Register now!
and get in touch with one of our top counselors
Student Banking
Accommodation can be one of the biggest headaches of organising your year abroad. How do you find somewhere affordable – and liveable – in an unfamiliar location? One way to minimize its impact is to find a home away from home.
Housing is an integral part of studying abroad, but in the midst of admission preparations, visa application, and travel plans, it is also the part that some international students tend to postpone until the last minute.
Word to the wise: Plan Ahead.
Can you open a local bank account as an international student?
In most countries, opening a local bank account is totally doable. But, it’s unlikely to be as easy as you want it to be. And, you’ll need to wait until you arrive in your host country before you can open an account.
That does put a little pressure on you for the first couple of weeks. You’ll need to use your international accounts and whatever cash you’ve converted to get yourself set up and pay for entertainment during orientation.
What all you will NEED to open an international bank account :
- Your passport, will relevant student visa
- Proof of residence and residential address
- Some money to deposit (Most banks have minimum amount requirement)
- Proof of enrollment to a college or university
Very few countries require any additional information apart from this, such as proof of bank accounts in the home country. In order to be absolutely sure you can connect with the Study Abroad counsellor any time and get your queries answered.
Why would you want a local bank account as an international student?
There can be plenty of reasons a student would want a local bank account, some are pretty obvious, while others may surprise you.
Save on cash conversions and currency fluctuations – You don’t really want to pay all those bank and conversion fees by using an account from home, do you? Typically, you’ll save when you transfer larger amounts and work within the local currency as much as possible.
Also it is advisable to receive a payment from your home country when your currency fluctuations are favourable to you.
Build a local credit history – If you’re keeping your post-graduation employment options open, you may well find yourself living in your host country longer than expected (or you may already hope for a long stay). Either way, opening a local bank account is the first step towards building your credit in a new country
- +971 558106143
Let's Find Your dream university
The Place You Deserve
Book an appointment with our team & lets start your journey from where you are today , to where you want to be.
