Best way to get money while studying abroad?

Question

I am planning to study abroad in England next semester, and I was wondering if anyone could tell me what method you would recommend in terms of money. Should I open up a credit card account or just rely on traveler's checks? Any other ways?

Answer 1

Open up a CC at home. in England they take american credit cards

Answer 2

It depends, if your parents will be providing money for you over the course of the year, it's best to use an American credit card or debit card (Visa or Mastercard -- NOT American Express) that they can access and you can view on line.

If you have one lump sum, consider a pre-paid Visa or Mastercard. Your bank probably has one. Actually, your parents could also add money to this as well.

We've been hosting exchange students for 13 years and they've always come with a credit card from their home country. When we travel overseas, we put our funds on a pre-paid card and none of us have EVER had trouble!

I do recommend that you write your card number and pin number down someplace and leave it with your parents so that if you forget it, you can call!

Answer 3

I would open up a U.K. bank account with any local bank such as Halifax, HSBC, Barclays etc.

This will be much easier for a number of reasons but the the two main ones are; it will elimate the risk of your U.S. bank card being declined and canceled by the your U.S. bank and more importantly, it will not cost you anything in fees to withdraw money or to use it in a credit transaction. It will also be much easier for you to manage you account, since it will be based in the United Kingdom, instead of long and expensive international call rates.