Friday 09:30 – 18:00; Saturday 10:30 – 16:00
Daily rates

2. Thomas Exchange Global – Strand Branch
– Thomas Exchange Global is a famous forex chain in London, known for offering favorable rates and trustworthy service. This branch is one of its most crowded offices.
– Buys and sells American Express traveler’s cheques in USD, CAD, AUD, and EUR
– Over 120 foreign currencies available
– This branch location is right beside Vaudeville Theatre and a short walk from Adelphi Theatre and Savoy Theatre
– Address: 402 Strand, London WC2R 0NE, UK
– Phone: +44 20 7183 4197
– Opening hours: Mon to Fri 08:00 – 18:45; Sat 09:00 – 17:45; Sun 10:00 – 15:45
Daily rates

3. Change Group
– More than 20 years of experience in foreign exchange
– Located opposite Charing Cross Road entrance to Leicester Square tube, next to The Bear & Staff pub
– Address: 35 Charing Cross Rd, London WC2H 0AT, UK
– Phone: +44 20 7839 7880
– Opening hours: Mon to Wed 09:00 – 20:30; Thu to Sun 09:00 – 22:00

4. Moneycorp
– Providing foreign exchange service since 1979
– This is located in Chinatown and just a short walk from Queen’s Theatre and Gielgud Theatre
– Address: 78 Shaftesbury Ave, London W1D 6NE, UK
– Phone: +44 20 7287 9195
– Opening hours: Monday to Saturday 08:00 – 23:00; Sunday 09:00 – 22:30
Daily rates

5. Eurochange
– Providing currency exchange and remittance services for more than 40 years
– Accepts traveler’s cheques
– Located opposite Exit 3 of Leicester Square Tube
– Address: 45 Charing Cross Rd, London WC2H 0AN, UK
– Phone: +44 20 7439 2827
– Opening hours: Daily 09:00 – 22:00
Daily rates

How to get there
– By subway: Nearest subway station is Leicester Square
– By bus: Nearest bus stops are Leicester Square (Stop L/J), Southampton St Covent Garden (Stop A), and Dean Street Chinatown (Stop W)

2. Money Changers on and near Buckingham Palace Road

Money Changers on and near Buckingham Palace Road Image credit: Thomas Exchange Global

Much of the commercial activity near Buckingham Palace happens at the southwestern side of this famous landmark. If you are looking for a good currency exchange office near the palace, head yourself to Buckingham Palace Road.

Buckingham Palace Road is easily accessible via Victoria Station. When arriving at Victoria Station, the central railway terminus of London, you can walk to Buckingham Palace Road to engage a money exchange service. You also have a choice to buy Pounds right at the station or at Victoria Street, which is just a short walk from the terminus.

A plus point of money changers in this area is that services are provided 7 day a week until late evening. Among those, Thomas Exchange Global at Victoria Place Shopping Centre has the most stamps of approval by the tourist crowd.

Best rates for
– USD
– JPY
– EUR
– AUD
– CAD
– CHF
– CNY
– DKK
– HKD
– SGD

Recommended money changers
1. Thomas Exchange Global – Victoria Place Branch

– Thomas Exchange Global is a famous forex chain in London, known for offering favorable rates and trustworthy service
– Buys and sells American Express traveler’s cheques in USD, CAD, AUD, and EUR
– Over 120 foreign currencies available
– Address: Unit 25, Victoria Place Shopping Centre, 115 Buckingham Palace Rd, London SW1W 9SJ, UK
– Phone: +44 20 3725 5735
– Opening hours: Mon to Frid 07:30 – 20:45; Sat 08:30 – 20:00; Sun 09:00 – 18:30
Daily rates

2. International Currency Exchange (ICE)
– Providing foreign exchange and money transfer services for more than 40 years
– Over 30 currencies available
– Located adjacent to Platform 7, Victoria Station, London SW1W 1JT, UK
– Phone: +44 20 3437 0702
– Opening hours: Daily 06:15 – 22:00

3. Eurochange
– Providing currency exchange and remittance services for more than 40 years
– Accepts traveler’s cheques
– Located next to the Shakespeare pub, opposite Grosvenor Gardens and the statue of soldier on horseback
– Address: 97 Buckingham Palace Rd, London SW1W 0RP, UK
– Phone: +44 20 7630 6547
– Opening hours: Daily 08:00 – 20:00
Daily rates

