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  There are many financial institutions that will target you either directly or indirectly via adverts to open accounts with them. Well with the credit crunch occurring now. Banks will be obvioulsy not giving as muck to students in terms of easy arrangements for overdrafts etc.

There are many financial institutions that will target you either directly or indirectly via adverts to open accounts with them.

Well with the credit crunch occurring now. Banks will be obvioulsy not giving as muck to students in terms of easy arrangements for overdrafts etc.

If you’re visiting the UK money will be important because the exchange rate means you’ll be spending a lot of it. While twelve of the European Union countries have switched over to the Euro, Britain currently still still does not use the euro.

The Pound is divided into one hundred pence and starting with the smallest, the coins go 1p, 2p, 5p, 10p, 20p, 50p, £1 and £2. The notes are the £5, £10, £20 and £50, the five being the smallest and the fifty the largest in size.

There are four main banks that you’ll see on streets all over Britain, NatWest, Barclays, etc and Lloyd’s and although times vary with location the majority will be open Mon-Fri from around 9.30am-5.00pm and Sat 9.30am-1pm, and the best rate of exchange will probably be from a bank. Banks are closed on all public holidays.

Bureau de Change are at all airports and throughout central London but although they’re convenient because they stay open longer than banks, their rates are not as good. See www.xe.com for global exhange rates.

Credit cards are excepted just about everywhere and cashpoints/ATM’s are attached to most banks and the majority of large supermarkets.

We recommend that you devote at least a day to reading about the best bank to open an account with.
Information about definition of accounts, balance, debit, credit debt, loan, overdrafts are also higlighted. You will not appreciate this until you start getting into difficulty.
See some Frequently Ask Questions(FAQ) we ecommend you should ASK your bank.
Choosing the right bank is a life defining decision, make sure you do your research...........