Money Issues
 
   

Currency

Lets see.... Where to start?. The currency in the UK is still the Pound Sterling (£) versus all other EU countries which are now Euro. One pound is currently equal to about 2 dollars. Bills are in £1, £5, £10, and £20 notes and coins (pence) are 1p, 2p, 5p, 10p, 20p, 50p, £1, and £2. Each part of the UK has different looking notes and sometimes stores in England won't take Scottish notes. Even a few of the private banks have their own bills in general circulation; i.e. Clydesdale bank.

What do things cost?

 
2 bedroom Flat £200-300/month/per person  
TV license £150/year  
Gap Jeans £40  
Uni Sweatshirt £20  
Underground day pass £1.70  
Day bus ticket £2.25  
Coca-Cola 65p  
Dinner out £8-15  
Apples 69p/lbs  
Milk 39p/pint  
Chicken breast £4.00/lbs  
DVD rental £3.00  
New CD/DVD £12-15  

Earning money is a bit difficult, as it can be hard to beat out UK residents for job openings. However, if you are willing to work at a grocery store or at a bar and have the experience, it is possible. There are also several temp agencies that will offer short term placements. The minimum wage in the UK depends on your age. Twenty-five and older is around £4.90/hour. It is also possible to earn money during the term breaks working on farms. An experienced lamber (you will be experienced after your first lambing season) can expect up to £400/week with room and board included. Even your first year it is often possible to earn several hundred pounds.

 

Banks

The big three Scottish banks
Royal Bank of Scotland

Bank of Scotland
Clydesdale Bank

UK banks
Alliance Leiscter

Halifax
Natwest

You cannot open an account before you have a UK address. When you arrive you will need proof of your address (letter from the uni or gas/electric bill), your passport, etc to open an account. Simply show up at a branch and ask to open an account - you may have to make an appointment. Some banks like Clydesdale Bank will willingly give you a credit card linked to your account.