4. Access Bureau
– More than 20 years in currency exchange business
– This is within walking distance from Buckingham Palace, Victoria Palace Theatre, and Victoria Station
– Address: 201 Victoria St, London SW1E 5NE, UK
– Phone: +44 20 7821 6616
– Opening hours: Daily 08:00 – 21:00
Daily rates

5. Victoria Street FX
– This is just a short walk from Buckingham Palace, Victoria Palace Theatre, and Victoria Station.
– Address: 185 Victoria St, London SW1E 5NE, UK
– Phone: +44 20 7828 3482
– Opening hours: Monday to Saturday 08:30 – 20:30; Sunday 09:30 – 19:30
Daily rates

 How to get there
– By subway: Nearest subway station is Victoria Station
– By bus: Nearest bus stops are London Victoria Rail Station, Grosvenor Gardens Victoria Street (Stop R), and Victoria (Stop G)

3. Money Changers near Hanover Square

Money Changers near Hanover Square Image credit: International Currency Exchange

If you need local currency for your shopping trip at Oxford Street, one of the shopping paradises in London, you can change your money at forex shops right on Oxford Street or at other close-to-Hanover-Square streets.

The first change office in the area you should check out is the Oxford Circus Branch of Thomas Exchange Global, a London’s famous forex chain with trading service for over 120 foreign currencies.

Best rates for
– EUR
– USD
– AUD
– CAD
– CHF
– JPY
– CNY
– HKD
– KRW
– NOK

Recommended money changers
1. Thomas Exchange Global – Oxford Circus Branch

– Thomas Exchange Global is a famous forex chain in London, known for offering favorable rates and trustworthy service
– Buys and sells American Express traveler’s cheques in USD, CAD, AUD, and EUR
– Over 120 foreign currencies available
– Address: 5 Market Pl, Fitzrovia, London W1W 8AE, UK
– Phone: +44 20 7637 7336
– Opening hours: Monday to Friday 09:00 – 18:00; Saturday 10:00 – 17:00
Daily rates

2. International Currency Exchange (ICE)
– Providing foreign exchange and money transfer services for more than 40 years
– Over 30 currencies available
– The change office is a 5-minute walk from Hanover Square
– Address: 339 Oxford St, Mayfair, London W1C 2JB, UK
– Phone: +44 20 7491 7226
– Opening hours: Daily 08:00 – 21:30

 3. Moneycorp – House of Fraser branch
– Providing foreign exchange service since 1979
– It is just a short walk from Cavendish Square
– Address: 2/F House of Fraser, 318 Oxford Street, London W1C 1HF, UK
– Phone: +44 08456 210 210
– Opening hours: Monday to Saturday 09:30 – 21:00; Sunday 11:00 – 18:30
Daily rates

 4. Best Exchange (operated by Currency Exchange Corporation)
– Providing currency exchange and money transfer services since 1999
– This is just 2 minutes away from Hanover Square
– Address: G/F House of Hanover, 13-14 Hanover St, Mayfair, London W1S 1YH, UK
– Phone: +44 20 7355 3800
– Opening hours: Mon to Fri 10:00 – 18:00; Sat 10:00 – 16:00; Sun & PH 12:00 – 18:00
Daily rates

 5. Foreign Payments Ltd
– Offers currency exchange and money transfer services
– Accepts traveler’s cheques
– It is just a short walk from Bond Street station
– Located at 34 S Molton St, Mayfair, London W1K 5RG, UK
– Phone: +44 20 7495 6646
– Opening hours: Monday to Friday 09:00 – 19:30

How to get there
– By subway: Nearest subway stations are Oxford Circus and Bond Street
– By bus: Nearest bus stops are Oxford Circus Station John Lewis (Stop OF), Bond Street (Stop BW), and Great Titchfield Street Oxford Circus Station (Stop OP)

4. Money Changers in Bayswater

Money Changers in Bayswater Image credit: Eurochange

Those have a hotel room in Bayswater can easily buy Pounds at money changers on Queensway street, a main street with bustling activity in the area.

There is currency exchange service from both international chains and individual money changers for you to choose from. Most of them are open daily until late evening. There is even one, called Chequepoint, offering service 24/7.

You might fall in love with the convenience and international energy packed in the streets of this cosmopolitan district of London.

