According to HSBC's annual Overseas Education 2019 study, 1 in 4 students say they were unaware of what it costs to study overseas. These top 5 finance tips will help them prepare for a worry-free study abroad. As a young adult away from home, money matters can be daunting. With the right planning it need not be.
Checklist for a worry-free study abroad
- Overseas bank account – Best to set this up in your home country, before departure.
- Multi-currency debit and credit card – Handy for cash, every day expenses and unexpected needs.
- Health and life insurance – Complement basic protection cover and note emergency hotlines and nearby clinics and hospitals.
- Housing – Budgets vary if you stay on campus, rent or buy a property nearby; expect miscellaneous expenses.
- Transfers - Set up mobile or online banking so you don't miss an allowance and are ready for emergencies.
Are you prepared?
We've put together international student resources and checklists for 4 countries that are popular with international students. These will give you a better idea of what you'll need to prepare, beyond bank accounts and money transfers, for a study abroad. This includes visa and passport information; healthcare facts; and mobile phone reminders.
How we can help you with our global network
Open an account ahead of time
You can pre-open an account abroad and we can have your ATM card ready ahead of time before the move.
Instant money transfers for free
You can transfer money near real-time at any time and from anywhere with Global Transfer, and manage your worldwide accounts with one single log on with Global View. If you're our Premier customer, the transfers will be free of charge.