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Kate Dimon

Question:

Dear Expert,

My daughter leaves in a fortnight to move to Brussels to do her Masters at the University of Kent. She does not know how to exchange her money or set up an account and needs access to her funds. How should she proceed?

Best,
Kate

by Kate Dimon on 21 Dec 2011
Judy Mansfield

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Answer:

Dear Kate,

Thanks for your enquiry. You will find that most banks will allow your daughter to set up a European Euro account with standard identification. As soon as this has been set up it is very easy to send money from your or your daughter's account through to the new account.

Registering with a currency company such as First Rate FX is quick and simple and can be done from our main website. As soon as your trading facility has been activated, the currency traders will be able to let you know the live rate of exchange. They can then take a simple payment on a debit card and arrange for the Euros to be deposited into the new account the very next day.

I would recommend setting up your trading facility with a currency company such as First Rate FX before your daughter sets off for Brussels. This will allow you to immediately move funds to the new Euro account when it is set up. We actually already work closely with many universities, including the University of Kent for their overseas students' currency needs.

I hope this is helpful - please get in touch if you need any further information. Best of luck to your daughter in her studies!

Yours sincerely,
Chris Canning

by Judy Mansfield on 28 Dec 2011

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