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Foreign Exchange Guide to Isle of Man

Read this currency guide to Isle of Man with money transfer and travel tips.   [USD/GBP=0.7983]

 
Isle of Man
Country Code:
IM
Domestic Currency:
British Pound Sterling
Symbol - Code:
£ GBP
Telephone Prefix:
+441624

This is a foreign exchange guide to Isle of Man, the British Pound Sterling currency plus GBP transfers and travel tips.


In this Isle of Man currency guide we take a look at :

  1. British Pound Sterling info - general info about the British Pound Sterling
  2. British Pound Sterling in the markets - recent GBP moves and predictions from the FX markets
  3. Travelling in Isle of Man - currency & money saving tips
  4. Buying British Pound Sterling cash online - travel money for Isle of Man
  5. Sending money to Isle of Man - save on British Pound Sterling bank transfers to Isle of Man
  6. British Pound Sterling exchange rates - latest & historic exchange rates.
  7. GBP News - the latest British Pound Sterling related articles from our blog.

British Pound Sterling (GBP) general currency information


What is the British Pound Sterling currency code and symbol?

The three letter currency code for the British Pound Sterling is GBP and the symbol is £.


Which countries use the British Pound Sterling?

It is the domestic currency in United Kingdom, Guernsey, Isle of Man, Jersey and South Georgia And South Sandwich Islands.

The British pound (ISO: GBP) is one base unit of sterling – that being the name of Britain's currency – and is subdivided into 100 pence.

Contributing to around 13% of all foreign exchange deals, the pound, or sterling, is the world’s fourth most traded currency.

Reputedly, sterling is 1200 years old. It is said that Anglo-Saxon traders used silver pennies in the eighth century called ‘sterlings’, 240 of which would equal one pound in weight.

Due to its membership of the European Union, Britain could have adopted the euro as its currency upon its introduction in 1999, however the British government opted against this because it wanted to retain monetary policy independence and because it perceived euro adoption as offering only small economic benefits.

In recent years, the most significant event to affect sterling’s valuation was the UK’s vote to leave the European Union on June 24th 2016 – a day on which the exchange rate for GBP/USD fell by as much as 11%.

In the past two decades, the pound’s highest valuation against the dollar occurred in November 2007 when GBP/USD reached 2.1161. Its lowest value came in October 2016, three-and-a-half months after the historic ‘Brexit’ vote, when GBP/USD reached 1.1905.


British Pound Sterling (GBP) in the markets

The pound slipped to a 5-month low of 1.12 euros in June. Against the US dollar, it climbed away from May’s multi-month low of $1.256 to $1.27, but was still 5 percent lower than March's high of $1.338.

Brexit paralysis in the UK has led to declines in business investment and two months of economic contraction (for the months of March and April).

Pound valuations will continue to fluctuate based on No-deal, Deal and Remain probabilities. No-deal prospects may increase if, as is predicted by betting markets, ardent Brexiteer Boris Johnson becomes the UK’s next prime minister. However, some banks argue that Johnson’s appointment would make little difference to no-deal or remain probabilities.

The pound is receiving some support from the Bank of England which, surprisingly, is the only major central bank to be considering raising interest rates this year.

For more details read the full article British Pound Sterling Forecasts.

The interactive chart below shows the USD to GBP exchange rate and trend for the previous 3 months:

Travel, Currency and Money saving tips for Isle of Man

 

The Isle of Man is a totally underrated little island – like a mini version of mainland Britain, with all of its different landscapes on a small scale. The Manx scenery rivals that of the Lake District and Highlands but it doesn’t have the volume of tourists, which makes it much better.What you'll find here is beautiful scenery in the lush valleys, barren hills and rugged coastlines. In 2016 Unesco designated the Isle of Man a biosphere reserve (one of five in the UK), marking it out as one of the most beautiful spots in Britain to enjoy nature. That bucolic charm is shattered during the world-famous Tourist Trophy (TT) motorbike racing season, which attracts 50,000 punters every May and June. Needless to say, if you want a slice of silence, avoid the high-rev bike fest.

Isle of Man.

Getting around in the Isle of Man.

Located in the south of the Island, the Isle of Man only airport - Ronaldsway – is regularly serviced by a bus route to bring you to the town or village where you wish to stay. Alternatively, you can call for a taxi or hire a car straight from the airport to get to your destination. If you decide to travel to the Isle of Man by sea, you can come by foot or by car. The Steam Packet Company operates regular ferry services to the Island from Heysham, Liverpool, Birkenhead, Dublin and Belfast using two reliable vessels – the 96-metre wave piercing catamaran, Manannan, or the conventional Ben-my-Chree.

Taxis can also be found in the majority of the main towns and villages in the Island, giving you complete control of where you want to go without having to rely on fixed schedules. There’s an extensive bus network - Bus Vannin – that serves the whole Island on a regular basis including Ronaldsway Airport and the Sea Terminal in Douglas.The Isle of Man Steam Railway, Manx Electric Railway and Snaefell Mountain Railway are a fun way to explore the Island’s impressive landscape and heritage sites. It is the longest narrow gauge steam line in Britain that still uses its original locomotives and carriages which will carry you through the charming countryside between the Island’s capital and a range of destinations in the south.

