FINANCING
 Now the two most important aspect of your education abroad: Tuition fee and living expenses. Whether you are in the undergraduate or graduate program, these two expenses play an important role in your overseas education. However, there is a standing national policy that converting your money to more than 5,000 US dollar must have the approval of the China’s Foreign Exchange Authority. Exchanging your money to more than 5,000 US dollar is a little bit complex. Although the main office of the foreign exchange authority is in Beijing, you can go to the local administration of the foreign exchange. After the securing the approval, they will let you make a wire transaction. But if the school is asking you to send it to a certain address, the bank remittance usually charges 3% which is very high. It is our advice that it is better and safer for you to handle your fees through credit card. There are banks in China, like the Bank of China, Guangdong Development Bank that offer international credit card that are applicable for Chinese student. It is advisable to open a major international credit card with the father holding the main card and the child in the UK will have the deputy. In this way, the parents can monitor the expenses of the student.
Another important point is the British currency where they have the regular bank notes of 100, 20, and 10. 100 pound is uncommon and usually 20 pounds is already considered a big amount. The use of credit card is the most common way of paying their consumptions. You can purchase a can of chocolate using your credit card. The credit card is more convenient. You must also prepare some coins which come handy when you need to use the telephone and other. British are also particular in queuing when paying for something. Chinese should observe these basic social courtesy and must not steal also. We must always keep the Chinese pride even in foreign land. If you are in Rome, do as the Romans do.
British common currency is the pound sterling. Other currencies must be converted into local currency. As part of your preparation, you should learn how to exchange the currency and money to Britain. Editor's Note: According to the Chinese government, it requires that all students who obtain visas can convert their money in accordance with the regulations of foreign exchange. As long as the school has produced proof of tuition and living expenses, equal amount in dollar to its destination, a year's tuition and living expenses and post with the local education authorities in order to prove, then to the State Administration of Foreign Exchange will approve the amount of dollar to be converted. It should be noted that if the destination is the United Kingdom, it should be directly exchanged from renminbi to pounds and may reduce dollar again when the fees required paying losses. ) A number of schools opened a special account to the students; facilitate students to combine the necessary money to the account and can get it upon arrival. bring travelers checks remember to send a check number and copy them and keep separate from the checks. So, even if lost or stolen, you can make up for by the numbers.
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