It's not always better to exchange before you flyIf you're travelling with a popular currency such as US dollars or GBP, you're unlikely to have issues exchanging your currency once you touch down.
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Buy currency before you travel.Doing so gives you time to shop around for the best rate. Plus, when you arrive, you won't have to immediately find a bank or currency exchange. Do some research ahead of time to see if US dollars are widely accepted at places you plan to go to.
Don't Expect to Get Too Far Without CashThere's a lot that you can buy with a credit card in Europe, so bring at least one. But don't expect to get very far without a little cash, too—especially if you're a tourist. Transportation services, such as taxis and buses, often require local currency.
The Best Way to Handle Money in the UK as a VisitorATMs in the UK do not charge you a fee, so you will be hit by your bank's charge and the exchange rate provided, but this is often cheaper than bringing physical money and exchanging it.
Resist the urge to buy foreign currency before your trip.Some tourists feel like they just have to have euros or British pounds in their pockets when they step off the airplane, but they pay the price in bad stateside exchange rates. Wait until you arrive to withdraw money.
It isn't enough for accomodation, not really even if the whole £500 is just for the accomodation. Accommodation would cost more than that, and you would have to have at least £300 for food. If you wanted to visit places like the Tower of London, and even St Paul's Cathedral you would need about £200 for that.