Isle of Man.

Travel tips for the Isle of Man.

There is an irony to the fact that Isle of Man is not part of the UK, yet it is the only location in the British Isles from which you can see all the UK’s constituent parts – on clear days, England, Wales, Scotland and Northern Ireland are visible from the 2,037ft Snaefell, reached via the Snaefell Mountain Railway.

Niarbyl (meaning ‘the tail’ in Manx) is a craggy, rocky beach with a really good café overlooking it on the edge of a cliff. As you might expect, the views are amazing from the café. But the food is top notch too, including fresh local crab. Try and get the table upstairs for the full-on sea view. They have local bottled beer, but you have to ask for it

 

Travel money for Isle of Man

 

Save money and time by Ordering your British Pound Sterling online from Travelex, you get better rates and can pick up the GBP cash locally or even on travel day at the airport.

Another popular option is to use a Pre-paid Travel Card. Your Debit/Credit Card provider will charge you 2% from market mid-rate, but your bank may also charge an extra 3% as an “Overseas Transaction Charge” plus “Overseas ATM” fees for withdrawing cash.

For card purchases if offered a choice of currencies always select to Pay in British Pound Sterling otherwise you may get much worst exchange rates.

 
Travel Money ProvidersAmount GBP(£)Exchange RateFee USDTotal CostDeal Links
U.S. Bank Foreign Currency
U.S. Bank logo
746.80 GBP
Compare
0.746806.39%
Banks - Average Rate
U.S. Bank logo Wells Fargo Bank logo
739.33 GBP
7.47 GBP
0.7468$107.33%
Wells Fargo Bank logo
731.86 GBP
15 GBP
0.7468$208.27%
Travelex Online US logo
722.10 GBP
25 GBP
0.72210^9.49%
 

U.S. Bank logoU.S. Bank

U.S. Bank: Travel Money USD→GBP
USD amount:$1,000 USD
Fee:0
Exchange Rate:0.7468 (6.39% from mid-rate)
GBP amount:746.80 GBP
Total Cost:6.39%
Time:6:01 Local
Currency Services:Branch
Delivery/Collect:-
Rating:
: /5.0
Reviews:
 

Banks - Average Rate

Travel Money USD→GBP
USD amount:$1,000 USD
Fee:$10 USD (1%)
Exchange Rate:0.6981 (12.5% from mid-rate)
GBP amount:739.33 GBP
Total Cost:7.33%
Currency Services:Branch
Delivery/Collect:-
 

Wells Fargo Bank logoWells Fargo Bank

Wells Fargo Bank: Travel Money USD→GBP
USD amount:$1,000 USD
Fee:$20 USD (Minimum fee)
Exchange Rate:0.7468 (6.39% from mid-rate)
GBP amount:731.86 GBP
Total Cost:8.27%
Time:6:01 Local
Currency Services:Branch
Delivery/Collect:-
Rating:
: /5.0
Reviews:
Travelex Online US: Travel Money USD→GBP
USD amount:$1,000 USD
Fee:$0 - No fees for Debit & Credit Cards
Exchange Rate:0.7221 (9.49% from mid-rate)
GBP amount:722.10 GBP
Total Cost:9.49%
Time:
Rate Fetched: Tue Jun 18 2019 04:00:05 GMT+0000 (UTC)
Currency Services:Online order, Branch pickup, Home delivery
Delivery/Collect:2-3 days
Rating:
 
: 4.3/5.0
Reviews:
 
Snapshot 06/18/2019 - See full table
 

Isle of Man Trip Checklist    

 
  1. Compare GBP travel cash rates - probably why you are here!
  2. Lonely Planet - world's best travel guide (coupon and deals)

Sending money to Isle of Man

When searching around for information on how to get a good exchange rate when sending money to Isle of Man you need to start with finding out the latest British Pound Sterling foreign-transfer exchange rate.

Then compare your bank's exchange rates to several licensed FX providers exchange rate and fees to see how much you can save (we make that calculation easy here).


Get a better deal for foreign transfers to Isle of Man

When sending money to Isle of Man it’s important to compare your bank’s rates & fees with those we have negotiated with our partner money transfer providers. To get a better deal you should follow these 4 simple steps :

  1. Open an account with a BER reviewed FX provider (id docs may be required)
  2. You specify the local or British Pound Sterling amount you want to transfer
  3. Make a local currency domestic transfer for the requested amount to the provider's bank account in your country
  4. Once your funds are received by the provider the converted GBP amount will be transfered to the recipient account you specify in Isle of Man.

Use our Send to GBP calculator to compare the exchange rates of FX specialist providers rates versus your bank's standard rates you can hopefully save around 5% and maybe more - end result is more British Pound Sterling deposited into the recipient bank account and less margins and fees kept by the banks!

