| What is the local currency? |
| Pounds Sterling |
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| What denominations does it come in? |
Notes: £5, £10, £20, £50, £100
Coins (pounds): £1, £2
Coins (pence): 1, 2, 5, 10, 20, 50 |
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| What is the best way to exchange currency? |
| It is recommended you exchange currency with banks or a Bureau de Change. |
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| What are commonly-used forms of payment for everyday purchases (such as groceries)? |
| Cash, Switch/Debit card (electronic/ATM), credit cards and checks. |
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| Will I be able to use my credit card around town? If not, list when I’ll need cash. |
| Most stores accept credit cards, however some fast food and smaller retail outlets may not. It is best to carry cash when visiting smaller outlets. |
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| By what method are bills (such as rent and utilities) paid? |
| Internet back transfer, direct debit or checks are the most popular forms of payment. Cash can be paid at local offices. |
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| What are the requirements for opening a bank account? At what stage of the settling-in process should I open it? |
You may open a bank account prior to arrival if you are on an expatriate assignment. Proof of residency at an overseas address will be required, along with a certified copy of your passport and a letter from your employer.
If you are not on an expatriate assignment, it is recommended that you open a bank account as soon as possible on arrival in the UK. You will need identification such as your passport, a utility bill and a letter from your employer. |
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| Will foreign residents be able to find banking services in their native languages? |
| There are some foreign banks throughout Manchester, however they are not widely available. It is suggested you check with your bank prior to relocating to ensure they have a local branch. |
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| Are there any restrictions on services for those who are new to your country? |
| No. |
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| What are typical banking hours? |
| Monday to Friday, 9:30am – 5:00pm. In addition, some branches will also open for a few hours on a Saturday morning. |
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| Are automatic teller machines (ATMs) available around the clock? |
| Yes. |
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| Is there any other money information that might help me? |
| The UK has not yet adopted the European Single Currency (the Euro). There is a great deal of speculation and debate as to whether or when the UK will replace the pound with the Euro. |
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| Useful Links |
Currency converters
www.moneycorp.com
Abbey
www.abbey.co.uk
Barclays Bank
www.barclays.co.uk
Citibank
www.citibank.co.uk
HSBC
www.hsbc.co.uk
Lloyds TSB
www.lloydstsb.co.uk
Natwest Bank
www.natwest.co.uk
Royal Bank of Scotland
www.rbs.co.uk |