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Top 5 finance tips for students studying abroad

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

  1. Overseas bank account – Best to set this up in your home country, before departure.

  2. Multi-currency debit and credit card – Handy for cash, every day expenses and unexpected needs.

  3. Health and life insurance – Complement basic protection cover and note emergency hotlines and nearby clinics and hospitals.

  4. Housing – Budgets vary if you stay on campus, rent or buy a property nearby; expect miscellaneous expenses.

  5. 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.

Learn more about our international services for students.

Disclaimer

HSBC Holdings plc has prepared this article based on publicly available information at the time of preparation from sources it believes to be reliable but it has not independently verified such information. HSBC Holdings plc and the HSBC Group (together, "HSBC") are not responsible for any loss, damage, liabilities or other consequences of any kind that you may incur or suffer as a result of, arising from or relating to your use of or reliance on this article. The contents of this article are subject to change without notice. HSBC gives no guarantee, representation or warranty as to the accuracy, timeliness or completeness of this article.

 

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