Upvote:0
I use cash for small purchases and credit card for large payments. Check your credit card transaction fees and whether you need to declare you'll be out of the country. Some credit card apps allow you to schedule trips. MasterCard claims that I don't need to but I ran into issues when I went to Paris. Check to see if your bank has a connection with UK banks for cheap or no fee ATM transactions. For me, it was Barclays.
Upvote:0
You should note that the UK’s smallest denomination bank note is £5. I prefer to use card when visiting if only to avoid coins especially for smaller purchases. My bank charges a fixed percentage for foreign transactions so it might be different if a fixed amount per transaction is charged. .
Upvote:1
You should investigate the Australian market looking for cards which are intended for travelers. There are some marketed to UK residents which have no foreign currency charge and reasonable exchange rate conversions when used outside UK.
Upvote:2
You really need to look at the terms on your card. The advantage of getting cash is that you can spread a fixed per-transaction fee across a bunch of purchases. The downside is that card issuers often charge extra for cash withdrawls. If you have a fairly ordinary card then your best bet is probablly to use cash for small transactions.
If you are going to use London public transport for more than a day or so and you don't have a travel card with no per-transaction fees then you probablly want to get an oyster card. Contactless travel on london public transport is billled on a daily basis, so fees can quickly build up on foreign cards.
Upvote:4
For the last 15 years of travel, I have largely relied getting cash from ATMs, and using credit cards for things like hotel bills and car rentals.
In the UK, some smaller places might not accept cards, but in most cases cards or cash are acceptable. Amex/Diners cards have much lower acceptance than Visa/Mastercard.
It is an unwelcome fact that wherever/however you spend your money abroad, you will have to pay a fee along the way. Do your research on what fees apply and in what cases, but here is what I have found in general: