Studying Abroad? Here’s How to Send Money Safely and Get More for Your GBP

Who Should Read This?

• UK parents supporting children studying overseas
• Students heading abroad for university or exchange programmes
• Anyone regularly transferring GBP to pay for tuition, rent, or living costs

Why It’s Worth Reading

• International transfers via banks can be expensive and slow
• Exchange rate fluctuations can eat into your education budget
• This guide offers safe, efficient, and cost-effective ways to manage student finance abroad

What You’ll Learn

• The best way to send money overseas for tuition and living expenses
• How to avoid hidden bank fees and poor exchange rates
• Why timing matters when exchanging GBP for other currencies
• How Indigo FX helps families protect value and reduce transfer stress

Heading Abroad for University? Time to Think Smart About Currency Transfers

Each year, thousands of UK students leave home to study in countries like the USA, Canada, Australia, Germany, and beyond. Whether it’s tuition, accommodation, or daily living costs, international study can be a life-changing experience, but it also comes with a fair amount of financial admin.

If you or your family are sending money from the UK to cover expenses, how you manage those transfers matters. Choosing the right method (and timing) for sending GBP abroad can save you hundreds – sometimes thousands – of pounds per year.
That’s where Indigo FX can help.

The Problem With Relying on Traditional Banks

While it may feel convenient to use a high street bank for overseas payments, that decision could cost you more than you realise. Here’s why:

Poor Exchange Rates

Banks typically offer less competitive rates compared to specialist FX providers, meaning you get less in the destination currency.

High Transfer Fees

Many banks charge international payment fees ranging from £10–£30 per transaction. Over time, those costs stack up.

Slow Processing Times

International bank transfers can take up to 5 working days to clear. These are delays that could cause stress around rent deadlines or tuition payments.

How to Transfer Money Safely and Efficiently for Study Abroad

Use a Specialist FX Provider Like Indigo FX

Indigo FX is built to help families and students manage international transfers confidently and cost-effectively.

With us, you get:

• Bank-beating exchange rates on GBP to EUR, USD, AUD, CAD and more
• No hidden fees—what you see is what you get
• Same-day or next-day payments, depending on the destination
• Personal account manager support, guiding you at every step

Whether you’re sending one-off tuition fees or monthly rent payments, we help ensure more of your money makes it overseas.

Top Tips for Parents and Students Sending Money Abroad

Plan Payments in Advance

If you know your tuition fees or rent are due at a set time, book your FX rate in advance using a forward contract. This lets you lock in today’s rate for future transfers, protecting you if the pound weakens.

Consider Recurring Transfers

For regular payments (e.g. monthly rent), Indigo FX can help you set up scheduled transfers to avoid missed deadlines and reduce hassle.

Watch the Market

Exchange rates move daily. If your currency pair is particularly volatile, our team can help you set market orders that trigger transfers when a target rate is reached.

Prioritise Security

At Indigo FX, your funds are protected in separated client accounts, and we’re regulated by the FCA. That’s peace of mind for parents and students alike.

The Indigo FX Advantage: Personalised Support When You Need It Most

We know studying abroad is a big step. That’s why our team goes beyond transactions. We’re here to make sure your money works harder, faster, and smarter for you.

With Indigo FX, you’re not just choosing a safer, cheaper way to send money, you’re choosing a partner who understands how important every pound is.
Get in touch today to set up an account or speak to one of our FX experts. We’ll help you take the stress out of overseas study transfers so you can focus on what matters most.