Currency exchange for expats & new arrivals

Whether you need travel money before you fly, want to convert a lump sum on arrival, or are looking for the best rate on ongoing sterling purchases, find vetted currency exchange providers here — reviewed for people moving to or living in the UK.

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Vetted providers

Currency exchange providers for expats & new arrivals

Every provider below has been reviewed by our editorial team before listing.

4 providers listed

Multi-Currency · FCA Regulated
Wise

Wise converts and transfers money at the mid-market exchange rate — the same rate you see on Google — with low, transparent fees. Hold balances in 40+ currencies, convert between them instantly, and send money internationally for a fraction of what banks charge. One of the most trusted options for expats managing finances across borders.

Mid-Market Rate 40+ Currencies FCA Regulated Instant Conversion
Visit Wise
Travel Money · High Street
Post Office Travel Money

One of the UK's most widely used travel money services, available in branches nationwide and online. Order foreign currency for home delivery or click and collect — with competitive rates on over 70 currencies and no fees on online orders.

70+ Currencies Click & Collect Home Delivery No Online Fees
Visit Post Office
Multi-Currency · High Street
HSBC

HSBC's Global Money account allows customers to hold, exchange and send money in multiple currencies — including GBP, USD and EUR — at competitive rates directly from the app. A practical option for new arrivals who already bank with HSBC and need to convert funds on arrival.

Global Money Account Multi-Currency In-App Exchange Existing Customers
Visit HSBC
Multi-Currency · Digital
Monzo

Monzo uses the Mastercard exchange rate — one of the most competitive available — with no foreign transaction fees on standard accounts. An excellent option for new arrivals spending in multiple currencies during the transition period before fully converting to sterling.

Mastercard Rate No Foreign Fees Fee-Free Abroad Instant Notifications
Visit Monzo

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Getting the best exchange rate when moving to the UK

Currency exchange is one of the most overlooked costs of relocating — yet for someone moving a significant sum of money, the difference between a bank rate and a specialist rate can amount to hundreds or even thousands of pounds. Understanding how the UK currency market works helps new arrivals make better decisions from day one.

The weakest rates are typically found at airports and hotel bureaux de change, which charge a significant spread above the mid-market rate. High street banks are more competitive but still add a margin — usually 2–4% above the interbank rate. Specialist services such as Wise use the mid-market rate itself with a small transparent fee, making them consistently among the best options for converting larger sums or managing balances in multiple currencies.

For travel money — physical foreign currency to use before or during travel — the Post Office is consistently competitive on rates and is available both online (with home delivery or click and collect) and in branches nationwide. Ordering online in advance rather than buying at the bureau on the day typically gives a better rate.

For larger one-off conversions — such as converting savings from your home country into sterling on arrival — the difference between a bank rate and a specialist FX service can be substantial. At £50,000 a 1.5% difference in rate means £750 in your pocket. Wise and similar providers typically offer rates significantly closer to the interbank rate than any high street bank.

CategoryFinance
Sub-categoryCurrency Exchange
Regulated byFCA
Directory statusAccepting applications
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Common questions

Currency Exchange — FAQs

For travel money, ordering online via the Post Office or a specialist FX provider in advance of travel typically gives the best rates — significantly better than buying at an airport bureau on the day. For everyday spending abroad, digital banks such as Monzo use the Mastercard exchange rate with no foreign transaction fees. For larger conversions, Wise uses the mid-market rate with a small transparent fee, making it one of the most cost-effective options available.
For small amounts of spending money, converting before you travel is usually fine. For larger sums — such as moving savings to fund a deposit or first months of rent — it is generally better to convert after arriving, using a specialist FX service like Wise or your UK bank, rather than at an airport or using your overseas bank's international transfer rate. Watch the exchange rate in the weeks before your move and consider converting in tranches rather than all at once if timing is uncertain.
The mid-market rate — also called the interbank rate — is the midpoint between the buy and sell prices for a currency pair on global markets. It is the rate you see quoted on Google or XE.com. No consumer provider offers exactly this rate — they all add a margin or fee — but Wise and similar specialist services come closest. High street banks and airport bureaux apply the largest margins.
Standard UK current accounts hold only sterling. However, HSBC's Global Money account and Wise allow you to hold balances in multiple currencies simultaneously, converting between them at competitive rates. This is particularly useful for US expats who need to maintain dollar balances for tax reasons, or for anyone receiving income in a foreign currency.
It depends on your bank. Traditional high street banks typically charge a foreign transaction fee of 1–3% on each purchase made in a foreign currency, plus a cash withdrawal fee. Digital banks such as Monzo and Starling charge no foreign transaction fees on standard accounts, making them far more cost-effective for spending abroad or in foreign currencies during the move to the UK.
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