Transferring and Travelling with Money

If you are travelling from outside the EU you will need to declare any sums of money of 10,000 Euros (approx £8,000) or more to HM customs upon arrival. If your country restricts the amount of money you can bring out, then you will need to begin the arrangements for transferring money several months before your course begins.

British banks will usually make a handling charge (allow up to £20.00) for receiving incoming money from overseas, so the amount you receive may not be the same as the amount that was sent.

Please remember that it may take up to four weeks before you can fully use your UK bank account, so it's best to ensure that you have enough money for your personal needs for the first few weeks of term.

We advise that you do not carry large amounts of money with you. Please speak to welfare.io@coventry.ac.uk if you have any concerns about this.

You will need to open a bank account in the UK to keep your money safe. You can use the bank account to pay for things using a debit card, pay your bills, and take cash out from a cash point (ATM).

There are many banks in the UK offering varying products and services. It is a good idea to do some research to find the right bank for you before you arrive in the UK. UK law requires banks to make checks on customers opening accounts to prevent fraud. In the case of international students, banks will require proof of identity, usually in the form of a signed passport, together with proof of your address in your home country and your address in the UK.

It can take a few weeks to open an account, so you should be prepared to bring travellers cheques/credit card/cash card with you to pay for things during this period. Do not bring a large amount of cash with you or keep cash in your room for security reasons. You should also be aware that most banks charge a monthly bank account fee for International Student Accounts.

Although Coventry University does not recommend any particular bank, a list of some popular banks in Coventry city centre is below.

Bank name Contact details
Natwest 24 Broadgate, Coventry, CV1 1NE, Tel: 0345 788 8444
Nationwide 62-64 Broadgate, Coventry, CV1 1NF, Tel: 0800 554 0531
Lloyds Bank 30 High Street, Coventry, CV1 5RE, Tel: 0345 300 0000
TSB 15 High Street, Coventry, CV1 5RD, Tel: 024 7625 7439
Barclays Bank PLC 25 High Street, Coventry, CV1 5QZ, Tel: 0345 734 5345
HSBC 5-6 High Street, Coventry, CV1 5RE, Tel: 0345 740 4404

If you require any assistance with opening your bank account, please contact the International Student Support team via email at welfare.io@coventry.ac.uk or call +44 (0) 24 7765 2010.

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