International Student Money Saving

AlexBr · 25 February 2017 at 12:16AM

I have been able to secure an Erasmus+ year in Spain, which entitles me to not only the normal SLC finance, but also to a grant from the Erasmus+ organisation as well as around £1000 directly from my university. I will be spending between 6-12 months in a major Spanish city, as yet to be decided, starting in September this year.
Is it worth me transferring as much of my loan/grants to a Spanish bank account in Euros as I can, or is it safer/more cost effective to keep my money in the UK? Has anyone any experience with international student bank accounts?
Thanks in advance!

Flugelhorn · 25 February 2017 at 12:22AM

My son did similar in Germany a few years back - he opened a student bank account when he got there, couldn't do it until he had proof of address and local registration etc. he transferred enough to pay for accommodation (Uni would only take payments from a German account) and what he thought he needed to live on. Was able to transfer more if needed from UK bank account. Got it down to a fine art taking out the last 4 euros when he left the country

agrinnall · 28 February 2017 at 10:31AM

It's probably worth looking at Santander to see what they can offer to someone who has accounts in both the UK and Spain. You might be better to ask on the banking board as most of the issues to be faced are not necessarily specific to student accounts.

International Student Money Saving

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