What is England's currency and how to bring money into the country?

England is one of the most popular destinations for exchange students and Brazilian travelers. The birthplace of the English language offers a perfect combination of historic tradition, renowned language schools, and vibrant cultural life. Whether for a language course or a high school program, understanding the local currency and how to manage your finances is critical to a smooth stay. In this comprehensive guide, we explain everything about the British pound and the best strategies for getting your money to the UK.

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What is England's currency?

England's official currency is the Pound Sterling, which is used throughout the United Kingdom, including England, Scotland, Wales, and Northern Ireland. Internationally known by the ISO code GBP (Great British Pound), its symbol is £.

The British pound carries over 1,200 years of history and is one of the oldest currencies still in circulation in the world. Considered a strong currency, it plays an important role in the global financial system, being the fourth most traded currency in the international exchange market, after the American dollar, the euro and the Japanese yen.

For those planning a Learn a Language Abroad program in England, it is essential to understand that the high value of the pound against the real causes the cost of living to be significantly higher compared to Brazil, especially in large centers such as London, Manchester and Edinburgh.

Pound coins in circulation

British coins have different values, sizes and designs, each with specific characteristics that facilitate their identification:

• 1 penny (1p): Value of £0.01, bronze color
• 2 pence (2p): Value of £0.02, bronze color, greater than the 1p coin
• 5 pence (5p): Value of £0.05, silver color, small and light
• 10 pence (10p): Value of £0.10, silver color, greater than that of 5p
• 20 pence (20p): Value of £0.20, silver color, heptagonal shape
• 50 pence (50p): Value of £0.50, silver color, larger heptagonal shape
• £1: Value of £1.00, bimetallic (gold center with silver edge)
• £2: Value of £2.00, bimetallic (silver center with gold border)

Exchange students should note that British coins often feature the profile of the reigning monarch on one side. With the recent succession to the throne, you will find both coins bearing the effigy of Queen Elizabeth II and King Charles III in circulation.

Pound banknotes in circulation

British banknotes are colored and made of polymer (plastic material), which makes them more durable and difficult to counterfeit. The notes currently in circulation are:

• £5: Turquoise-blue color, features the image of Winston Churchill
• £10: Brownish-orange color, shows writer Jane Austen
• £20: Purple color, shows the painter J.M.W. Turner
• £50: Color red, portrays the scientist Alan Turing

An important curiosity for exchange students: Scotland and Northern Ireland issue their own versions of British pound notes, which are legally accepted throughout the United Kingdom, but can cause confusion in establishments less used to tourists. If possible, try to use banknotes issued by the Bank of England during your stay.

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Does commerce in England accept the euro and dollar?

Despite its geographical proximity to eurozone countries and the popularity of the American dollar, England Not officially accepted none of these currencies in regular commerce. The British pound is the only legal tender in the country.

In extremely touristic areas such as London's West End, Bond Street or Covent Garden, some establishments may, exceptionally, accept euros or dollars, but with unfavorable exchange rates. This practice is not common and should not be considered a viable option.

For students participating in programs such as High School — High School Abroad with Be Easy, which may include destinations in the United Kingdom, it is essential to have access to British pounds or payment methods that work locally without excessive fees.

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How to get money to England?

For exchange students planning to spend weeks or months in England, the strategy for carrying and managing money must be carefully planned. Here are the main options:

1. Cash

Carrying a moderate amount of British pounds in cash is recommended for the first few days of your arrival. This allows:

• Pay for transportation from the airport to your accommodation
• Buy immediate essentials (power, cell phone chip)
• Have an emergency reserve for situations where cards are not accepted

Advantages:

• Immediate availability upon arrival
• It does not depend on the operation of electronic systems
• Useful for small businesses and street markets

Disadvantages:

• Risk of loss or theft
• Less favorable exchange rates when converting reais to pounds in Brazil
• Limit of R$10,000 (or equivalent) for transportation without declaration
• Difficulty receiving additional resources if necessary

Safety tip: Distribute the money in different luggage compartments and never keep the entire amount in one place. Consider a belt or bag with hidden compartments for added protection.

2. International credit card

Credit cards are widely accepted in England, from large stores to small establishments. Most places accept Visa and Mastercard, while American Express and Discover have more limited acceptance.

Advantages:

• Widely accepted in commercial establishments
• Offers protection against fraud
• Allows online purchases and reservations
• It may include travel insurance and assistance
• Accumulation of points/miles

Disadvantages:

• High IOF rates (5.38% for international purchases)
• Currency conversion rates are not always favorable
• Indebtedness risk
• Some places may charge additional fees for credit card payments

Recommendation for exchange students: Have at least one international credit card as a backup, preferably with an adequate limit for emergencies. Check to see if your bank offers annuity-free cards for students in exchange programs.

3. International debit card

Increasingly popular among exchange students, the international debit card allows you to access funds directly from a bank account, whether Brazilian or international.

Advantages:

• Lower IOF rate than on the credit card (1.1% for purchases)
• Wide acceptance for purchases at stores
• Possibility of withdrawals at cash machines (ATMs)
• More efficient expense control (only spend what you have)
• Remote charging option for family members

Disadvantages:

• Fees for ATM withdrawals
• Dependence on the availability of funds in the account
• Some flags may have lower acceptance

Tip for exchanging: For program participants Learning a Language Abroad, an international debit card may be your main financial tool while staying in the United Kingdom.

4. Multicurrency prepaid cards

Multi-currency prepaid cards are an excellent option for exchange students, allowing them to carry British pounds and other currencies with exchange rates that are generally more favorable than those offered by traditional banks.

Advantages:

• Possibility to charge the card when the exchange rate is favorable
• Security (not linked to your main bank account)
• More efficient expense control
• Many allow online recharging from Brazil
• Some offer multi-currency accounts (useful for those planning to travel around Europe)

Disadvantages:

• Maintenance fees on some cards
• There may be charges for loading
• Some establishments do not accept prepaid cards

Recommended option: Evaluate the various prepaid cards available on the market, considering fees, benefits, and ease of recharging remotely, especially important for medium-term programs.

5. International transfers with Wise

For exchange students in programs of a few weeks or months, Wise (formerly TransferWise) stands out as one of the best options to receive money regularly from Brazil.

Why Wise is recommended by Be Easy:

• Transparent fees and significantly lower than traditional banks
• Exchange rates close to commercial exchange (savings of up to 6% compared to banks)
• Fast transfers (usually between 1-3 business days)
• Intuitive platform with easy to use app
• Possibility to obtain a multi-currency debit card linked to your Wise account
• Support in Portuguese

How it works:

1. Your parents or guardians send reais from the Brazilian bank account to Wise
2. Wise converts the amount to British pounds with a favorable exchange rate
3. You receive the amount directly to your Wise account in pounds
4. Use the Wise card for payments or withdrawals at ATMs in England

Practical tip: Wise also offers the option of holding balances in multiple currencies simultaneously, which is ideal for exchange students planning to travel around Europe during their time in England.

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How much money to bring to England?

The cost of living in England varies significantly depending on the city. London is considerably more expensive than cities like Manchester, Birmingham, or Newcastle. For students in exchange programs, consider the following average monthly expenses:

Basic monthly expenses for students (estimate):

London:

• Accommodation: £600-1,200 (shared rooms/student residences)
• Food: £200-300
• Transportation: £100-160 (with student card)
• Leisure and entertainment: £150-300
• Books and materials: £50-100
• Phone/Internet: £20-40
• Approximate total: £1,120-2,100 monthly

Other cities (Manchester, Birmingham, etc.):

• Accommodation: £400-800
• Food: £180-250
• Shipping: £60-100
• Leisure and entertainment: £100-200
• Books and materials: £50-100
• Phone/Internet: £20-40
• Approximate total: £810-1,490 monthly

Additional values to consider:

• Health insurance (if not included in the visa)
• Travel within and to nearby countries
• Clothing suitable for the British climate
• Extracurricular events and activities

Tip for students: Take advantage of student discounts! The ISIC (International Student Identity Card) card offers discounts on transportation, commercial establishments, tourist attractions and cultural events.

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Economic tips for exchange students in England

Make the most of your financial resources during your exchange with these strategies:

Food:

• Cook at home whenever possible
• Take advantage of the “meal deal” from supermarkets (Tesco, Sainsbury's, Boots) that offer snack+drink+dessert for prices between £3-£5
• Buy at local markets, often cheaper for fruits and vegetables
• Use apps like Too Good To Go to buy excess food at reduced prices

Transportation:

• Get the Oyster card or use contactless payment in London
• Students can request a 30% discount on the Railcard for train travel
• Explore cities on foot or by bike (many cities have accessible sharing systems)
• Book train tickets in advance for better fares

Leisure:

• National museums are free
• Take advantage of free events at language schools
• Consider the National Trust pass to visit historic properties
• Look for student discounts at movie theaters, and attractions

Financial Services:

• Use Wise to receive transfers from Brazil at reduced rates
• Avoid withdrawals at cash machines that charge fees
• Keep track of exchange rates and transfer money at favorable times

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Do your exchange in England with Be Easy

A Be Easy Exchange offers several programs for those who wish to study in England, with a special focus on language and high school courses. Contact Be Easy today and discover how our programs in England can transform your life, opening doors to a future filled with international opportunities!

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