Currency in Edinburgh
What is the local currency?
What denominations does it come in?
Notes: £5, £10, £20, £50 and £100
Coins (pounds): £1 and £2
Coins (pence): 1, 2, 5, 10, 20 and 50
What is the best way to exchange currency?
It is recommended you exchange currency with banks, Moneycorp, certain supermarkets or a Bureau de Change.
What are commonly-used forms of payment for everyday purchases (such as groceries)?
Cash, Switch/Debit card (electronic/ATM), credit cards, cheques.
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.
By what method are bills (such as rent and utilities) paid?
Internet back transfer, direct debit or cheques are the most popular forms of payment. Cash can be paid at local offices.
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.
Will foreign residents be able to find banking services in their native languages?
Banking services in foreign languages are not widely available in Edinburgh.
Are there any restrictions on services for those who are new to Edinburgh?
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.
Are automatic teller machines (ATMs) available around the clock?
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, however there are no declared plans to do so in the foreseeable future.
Crown Relocations has made every effort to present accurate information. However, regulations, rates and other variables are subject to change and Crown Relocations cannot accept responsibility for the errors that might result. Should you have any questions or need additional information, please contact your local Crown representative.