The station is in Travelcard Zone 1 and near the Tower of London. The entrance to the station is located a few yards from one of the largest remaining segments of the Roman wall which formerly surrounded what is now the City of London.
It is on the Circle Line between Monument and Aldgate, and the District Line between Monument and Aldgate East. It is a few yards to Tower Gateway DLR station and Fenchurch Street railway station. The station underwent some much delayed refurbishment which was completed sometime in 2008.
It was built on the site of the former Tower of London tube station that was closed in 1884. It opened in 1967 and replaced a station with the same name, but earlier called Mark Lane tube station, that was farther west.