Money and Finance
It is important that you understand exactly what your award consists of, what entitlements you can expect, how it will be paid to you. This section outlines what the best procedures are once in UK to ensure that you receive what is due to you as soon as possible.
Question
Will I receive any money before I leave?
Answer
It is no longer possible to make payment to scholars before they leave for the UK.However, payments can be made immediately upon arrival in the UK. This advance or First Arrival Payment (FAP) will be deducted from the first payment made to your first payment of allowances, so you should budget accordingly.
Question
Where and when will I be paid?
Answer
Payment can be made on arrival in a UK airport via a Travelex office or at the local Thomas Cook office in the town where you are staying. Most advances are now paid at the airport on arrival.
Your pre-departure letter will give you this information. It may be that in some cases an advance payment is not required, as you may have sufficient personal funds to cover your initial expenses. In such cases your first payment will be through your UK bank account after you arrive in the UK.
Question
How much will my advance payment be?
Answer
This will depend on the scheme and on the length of your studies, but is usually £800 or a £1,000. You may receive your complete entitlement in one payment if you are going to the UK for a short visit and have insufficient time to set up a UK bank account. Your pre-departure letter will give you this information.
The advance payment is increasingly also being used to cover large accommodation deposits. If you are liable to pay an accommodation deposit on arrival please organise an appropriate advance to be paid through your Chevening administrator.
Question
What am I expected to be able to do with this money?
Answer
It is meant to help you cover any initial expenses that occur before you have opened a bank account. As soon as you have opened a bank account we will transfer the following to your account, provided you are entitled to them under the terms of your award: Arrival Allowance and Stipend to date. It also can be used to pay scholars when they are required to pay large accommodation deposits and payments for for a whole term’s accommodation.
Question
Should I take any money with me?
Answer
We suggest that you take some personal cash with you to cover emergencies, provided currency restrictions permit.
Question
How much money should I take?
Answer
We suggest that you take at least £200 in small denomination banknotes to cover any emergency needs on arrival. You may also wish to take some funds to supplement your allowances during your stay. Credit cards are widely accepted throughout the UK and provide a useful source of emergency cash. It is important to factor in you travel from the airport to your institution when you are looking at how much cash you will need.
Question
How will my stipend and entitlements be paid to me?
Answer
If your award is for a minimum of six months we will pay your stipend and allowances into a bank of your choice. First of all you need to supply The British Council with your bank details and then all future payments will be made automatically into the account that you have chosen.
Question
How do I open a bank account?
Answer
It is important to open an account as soon as possible, as it may take up to three weeks before your account becomes active. You will also receive information about any banks in your home country which have arrangements with British banks. It might be possible to open an account in the UK through this local bank before you leave home.
When you open your account you will be asked for your passport and your letter of acceptance from your place of study. You may also be asked for proof of your address in your home country. All of these documents should be originals. Give your introduction letter and bank form to the person who is opening your account at your chosen bank. The form is very important please make sure that you sign and date it before handing it to the bank. If you need some assistance or further information about bank accounts please check the information on your USB flash drive. If there you need further advice please ontact you Chevening administrator in the UK.
For further information view: www.ukcisa.org.uk/pages/advice There are some specific options for British Council managed scholars:Barclays: please see the document entitled Banking with Barclays included on the USB stick for information about how to open a Barclays Wealth bank account before you depart for the UK.
HSBC: scholars studying in London may wish to take advantage of the British Council’s arrangement with HSBC. Information about this will be sent separately to award-holders who will be based in London.
Question
Why don't you open an account for me?
Answer
To give you a better choice once you arrive in the UK. There are many large banks in the UK and each institution has different branches on their campus or nearby. It is a good idea to choose a bank that is near to your place of study or where you live to make managing your money easier.
Question
I want to buy a lap-top computer to take back home with me at the end of my scholarship. I have been told that I can claim back the VAT (Value Added Tax). If this is correct, how do I go about it?
Answer
If you purchase goods at shops participating in the Retail Export Scheme, you may apply for a refund of VAT if you are leaving Britain for a final destination outside the European Union.
You must have bought the goods within three months of the date of departure. You must check before you make your purchase whether or not a refund will be available. At the time of the purchase, show the retailer your passport to establish your eligibility for the refund scheme. They might ask to see your ticket proving you are leaving the country.
Both you and the retailer need to fill in the refund document provided by the retailer (form VAT 407 or a refund company voucher). When you finally leave UK, the VAT form or refund voucher must be presented with the goods for certification by HM Customs and Excise.
Forms cannot be certified after departure from the UK. You should send the certified form to the retailer or funding company and the claim will be processed and a refund cheque (in sterling) will be sent to you. Remember, this scheme is entirely independent of any import duty or tax which you might have to pay on the item(s) when you return to your own country so it is wise to check with your own Embassy what the regulations are back home.
