What is the local currency?
The Royal Mint websiteDespite the UK being part of the EU, the British currency is not Euro but a pound sterling abbreviated as GBP (Great British Pound); the sign ‘£ ‘ always comes before the amount (£200, £1.50). All British bank notes bear the Queen’s portrait on one side and a prominent figure in the British history on the other side of the note. 1 pound is divided into 100 pence (£1 = 100p)
For more security information and features regarding the new fiver visit thenewfiver.co.uk
Old paper £5 notes are no longer accepted by shops and are no longer legal
(since 5 May 2017)
Why replace paper with polymer?
Polymer is a thin flexible plastic which means notes made of this material will:
last up to 2.5 times longer
withhold bending and scrounging in pockets much better than paper
be harder to fake
When to expect new TEN and TWENTY POUND NOTES:
NEW TEN POUND NOTE should be introduced in summer 2017 and feature JANE AUSTEN
NEW TWENTY POUND NOTE should be introduced by 2020 and feature JMW TURNER
NEW £1 coin was issued in March 2017 and has been in circulation alongside the existing £1 coin. Both coins are valid although beware that most slot/vending machines do not accept the new coin.
WHERE are coins made
Coins for United Kingdom are made and distributed by The Royal Mint, which also issues official medal and is the world’s leading export mint. The Royal Mint is a government owned company with over 1000 years of experience, situated in South Wales, producing up to 90 million coins a week. Visit The Royal Mint website if you’d like to order special, collectible, anniversary coins or medals. The Roya Mint Museum is open to public.
HOW 2 talk MONEY
(Courtesy: engVids via YouTube)
1 penny (1p)
2 pence (2p)
5 pence (5p)
10 pence (10p)
20 pence 20p
50 pence 50p
1 pound (£1)
2 pounds (£2)
Penny is a singular of pence.
Pence is always written as ‘p’ and comes after the amount (10p) it is pronounce as “pee” 10p = “ten pee”
5 pound note (£5)
10 pound note (£10)
20 pound note (£20)
50 pound note (£50)
HOW TO ‘TALK MONEY’ LIKE A LONDONER
1 pound = “a quid” you can say “2 quid, 5 quid, 20 quid”
5 pound note = “fiver” (Can you lend me a fiver?)
10 pound note = “tenner” (It’s not worth more than a tenner)
£1000 = “a grand” or you can say “two grand, three grand”
BASIC ACCOUNT You will get a bank card to use in a cash machine to withdraw money or check your balance You can receive money directly into your account You can make payments from your account You can set up direct debit and standing orders You can make payments in shops (only with the bank Read More
WHAT DOES IT MEAN ATM – Automated Teller Machine also referred to as ‘hole in the wall’ or cash machine – ATM allows you to check your account or to take money out. Some ATMs offer additional services such as printing a mini statement, buying a phone credit, changing your PIN number etc. Some Read More