Compare Exchange Rates to Buy British Pounds (GBP)
Because every company has different rates to buy British pounds (GBP) with Australian dollars, finding the best deal can be a minefield. We bring together all your options, highlight the fees and rates per money exchange, and show you the best possible deals.
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Where to buy pound sterling?
You can buy British pounds (GBP) from almost every place in Australia that offers currency exchange. It is a very popular currency to exchange from Australian dollars. Places you can make cash transactions and buy British pounds include online, in-store at money exchangers, banks, Australia Post and the airport.
To find out exactly where you can buy pound sterling, you can use our handy city and suburb guides, just click on the links below:
What is the cheapest way to buy pounds in Australia?
The cheapest way to buy British pounds (GBP) in Australia is online.
To be sure of the cheapest way to buy British pounds, check our online currency converter calculator.
Most online money exchangers, like S Money, do not charge a transaction fee and their exchange rates are the same as the cash rate you see on Google.
The most expensive place to buy GBP is at the airport, because they know you have no other options until you get to the United Kingdom. They charge a commission fee and give very poor foreign exchange rates. For an exchange of $1,000 Australian dollars, you can lose up to $100 at the airport.
What currency is used in the UK?
Pounds is the currency used in the UK and is represented by the symbol £.
Pounds: £5, £10, £20, £50 and £100
Pence: 1p, 2p, 5p, 10, 20p, 50p, £1 and £2
Similar to the Australian Dollar, the UK pound is divided into 100 to make their coins. All British currency features an image of the Queen's head on one side. Interestingly GBP is accepted in Scotland, Wales and Northern Ireland but they also have their own legal tender.
Should I buy pounds now?
The pound to aud exchange rate average is close to 1.70, over the past 10 years. The high was 2.20 in mid of 2015 and the low was 1.44 in early 2013. Currently the rate is 1.81, so £100 will buy you $181 at the best exchange rate.
The aud to pound exchange rate average is close to 0.55, over the past 10 years. The high was 0.69 in early 2013 and the low was 0.45 in mid 2015. Currently the rate is 0.55, so A$100 will buy you about £55 at the best exchange rate.
To keep track of the GBP to AUD or AUD to GBP exchange rate, use our rate tracker to help you buy pounds at the rate you set.
How to buy British pound in Australia?
Buying pounds in Australia is relatively easy.
- Take your valid photo id (driver’s license or passport) with you.
- Bring your preferred payment method. Most places accept cash, debit card and credit card to pay for your pounds.
- Ask for the pounds amount and the money exchanger will let you know how much Australian dollars you need to pay.
- Make your payment in Aussie dollars and receive your pounds.
How much is $100 worth in UK pounds
Historically the Australian dollar is worth about 0.55 UK pounds, therefore AU$100 will buy you £55.
In some years the exchange rate has been as low as 0.45 UK pounds and it makes buying GBP and spending in the UK relatively more expensive for an Australian. In other years the exchange rate has been as high as 0.69 UK pounds, which means it's cheaper for Australians to buy GBP.
Major banks tend to predict the AUD to GBP exchange rate and present reasons why the GBP changes against the Aussie exchange rate.
How do I get the best exchange rate at a money exchanger?
Often people need to buy pounds in the United Kingdom, so knowing how to get a good rate is handy.
- Step 1: Find a location that has 3 currency exchange services in a small area. This is easy in places like London, Manchester, Birmingham, Liverpool, Brighton and Oxford.
- Step 2: Visit each one and ask how many GBP you will receive for $500 (Australian dollars). This way you have their service fee or commission fees included as well as their exchange rate for AUD to GBP.
- Step 3: Visit the currency exchange service that offered the second best amount of GBP and tell them the offer you received from the best place. Ask them if they can give you a better rate.
This should take about 40 minutes. Most stores will accept cash, money card, debit card and credit card. To save time and increase your spending money buy your GBP online before you travel.
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Our most frequently asked questions
Why should I choose The Currency Shop?
Many people are not aware of the true cost of transferring money. But it is pretty standard to lose up to 8% of your money each time you transfer money internationally, depending on your method. We think this is far too much. That’s why we help you find the best way to transfer your money and avoid those costly hidden fees and charges. And it works. On average, we save our customers $4,000 each year.
How does it work?
It’s pretty simple. Whether you need travel money or would like to transfer money overseas we just need a little info to point you in the right direction. First, you tell us what you are looking for then we compare hundreds of providers to find the best deal for your current situation. We’ll highlight all the available options and recommend the best one for you. You can then decide which option you prefer, and click through to their site to secure the deal.
Is it safe?
Yes. The Currency Shop holds an Australian Financial Services Licence (462269) and is a member of the Financial Ombudsman Service. We closely vet our providers and only partner with the largest, safest and most trusted money transfer companies in the world. That just makes sense.
What does it cost?
The Currency Shop does not charge you. Instead, we receive a referral fee from the banks and money transfer companies that we are partnered with. This does not affect the price you pay.
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