Janice Lozano
Barclays offers a Student Additions Account for international students, which comes with no account opening or maintenance fees. However, there are some fees associated with this account, such as a £6 fee for receiving payments over £100 in non-euro currencies, and a 2.99% non-sterling charge for overseas card usage. To be eligible for this account, students must be 18 or over, studying full-time in the UK, and have lived in the UK for at least three years.
| Characteristics | Values |
|---|---|
| Account opening fee | No fee |
| Maintenance fee | No fee |
| Arranged overdraft fee | No fee |
| Arranged overdraft limit | Up to £500 from account opening and during the first term |
| Arranged overdraft limit in the third year of study | Up to £1,500 |
| Sending money in euros | No fee |
| Receiving money under £100 in non-euro currencies | No fee |
| Receiving money over £100 in non-euro currencies | £6 fee |
| Sending money in non-euro currencies | May incur fees |
| International transfer fees | Low |
| Non-sterling charge | 2.99% |
| Currency conversion fee | 2.99% |
| Eligibility | 18+, studying full-time in the UK, lived in the UK for 3+ years, have a UK mobile number |
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What You'll Learn
International student eligibility requirements
International students can open a Barclays student account, but there are specific eligibility requirements that must be met. If you are an international student and have lived in the UK for three years or more, you can open a Barclays Student Additions Account. If you have lived in the UK for less than three years, you may only qualify for a standard Barclays Bank Account.
The eligibility criteria for the Student Additions Account are as follows:
- Age: You must be 18 years or older.
- Residency: You must have lived in the UK for at least three years.
- Study status: You must be enrolled full-time in one of the following: an undergraduate degree (minimum two years), a postgraduate degree (minimum one year), or a higher apprenticeship (Level 4 or above).
- Account usage: The account must be used as your primary current account.
- Documentation: You must provide a UK mobile number, proof of identity (e.g., passport or biometric residence permit), proof of address, and proof of student status (e.g., UCAS letter or student ID).
To apply for the Barclays Student Additions Account, you can download the Barclays app and verify your identity with a photo ID and video. You will also need to provide course details and a UCAS code, consent to a credit check, and submit your address history.
It is important to note that Barclays does not offer specific education loans to Study Abroad or for UK students pursuing education overseas. Additionally, there is a low fee of £6 for receiving payments over £100 in non-euro currencies.
If you are an international student at Barclay College in Kansas, there are different requirements. Before being sent the link to the International Student Application, you must complete the following steps: send an introductory email to the Director of Admissions explaining your educational background, academic goals, and financial resources; complete the International Student Declaration of Finance and Foreign Student Certification of Finance forms; request official transcripts from all schools you have attended; and request a copy of your TOEFL iBT (minimum score of 80) or IELTS (minimum Band Score of 6.5) scores. There is also a non-refundable $75 application fee.
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International transfer fees
International students can open a Barclays current account, which is one of the best UK bank accounts for international students. However, international students who have not lived in the UK for at least three years may only qualify for a standard Barclays Bank Account.
The Barclays Student Additions Account is a robust option for international students studying in the UK, offering an interest-free overdraft, a free Perlego subscription, and powerful budgeting tools via the Barclays app. It is perfect for students seeking low-cost banking, competitive international transfer fees, and digital convenience.
The account offers free euro transfers, but other currencies may incur fees. There is no upfront fee for sending many payments online, but there are likely to be exchange rate markups and third-party fees that increase the overall costs. There is also a £6 fee for receiving over £100 in non-euro currencies.
International students can also consider the Wise account, which allows users to send and manage money in over 40 currencies and spend with the Wise debit card in 174 countries worldwide. All foreign currency conversions are made using the fair mid-market exchange rate, which could save users money.
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Overdraft fees
Barclays offers an interest-free overdraft facility for students, which can be a financial safety net during and after their studies. The interest-free overdraft limit is up to £500 in the first term, up to £1,000 in the first year, and up to £1,500 in the second year and beyond.
An arranged overdraft is a pre-agreed limit that allows account holders to spend more money than they have in their current account. Barclays charges for every day of the month that the arranged overdraft is used beyond any interest-free limit. Arranged overdrafts are subject to application, financial circumstances, borrowing history, and lending criteria.
Barclays does not charge any interest on any amounts that take the account holder into an unarranged overdraft. However, going over the arranged overdraft limit may negatively impact the credit score, making it harder to get credit in the future.
International students who have lived in the UK for less than three years may not qualify for a Barclays Student Additions Account. However, they may still be eligible for a standard Barclays Bank Account, which offers mobile banking and overdraft options subject to eligibility.
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Account opening and maintenance fees
Barclays does not charge any fees for opening and maintaining a student account. However, international students who have not lived in the UK for at least three years may only qualify for a standard Barclays Bank Account, which is subject to certain fees.
International Transaction Fees
A £6 fee applies for receiving payments over £100 in non-euro currencies. Sending money in euros is free, but other currencies may incur fees. When using your card overseas, you will pay a non-sterling charge of 2.99%. For example, if you spend the local equivalent of £250, you will be charged £7.48. There is also a currency conversion fee of 2.99%. For example, withdrawing the equivalent of £150 will cost you a fee of £4.49.
Overdraft Fees
The student account comes with an interest-free overdraft, which acts as a financial safety net for unexpected expenses. The overdraft limit for the first term is up to £500 interest-free. After your studies, your student account will be automatically upgraded to a Higher Education Account.
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Foreign currency conversion fees
Barclays allows international money transfers using online banking services, through a mobile application, over the telephone, or by visiting a Barclays branch. The bank can send money to over 200 countries in more than 50 foreign currencies.
For international students, understanding transfer fees is critical. The Student Additions Account offers competitive pricing, such as free euro transfers, while transfers in other currencies may incur fees. Sending payments under £100 in non-euro currencies is free, but a £6 fee applies for receiving over £100 in non-euro currencies.
Barclays typically charges a foreign transaction fee of 2.99% of the total transaction amount when making a purchase abroad. Withdrawing cash using a Barclays debit card will incur a 2.75% fee on the total amount withdrawn, plus a £1.50 non-sterling transaction fee. Withdrawing cash using a Barclays credit card will incur a 2.99% fee on the total amount withdrawn, and you will likely be charged interest straightaway and may have an additional cash handling fee.
If you pay with your Barclaycard, you may be charged a Cash Fee, so be sure to check your terms and conditions. The 2.99% transaction fee may not apply if you have a Barclaycard Platinum Travel, Barclaycard Platinum Cashback Plus, or Barclaycard Rewards credit card.
When spending money abroad, you may be asked whether you'd like to use your card's currency or the local currency. If you pay in your home currency, you will likely be charged a dynamic currency conversion (DCC), which is often a very poor rate.
Barclays also offers a travel wallet feature, which lets you buy foreign currency to spend on your debit card, so you don't have to carry cash.
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Frequently asked questions
Barclays does not charge any monthly account maintenance fees for its International Student Account. However, there is a £6 fee for receiving over £100 in non-euro currencies. Additionally, a 2.99% non-sterling charge is applied when using the card overseas.
To open a Barclays International Student Account, you must be 18 or older, studying full-time in the UK, and have lived in the UK for at least three years. You will also need a UK biometric residence permit and a UK mobile number.
The Barclays International Student Account offers several benefits, including an interest-free overdraft of up to £500 in the first term, budgeting tools via the Barclays app, and competitive international transfer fees.
You can apply for the Barclays International Student Account by downloading the Barclays app, verifying your identity with a photo ID and video, providing course details and UCAS code, consenting to a credit check, and submitting your address history.
