|
Banking
Services
 |
There is no
restriction on the amount of money that you can bring into
the UK, nor on its form (cash, traveller’s cheques, banker’s
drafts or letters of credit). Although it is advisable to
bring some cash (sterling) with you when you first arrive,
you should not have any problems changing money in the UK.
|
There are exchange facilities
at airports and major railway stations, and banks and building societies
will also change currency (usually at lower commission rates). The
easiest way to transfer money is by electronic transfer from your
bank in your home country into your UK bank account. The bank in you
home country will need to know the UK bank's name, full address and
sort code, your name and your account number.
For some international
students it is possible that restrictions may apply to the transfer
of money out of your own country. Some countries apply an upper
limit to the amount of currency which may be converted in any one
year. You will need to make arrangements to transfer money well
before your course starts, letting the authorities know what course
you are studying and where, and depositing money in a UK bank or
building society once permission is granted.
Once you are in UK
you will probably need to choose a bank or building society and
open an account. All our Partner Universities have various banks
on campus. The most useful form of account is a current account
which allows you to pay in money and draw it out using a cheque
book or automatic cash dispenser. If you have money which you do
not need immediately it is advisable to open a deposit account which
will earn you interest (however, some require advance notice if
you wish to make a withdrawal without losing any interest).
Most banks will give
students a cheque book and guarantee cards, as well as a cash dispenser
(ATM) card. In addition, many banks offer special terms to students
with regard to bank charges and overdraft facilities but check first
as not all banks extend these benefits to international students!
To open an account you will have to complete an application form
from your chosen bank or building society. You will have to show
proof of identity (e.g. passport), UK address (e.g. a utility bill)
and student status (e.g university enrolment letter or student card).
You may also need to show evidence of income (from sponsor or family)
or savings, and to make an initial deposit into the account. It
may be helpful to bring references from your bank at home, if you
already have one.
back
to top
|
Ask
UniAdmission 
