Money, SIM Cards and Bank Accounts: Your First Week Abroad

The first week abroad is easier when your money and phone are sorted before you land. This guide covers the basics for Indian students. Rules and charges change, so confirm details with your bank.

Paying tuition and sending money

• Tuition and living money are normally sent through an authorised bank using the Liberalised Remittance Scheme (LRS) or a loan disbursement.
• Ask your bank about the exchange rate, transfer fees and any tax collected at source (TCS) that applies to your case. The rules have changed in recent years, so ask a bank or CA for the current position.
• Keep the offer letter, fee invoice and loan sanction ready. Banks ask for them.
• Compare the bank's rate with a regulated money transfer provider before large payments.

For loans, see our education loans page and our guide to secured vs unsecured loans.

Carrying money: cards and cash

• A forex card can fix a rate at loading time, which helps with budgeting.
• An international debit card is convenient but check foreign transaction fees.
• Carry a small amount of local cash for the first day and keep an emergency card separate from your wallet.

Opening a bank account abroad

Most banks need your passport, visa, offer or enrolment letter and a local address. Some give you an enrolment letter or student status letter that you can ask your university for. Many countries let you open an account online or on campus in the first week. Ask whether student accounts have lower fees.

SIM, eSIM and your Indian number

• A prepaid local SIM is usually the cheapest option. Buy it at the airport or a store on arrival.
• An eSIM can work from the moment you land if your phone supports it.
• Keep your Indian number active, since banks and apps may send one-time passwords to it.
• Use WhatsApp or similar for calls home.

First-week checklist

1. Activate local SIM or eSIM.
2. Collect your student ID and enrol.
3. Open a bank account.
4. Set up transport pass.
5. Register for health cover if needed.

Our pre-departure support goes through this with you before you fly.