Money and banking
Guidance on money and banking in Oxford.
Opening a bank account
The University has a special agreement with Barclays to help new staff obtain a bank account if they are unable to show evidence of UK address upon arrival. Once you have an offer,or are an employee, ask your Departmental Administrator to prepare a letter to the Treasury Department as per the Bank Accounts for Overseas Employees guidance. If you have an employment contract with a college only, please ask if your college has a similar process.
If you move from overseas, it can take up to two weeks to receive a debit card which can be used to withdraw money from local cash machines. Your home country bank may be able to advise you on how to transfer funds to the UK if you have not yet opened a UK bank account. There are also many specialist companies that provide money transfer services, such as Western Union.
Currency exchange
If you are arriving in the UK from overseas, it's useful to have some local currency (Great British Pounds or GBP) for situations where card payments are not accepted. You can exchange currency at: the John Lewis bureau de change in Westgate shopping centre, Currency Exchange on Cornmarket and the Post Office’s St. Aldate’s and Woodstock Road branches. Traveller’s cheques are another option, as they can be purchased in your home country and exchanged for local currency. You can use them in banks, Post Offices, bureaux de change and some shops, hotels and restaurants.
Most shops in the UK accept credit cards from other countries. Check the terms and conditions outlined in your credit card agreement to find out if you will be charged for using your card abroad.