It is not common to use cash in London, as the city is rapidly transitioning to a "cashless" society where card, contactless, and phone payments (Apple/Google Pay) are preferred and widely accepted. While cash is still accepted in some locations, many shops, restaurants, and transport services have gone card-only.
Majority of places accept both card and cash. The amount of places that are card only are pretty much on par with the amount that are cash only. As a visitor, you don't necessarily need cash as you probably won't know about or visit the cash only places.
Which way will you pay in the UK? In most cases, paying by card is more convenient than cash, though we always recommend carrying a small amount of cash for parking, taxis, small purchases and tips. Ideally, take a Wise Mastercard and a Visa debit or credit card with you – plus a small amount of cash.
From pubs to restaurants, London's business owners are turning down physical cash and providing a card-only service. But what has driven this change? Well, let's take a look at some of the benefits of a cashless society and you can see for yourself why the move towards cashless is trending.
Interestingly, while London is undoubtedly becoming more cashless—many shops and restaurants now prefer card payments—there are still places where having some cash on hand is beneficial. For instance, small vendors at markets like Borough Market or Camden Lock often only accept cash.
Visitor's Guide to Money in London 💷(skip the currency exchanges)
Why is cash not accepted in London?
While legal definitions vary across regions, the UK government, in response to a 2022 petition, affirmed the autonomy of businesses to choose what specific payment methods they accept. Various shops opt for cashless transactions due to cost reductions in cash management.
Sweden has officially become the first country in the world to go completely cashless. Almost every shop, café, and public transport system in Sweden now accepts only digital payments like cards or mobile apps. The popular app “Swish,” launched in 2012, is used by millions of Swedes to send and receive money instantly.
It is customary to leave 10 to 15% of the bill when eating out. However, restaurants often add on a service charge (usually 12.5%), especially if you're in a large group, so it's worth checking your bill if you don't want to tip twice.
Based on recent checks, many McDonald's outlets in the UK are moving towards card-only payments, but some still accept cash, especially in less urban areas. To see if your local McDonald's is taking cash right now, check the official site or just call ahead.
London's "1 hour rule" refers to the Hopper Fare, which allows unlimited bus and tram journeys for a single £1.75 fare within one hour of your first tap-in, using the same contactless or Oyster card. It means you can switch between buses and trams as much as you like, even linking with the Tube or DLR (though the main benefit is bus/tram hopping), without paying again, provided your subsequent taps are within 60 minutes of the initial touch.
The 2/3/4 rule for credit cards is a guideline, notably used by Bank of America, that limits how many new cards you can get approved for: no more than two in 30 days, three in 12 months, and four in 24 months, helping manage hard inquiries and credit risk. It's a strategy to space out applications, preventing too many hard pulls on your credit report and helping maintain financial health by avoiding over-extending yourself.
While having cash can be useful in some scenarios (such as for tipping), you'll find London is largely a cashless city – with contactless payments at shops, restaurants and on public transport common. It's a good idea to take a travel-friendly credit or debit card with you when you travel to London.
Well, unlike the rest of England, London is mostly cash free so you don't need much. If I were traveling solo, I'd bring about 50 pounds that would be for small purchases and gratuity and because it's such a small amount, I would exchange it at the airport before leaving home.
Yes, in the U.S., a 10% tip is often considered low and potentially insulting for standard sit-down restaurant service, where 15-20% is the norm, but it can be acceptable for mediocre service or in regions where tipping culture differs (like parts of Europe). The perception depends heavily on location, service quality, and the type of establishment, with fine dining expecting more and takeaway sometimes expecting less, but a 10% tip generally signals dissatisfaction with service in America.
Taxi drivers should get tipped 15% of the fare, but a minimum tip is US $2. Ridesharing services such as Lyft and Uber offer an in-app method for tipping. It's recommended to tip 15–20% for a great service, 10–15% for good service, and 10% for mediocre service. Don't forget, your Uber or Lyft driver will rate you, too.
Budget around 10-15% of the treatment price. That means that for a massage costing you 100 British pounds, you might consider leaving a tip of 10 British pounds if the service was average, or as you'd expect - or say thanks with a 15% tip if the therapist provided an outstanding treatment.
“There are clear and distinctive categories – 50% for needs, 30% for wants and 20% to put aside as savings.” If £1,500 comes into your account each month, this means £750 would go towards your 'needs' – rent, council tax, energy bill, food and transport to and from work.
When is the cheapest time to visit London? Usually, the period between January and March is the cheapest time to visit London, due to the cool temperatures, occasional rainfall, and lack of public holidays and events.
According to the Swedish central bank, only 8% of the population used cash in 2022, and the amount of physical currency in circulation has dropped by half since 2007. With digital wallets, instant mobile transfers, and biometric identification, daily transactions in Sweden have become almost entirely virtual.
The UK is moving towards a cashless society, but unless policymakers act carefully, digital payments could make life harder for the elderly, the poor, or anyone left out of the digital revolution, experts have warned.
One of the disadvantages of cashless payment is the breach of data by hackers and loss of money due to fraudulent transactions. However, there are counter measures implemented to prevent frauds.
