Hey guys,

Preparing for my move to the UK and the start of the PhD and have some questions:

1. As many others I'm funded by a research council. This years rate is some 15000 GBP. Does that mean I will get a twelfth of that onto my bank account or all of it or less than a twelfth, but a higher paycheck for holidays and christmas?

2. Looking into bank accounts atm. Seems like the system is a bit more complicating than in my home country. Would any of you guys here (or somebody in the same situation as me, but who has read more than me) be able to recommend a bank and a account?

Thanks guys ,)

Hey Podge- I get my stipend every 3 months, so basically I get a quarter of the full amount per year at a time, 4 times per year. I think this is the norm for most funding councils, but others will be able to comment too. I'm from the UK, so can't comment on changing bank accounts from a different country, but I have banked with NatWest since I was 12, and had no problems with them. However, you may want to look around as different banks may have different deals for students in terms of interest-free overdrafts etc. Others will probably be able to give you more specific advice than myself! Best of luck with the move, KB

Hello, I'm also just about to start and have research council funding (Although I'm pretty sure it's £13,560 per annum for everyone with research council funding unless you're in London?).  It seems to depend on how your university decide to pay you, it's usually quarterly (every 3 months) or monthly and it will be an equal amount they will give you for each payment. The University should have sent you a letter by now explaining when they will pay you, if not ring the secretaries up and ask.

Bank accounts is another matter, I think Banks are all pretty much the same, I have a Lloyds account and have never had any problems but I think the banks are all pretty equal so just go with whoever offer you a good deal when you get to the UK. you can always change if you don't like them.

As for the account I think just a standard Current Account is what you will need, that is the type of account that your money will be paid into and you can take money out of easily.  You can also open a savings account which will have more interest (not very much more in this financial climate!) but they are usually slightly harder to take money out of, and you don't necessarily need one unless you really need to save (I guess it would be good for saving for flights back home though?). I hope that makes some sense at least!

Caro

======= Date Modified 06 Sep 2011 16:52:03 =======
I get paid monthly, though perhaps cos my funding comes via a programme grant. Same amount each time but the date seems to drift around a bit which is annoying!

Unless you need to set up a bank account before you arrive, the best thing to do might be to wait until you get here and you will probably find a lot of advice from your uni's student union aimed at new and/or international students. 'Freshers fair' might be a place where this information is available. You will probably need multiple bits of ID and proof of address/student status to set up an account

======= Date Modified 06 Sep 2011 20:57:30 =======
Hey guys,

thank you for your input!
Yes, I'll be in London that's why it's the 15k.
At the moment I have to enrol online and there they asked for payment details, too. So I'll know how to sort that out. Just need an account now.

Also find it interesting that people are payed so differently. How is it having the money for 3 months already? I guess it is easy spending too much in the first month already ending up with barely enough before the next payment?

In a previous role I was paid three-monthly. It can be hard to budget that way. Something that might be worth considering is setting up two bank accounts and setting up a standing order to sort of 'pay yourself' a monthly amount into the account you will use regularly.

======= Date Modified 06 Sep 2011 23:53:26 =======
Getting paid every 3 months is a bit of a pain but I seem to get through it by being fairly strict on my spending on non essentials (i.e. clothes, dvds, books etc) for the first 2 months and then having a little splurge just before the next pay day.

With regards to finding a bank I'm a UK national so don't really know how things work when you're an international student. I have a student account with HSBC and they let me have a generous interest free overdraft (very helpful sometimes!) and I haven't had any problems with them.

I agree with the previous post about asking around at freshers fair/student union as these people should be able to help you.

We have some information on FindAPhD on opening a UK bank account, as well as other guidance on living and studying for a PhD in the UK.

Oh great. Thanks for your replies!!!

One can actually apply for an account online. Will see if I'm eligible for that.

Podge