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Money questions for international students

Hi guys! The day of my departure to the UK is quite a bit away, but one thing that's pressing my mind is how did you guys move money from your home country to the UK? I know it might seem like a silly question, but I'm absolutely stumped of how to move such large amounts of money to the UK and having to pay ridiculous fees (wire transfer) or having it take forever to clear (bank draft). Can you guys tell me what you did?:confused::confused:
Reply 1
Avatar for Pariah
Pariah
15
A sterling bank draft will clear in a few days. Hardly 'forever'.
Reply 2
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aalightburn
OP
7
Original post by Pariah
A sterling bank draft will clear in a few days. Hardly 'forever'.



Are you saying this from personal experience? I was told by both my bank and it was listed on my uni website that it will take around two weeks.
Reply 3
Avatar for Pariah
Pariah
15
Yes. In my experience a sterling bank draft from a us bank will clear in about five business days, sometimes as few as three.

What may be more of an issue is getting an account open to pay it into - and possibly this is why you have been advised that it will take longer. I assume that you don't have a uk bank account? Probably worth talking to your uk uni about what other overseas students do.
I opened a bank account here in the UK and moved money from my Dutch one into it, didn't take too long, but I guess its dependant on where you're moving the money from. The only 'problem' I had was that since I hadn't been living in the UK for 3 years, I couldn't get a student account. Not even sure exactly what benefits you get from it but having a regular account has worked just fine for me
Reply 5
Avatar for aalightburn
aalightburn
OP
7
Original post by Pariah
Yes. In my experience a sterling bank draft from a us bank will clear in about five business days, sometimes as few as three.

What may be more of an issue is getting an account open to pay it into - and possibly this is why you have been advised that it will take longer. I assume that you don't have a uk bank account? Probably worth talking to your uk uni about what other overseas students do.


Yeah, I'd have to get a international student bank account. I'm not coming from the US, so your time frame might not be mine. Thanks for the feedback anyways :smile:
Reply 6
Avatar for aalightburn
aalightburn
OP
7
Original post by alexschmalex
I opened a bank account here in the UK and moved money from my Dutch one into it, didn't take too long, but I guess its dependant on where you're moving the money from. The only 'problem' I had was that since I hadn't been living in the UK for 3 years, I couldn't get a student account. Not even sure exactly what benefits you get from it but having a regular account has worked just fine for me


Did you get a normal bank account or an international student bank account?
Original post by aalightburn
Did you get a normal bank account or an international student bank account?


I just have a regular one, didn't even know int'l student accounts were offered :P might just be my bank tho

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