International student money guide
Lesson 10 of 12 in our free Life Events guide: a 5-minute money game with the key points below.
This lesson is in the full version.
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Questions you'll answer
Mo's flatmate sends £500 home. Option A: £5 fee, but a rate 3% worse than the mid-market rate. Option B: £12 fee, rate 0.5% worse. Roughly how much more does Option A cost in total? (Hint: 3% of £500 vs 0.5% of £500, plus the fees.)
A stranger online offers an international student £300 to 'receive a payment' into their UK account and forward it. What is this?
Quick facts
- Fact: “Degree-level Student visa holders can usually work up to 20 hours a week during term time.” — Check your own visa — limits depend on your course level. Breaking them can put your visa at risk.
- Fact: “'No recourse to public funds' (NRPF) means you can't claim most benefits like Universal Credit.” — Claiming public funds you're not entitled to can affect your immigration status. Your uni's hardship fund is a different thing and may still help.
- Fact: “You need to show you have enough money for living costs when you apply for the visa.” — UKVI sets a required amount, which usually must be held for 28 days in a row. Check the current figures on GOV.UK.
- Myth: “Sending money home always costs the same whichever way you do it.” — Fees AND exchange rate mark-ups vary a lot. Compare the total amount that actually arrives.
- Red flag: “this is the Home Office.” — Anyone can say they're the Home Office. It doesn't phone to demand fines: hang up and check through official channels.
- Red flag: “There's a problem with your visa and you'll be deported tonight” — Threats of instant deportation are a scare tactic. Real immigration issues come in writing.
- Red flag: “unless you pay a £900 fine now.” — Government departments don't demand on-the-spot fines over the phone.
- Red flag: “Don't hang up or tell your university.” — Isolating you from people who can check is a classic scam move.
- Red flag: “Pay by bank transfer or cryptocurrency.” — Demanding a bank transfer or crypto (hard or impossible to get back) is Ronnie's calling card. Government fines aren't paid like this.