Transport for London has teamed up with Raphaels Bank to introduce cash points at 70 London Underground stations which dispense both pounds and euros.

The move is part of TfL’s work to modernise and improve the services available to customers across the transport network.

UK cardholders can withdraw sterling for free from the distinctive new cash points, which are situated in prime locations across the LU network including Waterloo, London Bridge and King’s Cross St Pancras stations.

Euro withdrawals are commission free, with rates aimed at beating the largest currency exchange providers.

The service has been designed to make it easier for busy London workers, commuters and residents to be able to get their cash for local use as well as trips abroad.

Graeme Craig, director of commercial development at TfL, said: “As part of our ongoing plans to improve the services on offer for our customers, we have worked with Raphaels Bank to install these cash points at stations across our network.

“Millions of people use our network each year, including going to or from an airport, Eurostar and coach stations, and these machines have been installed to make it easier for people to access the currency they need.”

With London being officially recognised as the most popular tourist destination in the world, thanks to almost 17 million visitors last year, the partnership with Raphaels Bank will not only generate commercial revenue for TfL to reinvest back into the transport network, but will make it easier for visitors to the capital and those travelling to countries across Europe to access the currency they need.

TfL has been working with local, national and international retailers to provide a range of services to customers, and the partnership with Raphaels will provide a completely new service that benefits both Londoners and visitors to London.

Over the past seven months, TfL has introduced a number of click and collect services as well as pop-up shops, bringing new and innovative retailers to customers using the transport network which is responsible for an average of over 11 million journeys every day.