I've been searching Hostel World but to be honest I'm wary as I've never traveled alone before except for trips to see relatives. They have an 80% guest rating which, compared to many of the hostels on there, seems pretty good (It's this one:
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The rate of exchange for using an atm card would be whatever it is on the day the transaction finalizes, wouldn't it? Or would it be the exchange the day of the purchase?
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the foreign exchange kiosks, however, offer a crappy rate (they rate they show is the rate for which they *buy* pounds/euros/... but you want them to *sell* you pounds/euros/... so that's a different rate ... and then they add a surcharge besides!
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Another visit, I stayed in this hotel because I was splitting the room cost. Earl's Court was convenient.
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http://www.hostels.com/hosteldetails.php/HostelNumber.523
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http://www.hostelworld.com/hosteldetails.php/Palmers-Lodge-Swiss-Cottage/London/14348
I'm going to echo everyone else and say, don't use the money exchangers! Just bring your ATM card and use that. However, make sure you notify your bank that you'll be using your ATM card abroad! Exchanges happening in a foreign country qualify as "suspicious activity" for most banks, and they might freeze your card. But as long as you let them know where you're traveling to and when you'll be there, you should have no problem using your card at British ATMs.
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Palmers Lodge Swiss Cottage is great, and the only thing I'd tell you to do is bring slippers because if you're in the basement level and the showers are being used by seven other girls, then it's going to be wet for a lot of the time. :P
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