Money, budgeting, finances and banking.
One of the most important things that you will have to learn about as an international student is British currency. We have compiled information on this pager about British money, budgeting, support available and using banks in the UK.
Opening a bank account and budgeting
Once you have completed in-person enrolment, you will be able to download a bank letter from the “common actions” section of evision.
You can take that, your passport and a share code for your eVisa to a bank to open an account.
We cannot recommend a specific bank – please do your own research on what is available. Save the Student has some good tips about what to consider when opening a UK bank account.
Keele University’s Student Financial Support team have put together some advice on budgeting for you, which we highly recommend you do before or at the start of your time with us!
Blackbullion
As a student budgeting your money is essential, we have teamed up with Blackbullion to to help get you started. You can check out the Budget Calculator on blackbullion.com to help learn more about spending habits and to create a budget based on your needs.
British Currency
Coins
1p-One Pence. The one pence is commonly referred to as a ‘penny’ It has the least value and will not buy you anything on its own.
2p – Two Pence. The two pence can be referred to as a ‘tuppence’.
5p – Five Pence. The five pence piece is silver and is the smallest coin in the British currency.
10p - Ten Pence. This is also silver but much larger than the 5p coin.
20p - Twenty Pence. The twenty pence coin is commonly referred to as ‘Twenty pee’ and is one of the three coins that are not circular in shape.
50p - Fifty Pence. The Fifty pence coin is a 7 sided coin and has many 
different designs. It is half the value of a £1.
£1 - One Pound. The one pound coin is sometimes referred to as a ‘quid’ it is made of two different metals. £1 is enough to buy you a packet of crisps or a drink.
£2 - Two Pounds. The two pound coin is circular in shape and like the one pound 
coin is made of two different metals. £2 will get you a soft drink or a sandwich.
Notes
£5 - Five pounds. The five pound note is often referred to as a ‘fiver’ it is the lowest in value of the notes, and is also the smallest size. It is enough to buy you lunch in some cafes.
£10 - Ten pounds. A ten pound note is commonly known as a ‘tenner’ Ten pounds will buy you lunch in a reasonably priced pub or take away meal.
£20 - Twenty pounds. Twenty Pounds is the second highest value note in the UK and should buy you an evening meal in a reasonably priced restaurant.
£50 - Fifty pounds. Fifty Pounds is the highest value note in England. Some smaller shops may not accept a £50 note if you are buying goods which cost less than this.