Heading to study in the US or UK is exciting, new friends, new places, new experiences. But handling money abroad can be stressful, as traditional banks are often slow, costly, and complicated. Many international students now choose bank alternatives that make receiving money from home, paying tuition, and managing daily expenses simple and flexible. With the right option, you can focus on your studies and enjoy your new adventure without worrying about your finances.
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1. High transaction fees
Sending money from home through traditional banks can cost a lot. Imagine losing $20 each time your parents send $200; that’s money you could use for groceries or books.
2. Unfavourable exchange rates
Ever noticed how you get less than expected when converting your home currency to dollars or pounds? Banks often add hidden markups, so your tuition or allowance shrinks instantly.
3. Slow transactions
Waiting three to five days for funds can be stressful, especially when rent is due tomorrow. Many students have faced awkward moments explaining delays to landlords or universities.
4. Limited access
Some platforms just don’t support your currency. For example, a friend in Nigeria might struggle sending pounds directly, forcing you into complicated, costly workarounds that waste time and money.
Read also: Affordable UK universities with the lowest tuition fees for international students
Grey is perfect for students receiving money from home. You can hold multiple currencies, pay tuition, and manage daily expenses all from your phone. It’s secure, fast, and designed for life abroad, so you can focus on classes and exploring your new city without financial stress.
Wise makes sending and receiving money across borders simple and affordable. It shows real exchange rates with low fees, so your allowance or tuition money goes further. Students love it for its transparency and speed — it’s like having a mini-bank in your pocket.
Revolut is great for students who travel often or manage multiple currencies. You can spend, save, and even invest from one app. It’s flexible, fast, and perfect for paying bills or splitting rent with roommates abroad.
Monzo combines a bank account with a super-smart app. It’s easy to track spending, set budgets, and receive money from home. For students in the UK, it’s especially helpful for day-to-day expenses and avoiding surprise charges.
N26 is a digital-first bank popular with students in Europe and the US. It offers free international transfers, no hidden fees, and instant notifications. Managing money, paying rent, or sending funds home becomes straightforward and stress-free.
Managing money abroad can be tricky, but Grey makes it simple and secure for students in the UK and US:
With Grey, you can hold multiple currencies, make fast transfers, pay tuition easily, and keep your funds completely secure. It’s a simple way to manage your finances so you can focus on your studies, friends, and experiences without worry.
Sign up for Grey today or download the app to manage your funds safely.
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