 
Foreign Transfer ProvidersReceive GBP(£)Exchange RateFee USDTotal CostDeal Links
OFX logo
7,912 GBP
Best Overall
0.79120^0.83%
Wells Fargo Bank logo
7,748.03 GBP
164 GBP
0.7762182.88%
HSBC logo
7,742.37 GBP
170 GBP
0.7754$152.95%
Banks - Average Rate
Bank of America logo U.S. Bank logo Wells Fargo Bank logo HSBC logo
7,695 GBP
217 GBP
0.7740153.55%
Bank of America International Money Transfers
Bank of America logo
7,644.78 GBP
267 GBP
0.7722$1004.18%
U.S. Bank International Money Transfers
U.S. Bank logo
7,644.78 GBP
267 GBP
0.7722$1004.18%
 
OFX: Foreign Transfer USD→GBP
USD amount:$10,000 USD
Fee:0^ - No fees for BestExchangeRates users (normally $12 for smaller transfers)
Exchange Rate:0.7912 (0.83% from mid-rate)
GBP amount:7,912 GBP
Total Cost:0.83%
Time:
Rate Fetched: Tue Jun 18 2019 04:02:24 GMT+0000 (UTC)
Transfer Speed:1-2 days
Services:Bank Transfers - Online & Phone, Foreign Currency Accounts
Rating:
 
: 4.8/5.0
Reviews:
 

Wells Fargo Bank logoWells Fargo Bank

Wells Fargo Bank: Foreign Transfer USD→GBP
USD amount:$10,000 USD
Fee:18
Exchange Rate:0.7762 (2.71% from mid-rate)
GBP amount:7,748.03 GBP
Total Cost:2.88%
Difference:
164 GBP less than using OFX
Time:6:00 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 

HSBC logoHSBC

HSBC: Foreign Transfer USD→GBP
USD amount:$10,000 USD
Fee:$15 USD (.15%)
Exchange Rate:0.7754 (2.81% from mid-rate)
GBP amount:7,742.37 GBP
Total Cost:2.95%
Difference:
170 GBP less than using OFX
Time:6:00 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 

Banks - Average Rate

Foreign Transfer USD→GBP
USD amount:$10,000 USD
Fee:15
Exchange Rate:0.7706 (3.41% from mid-rate)
GBP amount:7,695 GBP
Total Cost:3.55%
Difference:
217 GBP less than using OFX
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
 

Bank of America logoBank of America

Bank of America: Foreign Transfer USD→GBP
USD amount:$10,000 USD
Fee:$100 USD (1%)
Exchange Rate:0.7722 (3.21% from mid-rate)
GBP amount:7,644.78 GBP
Total Cost:4.18%
Difference:
267 GBP less than using OFX
Time:6:00 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 

U.S. Bank logoU.S. Bank

U.S. Bank: Foreign Transfer USD→GBP
USD amount:$10,000 USD
Fee:$100 USD (1%)
Exchange Rate:0.7722 (3.21% from mid-rate)
GBP amount:7,644.78 GBP
Total Cost:4.18%
Difference:
267 GBP less than using OFX
Time:6:00 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 
Snapshot 06/18/2019 - See full table
 

GBP/USD - British Pound Sterling to United States Dollar - Historical Rates

PeriodChange*GBP/USDDate
1 Day-0.46%1.259316 Jun 2019
1 Week-1.23%1.269110 Jun 2019
1 Month-1.45%1.271918 May 2019
6 Months-0.72%1.262619 Dec 2018
1 Year-5.58%1.327617 Jun 2018
5 Years-26.16%1.697718 Jun 2014
10 Years-24.01%1.649519 Jun 2009

*For period to 17-Jun 21UTC when GBP/USD was 1.2535

GBP/EUR - British Pound Sterling to Euro - Historical Rates

PeriodChange*GBP/EURDate
1 Day-0.5%1.122816 Jun 2019
1 Week-0.36%1.121210 Jun 2019
1 Month-1.94%1.139318 May 2019
6 Months+0.76%1.108819 Dec 2018
1 Year-2.44%1.145117 Jun 2018
5 Years-10.62%1.250018 Jun 2014
10 Years-5.41%1.181119 Jun 2009

*For period to 17-Jun 21UTC when GBP/EUR was 1.1172

GBP/AUD - British Pound Sterling to Australian Dollar - Historical Rates

PeriodChange*GBP/AUDDate
1 Day-0.1%1.831016 Jun 2019
1 Week+0.33%1.823110 Jun 2019
1 Month-1.32%1.853518 May 2019
6 Months+3.04%1.775119 Dec 2018
1 Year+2.51%1.784317 Jun 2018
5 Years+1.12%1.808918 Jun 2014
10 Years-10.43%2.042019 Jun 2009

*For period to 17-Jun 21UTC when GBP/AUD was 1.8291

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