Most cashiers and shop assistants would say "That's two oh one" please. We frequently omit the "pounds" and "pence" parts.
That's £1.50 - That's one fifty.
£8.49 please - Eight forty-nine please.
Theoretically, that could be confusing because, for example, "That's £150" can also be said as "That's one fifty". However, the listener is very likely to know whether they have spent £1.50 or £150 and, of course, most shop tills show the amount too.