Currency and Banking

Currency

The pound, £, is the currency used in the UK. One pound (£1) is divided into 100 pence (p). You will find coins with the values of 1p, 2p, 5p, 10p, 20p, 50p, £1 and £2. There are also notes with the values of £5, £10, £20, and £50.

For current exchange rates visit: www.xe.com

Opening a Bank Account

You should open your bank account shortly after you arrive in the University. Ideally, your bank account should be with one of the banks near to the University, eg. Barclays, HSBC, NatWest or Lloyds TSB. Most banks will offer you a current account that includes a cheque book and a cash withdrawal card.  You will only be able to open one student bank account with one bank.

Please take the following with you when you go to open a bank account:

• your passport
• a letter from Durham University
• proof of your address

Your College will produce a letter from the University for you to use when opening a bank account.

International students do not usually qualify for an overdraft, credit card or a loan. 

Please note: The major banks will be present on both campuses on Friday 28th September to offer advice about opening a bank account. Visit Induction and Welcome Events for more details.