Best rates for
– RUB
– SAR
– TRY
– ZAR
– EGP
– AUD
– BRL
– CHF

Recommended money changers
1. International Currency Exchange (ICE)

– Providing foreign exchange and money transfer services for more than 40 years
– Over 30 currencies available
– This is located across Bayswater Station
– Address: 56 Queensway, London W2 3RY, UK
– Phone: +44 20 7243 0509
– Opening hours: Daily 08:00 – 22:00

2. Eurochange
– Providing currency exchange and remittance services for more than 40 years
– Accepts traveler’s cheques
– It is right across Kensington Gardens, outside Queensway Station.
– Address: 126 Bayswater Rd, London W2 4RH, UK
– Phone: +44 20 7792 4052
– Opening hours: Daily 08:00 – 21:00
Daily rates

3. Chequepoint
– Providing currency exchange and money transfer services for more than 35 years
– Accepts traveler’s cheques
– This is right at the corner across Kensington Gardens and Queensway Station.
– Address: 2 Queensway, London W2 3RX, UK
– Phone: +44 20 7221 2716
– Open 24 hours daily
Daily rates

4. Altaif Foreign Exchange
– Provides currency exchange and money transfer services
– This is just a short walk from Queensway Station
– Address: 9A Queensway, London W2 4QJ, UK
– Phone: +44 20 7243 0702
– Opening hours: Monday to Saturday 09:00 – 20:00
Daily rates

5. Money Wise
– It is a souvenir shop that also offers currency exchange service
– Located beside Chequepoint across Queensway Station
– Address: 6 Queensway, Bayswater, London W2 3RX, UK
– Phone: +44 20 7221 1585
– Opening hours: Daily 08:00 – 22:00

How to get there
– By subway: Nearest subway stations are Queensway and Bayswater
– By bus: Nearest bus stops are Queensway (Stop ABC) and Bayswater (Stop P)

5. Money Changers near Cannon Street & London Bridge

Money Changers near Cannon Street & London Bridge Image credit: ACE-FX

Cannon Street is located in the heart of the City of London. It stretches parallel to the River Thames, from St. Paul’s Cathedral to the Monument Station. At its eastern end, the street meets King William Street that leads to the iconic London Bridge.

To stock your Pounds while being in the area, walk to the intersection of Cannon Street and King William Street. If you are on the south side of London Bridge, go to ACE-FX, a long-time favorite money changer of the tourist crowd.

Best rates for
– EUR
– USD
– JPY
– AUD
– CAD
– CHF
– CNY
– KRW

Recommended money changers
1. ACE-FX

– This famed money changer is located near the south side of London Bridge
– Address: London Bridge House, 5 London Bridge Walk, London SE1 2SX, UK
– Phone: +44 20 7357 7373
– Opening hours: Monday to Friday 07:45- 18:30
Daily rates

2. Thomas Exchange Global – Cannon Street Branch
– Thomas Exchange Global is a famous forex chain in London, known for offering favorable rates and trustworthy service
– Buys and sells American Express traveler’s cheques in USD, CAD, AUD, and EUR
– Over 120 foreign currencies available
– This is just a short walk from Cannon Street Railway Station and Monument subway station
– Address: 131-133 Cannon St, London EC4N 5AX, UK
– Phone: +44 20 3475 4070
– Opening hours: Monday to Friday 08:00 – 18:45
Daily rates

3. 1 Currency
– Offers currency exchange and money transfer services
– It is right across St. Paul’s Cathedral
– Address: City of London Information Centre, St. Paul’s Churchyard, London EC4M 8BX, UK
– Phone: +44 20 7651 0005
– Opening hours: Monday to Saturday 09:30 – 17:30; Sunday 10:00 – 16:00
Daily rates

4. BFC Exchange
– Providing currency exchange and money transfer services since 2003
– It is just a minute walk from Monument Station
– Address: 69 King William St, London EC4N 7HR, UK
– Phone: +44 20 7220 7813
– Opening hours: Monday to Friday 09:30 – 18:00
Daily rates

5. Cornhill FX
– Providing foreign exchange and money transfer services for more than 5 years
– The change office is across Cannon Street Railway Station.
– Address: 4F, 18 Saint Swithin’s Lane, London EC4N 8AD, UK
– Phone: +44 20 7710 9610
– Opening hours: Monday to Friday 08:00 – 17:30

How to get there
– By subway: Nearest subway stations are Cannon Street and Monument
– By bus: Nearest bus stops are Cannon Street (Stop MB) and St Paul’s Churchyard (Stop SH)