If you are planning to study abroad, one of the core things you will have to manage as an international student is your finances. Many students choose to manage their finances via a Barclays International student account. The reason why students choose to do so is that the Barclays bank account offers an interest-free overdraft facility. This facility allows students to have financial breathing space during and after their studies. And if you are also interested in opening a Barclays International Student Account, continue to read this blog.
Table of contents
- Why Choose a Barclays International Student Account?
- Benefits of Barclays International Student Account
- Eligibility Criteria for Barclays Student Additions Account
- How to Apply for a Barclays International Student Account
- Features of Barclays Student Additions Account
- International Transfer Fees and Considerations
- FAQs
Why Choose a Barclays International Student Account?
The Barclays Student Additions Account is a premier banking option for international students study in UK, offering tailored features to simplify financial management. This Barclays international student account provides financial flexibility for international students navigating tuition fees, living expenses, and international transfers.
The Student Additions Account offers key benefits like an interest-free overdraft, budgeting tools via the Barclays app, and a free 12-month Perlego subscription. Perfect for students seeking low-cost banking, competitive international transfer fees, and digital convenience, this account supports your academic journey.
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Below, we dive into the key benefits, eligibility requirements, and steps to open an account.
Benefits of Barclays International Student Account
The Barclays student account offers several advantages designed to support students during their studies. The following are the benefits of a Barclays International Student Account:
Interest-Free Overdraft Facility
Barclays international student account provides students an interest-free arranged overdraft, which acts as a financial safety net for unexpected expenses. The overdraft limits are:
- First term: Up to GBP 500 interest-free.
- First year (after first term): Up to GBP 1,000 interest-free.
- Second year and beyond: Up to GBP 1,500 interest-free.
Note: Overdraft availability depends on your financial circumstances, borrowing history, and Barclays’ lending criteria. The previously mentioned GBP 5,000 overdraft in the original blog appears inaccurate based on current data. Always confirm your eligibility, as limits may be lower than the maximum.
Free 12-Month Perlego Subscription
New account holders receive a complimentary 12-month subscription to Perlego, an online library with access to thousands of academic e-books and resources. This perk can save students significant costs on textbooks, enhancing affordability during their studies.
You can Track your Spending with Barclays App
As you open a Barclays international student account, you can download their app through which students can manage their finances effectively. Key features include:
- Mobile payments: Make contactless payments via smartphones or smartwatches.
- Spending tracking: Monitor and categorize expenditures to stay within budget.
- Spending limits: Set personalized limits to control overspending.
- Temporary card freeze: Freeze your debit card instantly if misplaced, adding security.
Free Subscription to Perlego for a year
As you open a Barclays international student account, you can avail of the free 12-months subscription to Perlego. This allows students online access to thousands of academic e-books. This will save students the cost of buying each book individually and save money on books.
Low-Cost International Transfers
For international students, managing cross-border payments is crucial. The Barclays Student Additions Account offers:
- Free transfers: No fees for sending money abroad in euros or receiving payments under GBP 100 in other currencies.
- Low fees: A GBP 6 fee applies for receiving payments over GBP 100 in non-euro currencies.
These competitive rates make Barclays a strong choice for students handling international transactions.
Please note: Barclays does not currently offer specific education loans to Study Abroad or for UK students pursuing education overseas
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Eligibility Criteria for Barclays Student Additions Account
To open a Barclays Student Additions Account or Barclays international student account, international students must meet specific requirements. Note that international students who have not lived in the UK for at least three years may only qualify for a standard Barclays Bank Account instead. Here are the eligibility criteria for the Student Additions Account:
- Age: Must be 18 years or older.
- Residency: Must have lived in the UK for at least three years (for the Student Additions Account).
- Study status: Must be enrolled full-time in one of the following:
- Undergraduate degree (minimum two years).
- Postgraduate degree (minimum one year).
- Higher apprenticeship (Level 4 or above).
- Account usage: The account must be used as your primary current account.
- Documentation: 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).
How to Apply for a Barclays International Student Account
Opening a Barclays Student Additions Account is straightforward and app-based, ensuring a seamless process for students. The following are the steps to open this Barclays International Student Account:
- Download the Barclays App: Available on the UK App Store or Google Play Store. Create a secure passcode to access the app.
- Verify Your Identity: Upload a photo of a valid ID (e.g., passport, UK/EU/EEA driving license, or biometric residence permit) and record a short video for verification.
- Provide Student Details: Submit your course details and UCAS status code to confirm your student status.
- Complete a Credit Check: Consent to a credit check, which Barclays uses to assess overdraft eligibility.
- Submit Address History: Provide three years of address history (if applicable for the Student Additions Account).
- Activate Your Account: Once approved, you’ll receive a contactless debit card and access to mobile banking.
Features of Barclays Student Additions Account
Beyond the benefits, the Barclays Student Additions Account offers practical features to enhance your banking experience. Here are the following are the features of using this Barclays international student account services:
- Real-Time Transaction Tracking: Monitor payments and expenditures instantly via the app.
- Secure Digital Access: Control your account and debit card through mobile or online banking.
- Contactless Payments: Pay easily with your debit card, smartphone, or smartwatch.
- Fast Transfers: Send money using just a mobile number without sharing bank details, ideal for splitting bills.
These features make day-to-day banking convenient and secure, especially for students managing busy schedules.
International Transfer Fees and Considerations
For international students, understanding transfer fees is critical. The Barclays Student Additions Account offers competitive pricing:
- Sending money: Free for euro transfers; other currencies may incur fees (contact Barclays for details).
- Receiving money: Free for amounts under GBP 100; GBP 6 for amounts over GBP 100 in non-euro currencies.
Also read: Top Indian Banks Providing Education Loans to Study in UK
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. While the residency requirement (three years in the UK) may limit access for some, the standard Barclays international student account remains a viable alternative with competitive transfer fees and mobile banking.
FAQs
Ans. The following are the benefits of opening a Barclays International Student Account:
– Interest-Free Overdraft Facility (up to GBP 1,500 in year two and beyond)
– A free 12-month Perlego subscription
– You can Track your Spending with Barclays App
– Low-cost international transfers.
Ans. The following are the steps to open a Barclays International Student Account:
– If you are new to Barclays, you will need to download the app first and create a passcode to access the app safely
– Take a picture of your identity documents such as a passport or driving license
– You will be required to record a video of yourself for identity verification
– You will also be required to provide the details of your course and your UCAS status code
– You will also have to provide your consent to a credit check
The following are the features of using Barclays account services:
– You can keep track of your money and check all your payments and expenditures
– You are in control and can access your account and debit card through the app
– Make easy payments through your mobile phones, and smartwatches. You can send and receive money using your mobile number and without sharing your bank details
You must be 18+, studying full-time in the UK (undergraduate, postgraduate, or higher apprenticeship), have lived in the UK for three years, and use the account as your primary account.
To apply for the Barclays Student Additions Account, download the Barclays app, verify your identity with a photo ID and video, provide course details and UCAS code, consent to a credit check, and submit address history (if applicable).
Sending euros is free, and receiving payments under GBP 100 is free. A GBP 6 fee applies for receiving over GBP 100 in non-euro currencies.
Yes, but those with less than three years of UK residency may only qualify for a standard Barclays Bank Account, which still offers mobile banking and overdraft options (subject to eligibility).
This was all about the benefits of a Barclays International Student Account. If you wish to know more about international transfer and education loans, check out Fly Finance. If you wish to study abroad in the UK, USA, or anywhere in the world, connect with our experts at 1800 57 2000 and book your 30-minute free counselling session.
