Your finances and fees

Checklist

Bank accounts

There is no limit on the amount of money you can bring with you into Britain, but you may need the approval of exchange control in your own country. Start preparing well in advance by asking advice from your bank at home. If you are carrying €10,000 (or equivalent currency) in cash to the UK and you are travelling from outside the European Union you must complete a cash declaration form. More information is available from the HMRC C9011 form at hmrc.gov.uk

There are different types of bank accounts available in the UK. Most students choose a current account at a bank or a digital bank. This is the basic account which you use for dayto-day purchases and deposits. This type of account normally comes with a cash card, with which you can take money from cashpoints (ATMs) up to a daily maximum limit. Cashpoints are usually accessible 24-hours a day and located on the exterior walls of banks and in some shops. Some cash machines charge a fee but they will tell you this before completing the transaction.

Opening a bank account

You cannot open most UK bank accounts until you are in the UK and have registered on a programme of full time study. We recommend that you open a bank account as soon as you get to the UK. All major banks are represented in Exeter and Truro town centres. It can take up to two weeks to open a bank account. You should therefore make sure that you bring enough money or a pre paid travel card (such as Caxton) or opening a digital bank (ie. Starling Digital Bank or Monzo) to cover your expenses for the first few weeks in the UK until your UK bank account is functioning. Be aware Streatham campus is a ‘cashless campus’.

Please do not carry large amounts of cash with you or keep large amounts of cash in your room for security reasons.

To open an account in the UK you will need:

• an application form from your preferred bank;

• your passport;

• evidence of your immigration status eg. valid visa, settled/ pre-settled status;

• confirmation that you are a full time student. Print a bank letter from the iExeter Student Record tab once you have registered online or from the Student Information Desk in the Forum on the Streatham Campus or Penryn Info Point in the Peter Lanyon Building at the Penryn Campus;

• proof of your address in the UK. This may be confirmed by the University if you have University accommodation or by a formal tenancy agreement if you are in private accommodation; You can request a bank letter from SRS in iExeter, or asking SID or PIP when you are on campus.

It is not always possible for students on short courses or exchange programmes to open bank accounts. If you have difficulty please contact the Student Information Desk: exeter.ac.uk/sid

Once you have successfully opened a UK bank account, please ensure you provide the account details via the student online portal ‘iExeter’ i.exeter.ac.uk