Travel insurance for students
Students have a unique opportunity to stretch their horizons, immerse in diverse cultures, and forge lifelong connections. It can even be done on a student budget – and it’s so worth it.
Between the historic landmarks and sprawling scenery, it’s no wonder Australians love to travel to the United Kingdom. However, to get the most out of your international journey, you’ll want to have your travel money sorted.
With this in mind, ordering foreign cash or purchasing a prepaid travel money card might be a good idea. How do you do that? In this simple guide, we highlight how to buy British pound sterling (GBP) before getting stuck into your enjoying your time away in the UK.
What currency is used in the UK?
The United Kingdom’s currency is the pound sterling, which uses the currency code GBP and the currency symbol £. The pound traces its origins back over a thousand years to around 775 AD, earning its place as the world’s oldest currency still in use.
Where can you buy the British pound (GBP)?
As the fourth-most traded currency in the world, you can purchase British pounds ahead of your trip from bank branches, currency exchange businesses and online services like Australia Post. But with fees and exchange rates changing depending on your choice, factoring these costs into your travel budget is a wise move.
How to buy British pounds in Australia
Known as one of the world’s most popular currencies, you shouldn’t have a problem finding places to buy British pounds in Australia, but the process for getting foreign cash depends on the provider. These are the basic steps you’ll need to take to purchase GBP:
- Have a valid photo ID, such as a driver’s license or a passport
- Fund your purchase with cash, a debit card or a credit card
- Specify the amount you need in British pounds and review how much it costs in Australian dollars (AUD)
- Pay for the GBP in Australian dollars and receive your money
How to buy GBP online
Arranging British pounds before you head to the UK is easy with Australia Post. Complete these steps and get the ideal amount of GBP for your overseas adventure.
- Review our exchange rates, place your order online and choose a participating Post Office to collect your cash.
- After you’ve placed an order, make payment via BPAY, Pay ID or credit card within 24 hours.
- We'll confirm when your cash is ready. You'll have a week to collect it from your chosen Post Office. Remember to bring your receipt and photo ID.
Where can I exchange AUD for GBP?
Finding a convenient place to exchange AUD for GBP shouldn’t be an issue in most parts of Australia. For instance, ordering travel money is possible at bank branches, foreign exchange businesses and online services. Conveniently, you can also head to one of our 3,200+ participating Post Offices to get British pounds ahead of your trip.
Why choose a travel money card instead of cash?
Taking cash with you on a trip to the UK is wise, especially if you plan on travelling in cabs or buying souvenirs at one of the country’s many charming markets. However, a prepaid travel money card can help streamline your journey with these benefits:
Peace of mind: Prepaid travel cards use money separate from your everyday bank accounts, limiting your the risk if your cards go missing or are stolen. Similarly, physical cards can include security features, unlike cash, such as protection against unauthorised transactions.
Clear budgets: Preloading a travel money card before you head to the UK means you know exactly how much money is in your budget. If you’re worried about splurging too much on your adventure, this approach can help you stay on top of your spending.
Locked-in exchange rates: You’ll be subject to fluctuating costs if you withdraw foreign cash multiple times. Instead, prepaid travel money cards lock in the exchange rate when you first purchase, meaning you can access a beneficial rate for your journey.
Trackable spending: Cash is time-tested, but prepaid travel money cards come with modern technology, like online services and apps that track your purchase history. Naturally, this makes keeping on top of your budget easier.
What is the cheapest way to buy British pounds in Australia?
Taking the time to find the best foreign exchange rate for British pounds is smart if you want to maximise the value of your AUD. However, as the different services available for exchanging money offer varying rates and fees, knowing your options helps avoid needless costs.
Of course, the options available will depend on your local area. However, you can often expect to find the best exchange rates and fees using online services. Review the latest exchange rates and purchase your travel money with our convenient currency converter.
When is the best time to buy GBP in Australian dollars?
Exchange rates constantly change, so there’s no consistently ideal time to buy British pounds with Australian dollars. Yet that doesn’t mean you can’t look out for a beneficial moment where the conversion rate between GBP and AUD is favourable.
If your trip isn’t for some time, pay attention to the exchange rate and lock in with a prepaid travel money card before you depart on your adventure.
Money tips for your UK trip
Before you head off on your UK adventure, consider the following money tips to help you have the best time while minimising costs.
Book early: While the UK isn’t the cheapest destination for Australians, securing better rates for flights, accommodation and activities is possible if you book early. Booking train tickets in advance can significantly cut travel costs, especially for longer journeys. Railcards are also a savvy option for securing discounts on train fares if travelling extensively within the UK.
Tipping is appreciated: If a restaurant doesn’t add a service charge, tipping around 10% is appreciated in restaurants. However, you’re generally not expected to tip in other places like restaurants, bars, cafes and hotels.
Explore free activities: Many of the most exciting activities in places like London are free to visit. Popular destinations like the British Museum and the Victoria and Albert (V&A) museums won’t cost a penny to explore. offer free entry.
Dine and shop like a local: Explore local markets or smaller towns for more budget-friendly dining and shopping options. For instance, Cornwall’s farmers’ markets offer fresh local produce and can be much cheaper than dining out in tourist-heavy areas.
Buy British pounds at Australia Post for your next adventure
Exchanging AUD for British pounds is made easy with Australia Post by ordering foreign cash online or in-store at a participating Post Office.
FAQs - Buying British pounds
Although there might be a chance to buy GBP at a low price in the United Kingdom, the exchange services in your local area at home will dictate whether you can find a better deal. You might also prefer to purchase GBP in Australia, so you have emergency cash on arrival.
Some people like to buy GBP before departing to the UK because it means they’ll have access to money on arrival. Plus, it could mean exchanging money at a favourable rate. Just know that a prepaid travel money card makes it easy to top up funds when you’re on the move in the United Kingdom.
Bank branches, foreign exchange businesses, and online services are just some of the ways in which you can purchase GBP in Australia. Each option has its pros and cons, so consider the fees and exchange rates before making your purchase.
It’s usually wise to avoid exchanging funds just before your departure date. Since foreign cash can take 24 hours or several days, you don’t want to leave the country before your cash is ready for pickup. With a prepaid travel money card, it often takes one business day or less to load with foreign currency.
Ready for your trip to the UK?
Get your travel money sorted with foreign cash in hand thanks to Australia Post. Order online and pick up in-store for secure and convenient currency, with competitive exchange rates on popular currencies.
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