The pound
.... The unit of British money are pound sterling, "£", and pence, "p". There's £50, £20, £10, and £5 bills; £1 (100p), 50p, 20p, 10p, 5p, 2p and 1p coins. Now there's also a £2 coin. The exchange rate has been between US$1.60 and US$1.70.

Bank & Exchange
.... Try to always change money at banks. They usually have better rates. Traveler's Checks are accepted but not everywhere. Visa, American Express and Mastercards are widely accepted. Traveler's Checks from American Express can be cashed without a fee at Amex offices. There's one at Regent St.

Tipping
.... Many restaurants will automatically add a 10% to 15% service charge to your bill, so check in advance before handing out extra money. You may leave 20p to a washroom attendant. Taxis take between 10% and 15%, porters get 50p-£1 per bag, doormen £1 for hailing a taxi or carrying bags to check-in. Give bellhops £1 for room service or carrying bags to room, 10% to 15% to hairdressers plus £1 or £2 for the hair-washer.