Supporting a Foreign National Studying in the UK?
Discover how to Make your Money go Further


Whether you’re a foreign student who’s come to the UK to study, or are a proud parent paying the way for one, you already know that an education over here can open doors anywhere in the world.

 

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But high quality learning comes at a price. Research shows that a foreign student in London needs at least £20,000 a year to cover tuition fees, study materials and living expenses. That kind of money can be difficult for hard-pressed students or their families to find. Which is why it’s important to seek out ways you can save. You might not have considered it before, but changing the way you transfer currency is a smart place to start. Dealing with the banks can be time-consuming and stressful, while poor exchange rates and sky-high transfer fees can give students even less money to live on.

That’s where we can help.


At currencytoday.co.uk our experts have scoured the web and utilised industry expertise to bring you trusted currency brokers who can save you time and money. So next time you transfer currency you can enjoy bank-beating exchange rates, low transfer fees and a hassle-free service. Check out our comparison rates table to find the best deals updated in real-time.

How you could be losing out

When transferring money to sons or daughters studying overseas, most parents naturally choose to use their bank. And why not? After all, we trust them with most of our family’s financial transactions. But using banks to transfer cash overseas to cover a student’s tuition fees, help them buy books, or get essential groceries can be a real headache and expensive too.

That’s because:

1.Poor exchange rates and high transfer fees of between £20 and £30 a time can take a hefty slice out of any transfer – a fact made more frustrating because the amounts involved are probably fairly small.
2.Organising transfers online or by phone is a real hassle. And it’s even worse if you transfer through a bank branch, as you have to supply bank details for the student or university you’re paying every single time.
3.Because exchange rates rise and fall the amount the student receives in the UK can change every time, making if difficult to plan ahead.
4.Banks can make the process slow and complicated – which leads to delays and extra stress and frustration.
5.Any delays can mean a student struggles to pay rent, or is unable to complete their course because of non-payment of tuition fees.

How we can help

Using a trusted currency broker, rather than a bank, is a great way to take the pain and expense out of the transfer process. That’s why we’ve hand-picked the very best companies,  to help you save. In fact, if you’re paying tuition direct to a UK university, you can complete the transfer without being charged any fees at all so the cost is zero (0%).

Can your bank match that?

The whole process is simple, secure and an easy way to avoid the bank’s rip-off exchange rates and fees.

Look at our case study to see how you could save:


Case study: How our experts helped Dimitri maximise his money
From an early age, Greek-born Dimitri had dreams of becoming the next Steven Spielberg. And now, to help make those dreams a reality, he’s studying film at London’s University of Arts. It’s a great course, but it’s definitely not cheap. Dimitri’s tuition alone costs £12,000 a year, while he spends over £1000 a month on rent, food, books and the odd visit to the cinema. Dimitri’s parents, Katerina and Yorgos, are happy to fund his course. But they’re bitterly unhappy with the high cost of transferring cash to his UK bank account.

A poor deal

Katerina was shocked to discover that his Greek bank, Emporiki, were charging €30 for each transfer. Meanwhile, the amount that actually arrived in Dimitri’s Nat West bank account was always lower than expected, since the bank converted Euros at a margin of 5% of the total amount – which made for a very poor deal. When Dimitri complained about his situation to a student in a similar position, his friends recommended www.currencytoday.co.uk. After some basic research on our site he was delighted to discover our experts offer an amazing zero fee offer to international students on tuition fee payments direct to the university.

Student savings

This was brilliant news. Dimitri was able to make his parent’s money go further in the UK, receiving an extra £45 in every £1000 he transferred. In an expensive city like London this relatively small amount made a big difference to his modest standard of living. Once set up it was also surprisingly easy for his parents to transfer money to the university or their son direct every time. This is because the couple’s bank details were securely stored online, so transfers were as simple as typing in the amount of Euros they wanted to send, or the pounds they needed to purchase. The rest of the process was then totally stress-free.

Dimitri’s family received reassuring emails at every stage of the transaction and were content with the knowledge their son would receive his money safe and secure within a few days. So now they’ve got cheaper hassle-free transfers sorted, Dimitri is free to focus on his future career, while his parents are happy that their son receives more pounds for their Euros on every transfer. Want to follow our Dimitri’s example?

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