ADMISSIONS

Money and Banking

Cash Banking

Before you travel, it is advisable to set up an International Account with a US bank that offers an international service in Oxford (for example, HSBC). Many UK banks are reluctant to open accounts for overseas students staying less than 6 months and those which do take about 2 weeks to set up a new account, with a further 7+ days for sterling cheques and up to a month for US dollar cheques to clear.

Credit Cards

It is wise to carry a credit card. Remember to tell your card provider that you will be using your card regularly in the U.K. Some American credit cards (Visa, Mastercard, American Express, Plus and Cirrus) are widely used in the U.K., and there are many ATMs in Oxford where you can use them to withdraw cash in pounds sterling.

Travellers' Cheques

Travellers’ Cheques provide a third way of bringing money securely to the U.K. Neither personal nor cashiers’ cheques can be cashed without a bank account in the U.K.

Insurance

All students must be covered by comprehensive medical insurance as a safeguard against the need for medical, hospital or other specialized treatment. Personal possessions should also be properly insured. Check your existing policy to see whether it extends to international coverage.

Spending Money

The cost of living in the UK is higher (c.30%) than in the U.S.A. As all students have very different spending habits, it is not possible to give a precise indication of how much spending money you will need while in Oxford. However, you should probably allow £60 in cash (sterling notes) for the first few days of term, and about £20 per week for personal expenses such as books, stationery, laundry, occasional bus or train fares to London, theatre and concert tickets. It would also be sensible to bring a good supply of personal toiletries with you.