London Travel Money Guide: Best Payment Options in 2026
London is expensive — fees make it worse. Here is how to pay in the UK capital without losing money to ATM charges, conversion fees, or bad exchange rates.
International visitors using the wrong payment methods pay a 3–8% premium on every transaction via bad exchange rates and foreign transaction fees. London is also fully contactless — cash is rarely needed and sometimes not accepted at all.
Contactless and Mobile Payments in London
- London is the most contactless city in Europe — 90%+ of transactions contactless
- TfL (Tube, bus, Overground): contactless card or phone, charged at daily cap
- Restaurants, pubs, shops: contactless everywhere, Apple/Google Pay universally accepted
- Markets (Borough, Portobello): increasingly contactless but carry some cash
- Tipping: 10–15% on card is now standard — most terminals prompt for tip
Best Cards for London
- Revolut: mid-market rate, free ATM within monthly limit, contactless works on TfL
- Wise card: same rate as Revolut, slightly different fee structure
- Steyble crypto card: pay in GBP from your crypto balance, up to 3% cashback
- US visitors: Chase Sapphire Reserve or Schwab debit for no FX fees
Currency Exchange in London
If you need GBP cash, the best rates in London are at Post Office locations and M&S Money. Avoid Travelex at Heathrow — rates are 8–12% worse than mid-market. For any amount over £500, ordering online for collection at Post Office gives rates 2–3% better than any walk-in exchange.