Home / New Student Induction /
Jump to menu

Money

This page contains information regarding the following subjects:

Funding

There are various funding options available for undergraduate students, including student loans, bursaries and scholarships. For information about each of these, as well as information on budgeting and handling debt, please refer to the Money page on the Advice and Counselling Service website. Additional guidance can be found on the Fees and funding page.

Postgraduate and research students should refer to the Funding and support web page.

Banking

You will need to open a UK current bank account in order to:

  • deposit any funds received from parents or other sponsor
  • receive Student Finance payments
  • pay accommodation deposit and rental
  • arrange settlement of tuition fees, whether by cheque or by direct debit
  • generally keep control of personal finances.

The banks offer incentives for opening a student account, and also allow different interest-free overdraft levels – it is best to investigate the various offers to find the best deal. You will be very busy during your first few days at College so we strongly advise you to open a bank account before arriving at the College.

You may have, or can open, an account near your home which, when you have a valid Student ID, may be converted to a student account either at your local branch or by transferring to a branch near the College. Alternatively, you can apply to open a bank account by post prior to your coming to the College to enrol. You can also apply for an internet-based bank account, which you can manage online from anywhere.

Branches of Barclays and National Westminster are situated close to the School of Medicine and Dentistry at Whitechapel (ask for the Student Business Adviser).

Barclays Bank plc
240 Whitechapel Road
London
E1 1BJ
Tel: 08457 555 555
www.barclays.co.uk

NatWest
331-335 Whitechapel Road
Albion Yard
E1 1BU
Tel: +44 (0)20 8804 4892
Tel: 0845 6002803

NatWest
130 Whitechapel High Street
London E1 7PS
Tel: 0870 240 1155‎
www.natwest.com/personal/students.ashx

International students are advised to refer to the Advice and Counselling Service's leaflet Banking: a guide for international students, which gives general information about UK banking and lists documents you needed to open an account with a bank in the area around Queen Mary.

Student Oyster card and 16-25 Railcard

Student Oyster card

An 18+ Student Oyster card entitles you to a 30% discount when you buy a weekly or monthly travelcard. In order to apply, you need to be at least 18 years old and meet the eligibility criteria specified by Transport for London (link below).

The 18+ Student Oyster card can be applied for online. There is a charge of £10.00 for each application. The card can be valid for up to three years, though it will be necessary for each applicant to reconfirm their eligibility at the beginning of each academic year.

For further information and to apply online, please visit the TFL website. In order to complete your application online, you will need a passport sized digital photograph of yourself available to upload from your computer and your College ID number, along with credit or debit card details for paying the £10.00 application fee. If you do not have access to the internet online computers equipped with webcams for taking digital photographs are available to use in the Blomeley Centre located in the Student Village, Mile End Campus.

Prospective students can apply online from 1 September onwards but please note that your application will not be validated by Queen Mary, University of London until you are a fully enrolled student. Following validation, applications take around two weeks to complete, after which your card will be sent to the address you have provided. If you have not received your photocard after two weeks, call the TFL helpline or check the status of your application by texting your Application Reference Number - found either on your online application receipt or on the front page of your application form - to 07624 809356 (text messages are charged at your standard network rate).

16-25 Railcard

Anyone between the ages of 16 and 25 is also eligible to apply for the 16-25 Railcard. The card costs £28 for one year or £65 for three years and entitles the holder to a 1/3 off national rail fares. Students who are over 25 but in full-time education may also apply, but will need to have their application verified by their Student Administration office.

You can also get your 16-25 Railcard discount loaded on to your Oyster card to save 34% on Off-Peak journey fare caps.

For more information and details of how to apply, please refer to the 16-25 Railcard website.

NUS card and discounts

You can apply for an NUS (National Union of Students) Extra Card. This costs £11 a year and gives you access to lots of discounts on a wide variety of goods and services such as shops, restaurants, cinemas and travel. For more information and to apply for an NUS Extra Card online, visit the NUS website.

For an additional £1.99, you can upgrade your NUS Extra Card to include an International Students Identity Card, which offers discounts worldwide.

Further information about student discounts can be found in the Advice and Counselling Service's leaflet Managing your budget and cutting costs.

Part-time work

Part-time work can be a useful way to earn extra money and add to your main source of funding. For a full guide to part-time and vacation work, including information about minimum wage, income tax, and the rules for EU and international students, please refer to the Part-time work page on the Advice and Counselling Service website; additional information can be found on the Part Time page on the Careers website.

Bookmark and Share