Money Matters

Money matters! Read the following frequently asked money-related questions before you arrive in Manchester.

Can I bring money into the UK from my country?

You can bring money into the UK in:

  • sterling notes;
  • travellers’ cheques
  • banker’s draft; and/or letters of credit.

If you are entering or leaving the UK and you are carrying 10,000 euros or more in cash, this must be declared. This includes cheques, travellers’ cheques, bankers drafts etc.

These controls will not apply to anyone travelling within the EU or travelling via the EU to a non-EU country, as long as the original journey started outside the EU. For further information and contact details, visit the HMRC website. It is also a good idea to check on any regulations in your home country regarding taking money in and out of the country.

How much cash will I need after I arrive in the UK?

You will need some sterling cash for expenses during the first week. However, we do not recommend bringing or carrying large amounts of cash with you. If possible, make arrangements to transfer money to a UK bank account. If you do not have access to a UK bank account, it is also a good idea to have a further £350 available in travellers’ cheques and a credit card for emergencies. You will need money for items such as food, local travel, books, equipment, clothes and other necessities.

You may also need extra money for accommodation, for example for a deposit or the first month’s rent.

Can I set up a British bank account?

If you are staying in Manchester for a longer period of time (six months or more), it is a good idea to try and set up a UK bank account. Students who are here for a shorter amount of time may find it more difficult to open an account due to restrictions by the major banks. If you wish to set up the account before you travel, you will need to contact your own bank to check if this is possible and how it is best done from your home country.

When setting up your account, you will need to show your Letter of Acceptance sent to you by The Essential English Centre, plus proof of your address in the UK. Because of this requirement, you may not be able to open a bank account immediately after your arrival, and you should ensure that you have sufficient money to cover your expenses.

If you have any other questions related to money matters, contact us today and one of the team will be happy to help you.

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