International student:is it really necessary to open a UK bank account? Watch

JosephineM
Badges: 0
Rep:
?
#1
Report Thread starter 11 years ago
#1
Hi! I am from outside the UK,I am starting University in autumn and I was wondering why is it necessary to open a bank account in UK.I know it may seem like a foolish question but why couldn't I just open a bank account in my home country(providing me with a debit/credit card) and just use the card in UK with a cash machine? I know it doesn't work for large sums of money but the tuition fees are paid directly to the uni by SLC and the accommodation instalments are paid online from my home country.So,what's the point in opening a bank account?
Thanks for reading.
0
quote
reply
Dirtsurfer
Badges: 0
Rep:
?
#2
Report 11 years ago
#2
Your bank will probably charge you for overseas transactions. For example, my bank in the UK (Lloyds TSB) charges £1 plus 1.5% for all overseas transactions I make.

If your bank does this, the charges will build up rapidly over the course of the year so you're basically losing money.
0
quote
reply
lili-anna
Badges: 0
#3
Report 11 years ago
#3
because taking money from a cash machine with a foreign card is really ( REALLY! ) expensive .... you will probably end up using the cash machine only once a month to avoid these costs ...
and as you can't keep 600£ or so in cash YOU NEED TO OPEN A BANK ACCOUNT

why? WHY?! isn't the UK using EURO ?! It would be easier : /
and cheaper ; )
0
quote
reply
X

Reply to thread

Attached files
Write a reply...
Reply
new posts
Latest
My Feed

See more of what you like on
The Student Room

You can personalise what you see on TSR. Tell us a little about yourself to get started.

Personalise

Should Banksy be put in prison?

Yes (249)
14.47%
No (1472)
85.53%

Watched Threads

View All