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Newcastle University
Living away from home comes with a variety of new responsibilities
The following provides an introduction to British currency, as well as details on international banking.
Currency across the UK is the pound sterling (£GBP). One pound is divided into one hundred pence (100p). Notes are issued to the value of £50, £20, £10, and £5, and coins to the value of £2, £1, 50p, 20p, 10p, 5p, 2p and 1p. Please note that £50 notes are very uncommon and should be avoided as they can often be the target of counterfeiters. We do not advise carrying large sums of cash with you on arrival.
Your living expenses will include accommodation, food, travel and entertainment. Check out well-known supermarket websites like Tesco to see the costs of food in the UK, and stores like Debenhams to see the costs of clothes.
As an international student it is also important you have enough money to cover your tuition fees and living costs before you leave your home country. You will not be issued a UK visa without providing evidence that you have sufficient personal savings - you can learn more about this at the UK Border Agency website.
Many UK banks offer bank accounts for international students, but they can sometimes take several weeks to set up. To make the process easier you may want to find a bank in your home country that has branches in the UK.
You can sometimes transfer money from your home country to a UK bank account, but you must first check with your government that you are legally entitled to do so. If you are planning on using your debit or credit cards while you are in the UK, it is also a good idea to let your bank know.
If you are going to be here for longer than six months, we strongly recommended you open a UK bank account when you arrive. UK banks are open 9am to 4.30pm on weekdays and some are open on Saturday mornings. If you bring a banker's draft in sterling with you (payable to yourself) or arrange for it to be sent, then you can open a bank account after you have registered on your course.
It may also be useful to bring a letter from your bank at home (or some other documentation) to confirm your credit status. We will provide you with further information and support on opening accounts during your induction week. In order to open a bank account you will need the following: