I wanted to write this post since people moving abroad have so many choices when it comes to banks. It’s difficult enough when you’re opening a new account in your home country, but opening one in a foreign country as a student can be tricky. I hope by sharing my experience, you can avoid some mistakes and ask questions about any hidden fees instead of relying on the advice of your school’s administration. Remember, this is YOUR money!
When moving abroad, one of the first things you should do is open a bank account. Even if you don’t have a job yet, you can still transfer money over from a non-UK bank. When I moved to the UK, I did not close my US bank account since I knew I would eventually move back after graduation. Plus, it makes a lot of sense to keep a bank account in your home country in case family members are feeling generous and offer to transfer some much-needed money to you!