Money Abroad for English Teachers
Managing your money as a teacher abroad
From paying your programme deposit to sending savings home, moving money between countries is where new teachers lose the most to hidden fees. Here's how to keep more of what you earn.
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Why moving money abroad costs more than you think
When you pay in another currency through a high street bank, the cost usually comes in two parts: a transfer fee you can see, and an exchange rate that's worse than the real one. That second part is easy to miss, and over a year of paying deposits, topping up your account and sending money home, it adds up.
As an English teacher abroad, you'll move money more often than most people. You might pay a deposit in euros before you've even left, spend on a foreign card in your first weeks, get paid in won, yen or dong, and send savings home every month. Getting the basics right at the start saves you money for your whole contract.
Not sure where to go yet? Compare countries, pay and requirements first.
Your money, step by step
Before you go: deposits and fees
Some programmes ask for a deposit or fees in local currency, such as the refundable €850 deposit for our Spain language assistant programme. Check what the recipient will actually receive before you pay, and keep the receipt.
Your first weeks: spending before payday
Your first salary can arrive several weeks after you land, and you may not have a local bank account yet. Take a card that works abroad without heavy foreign transaction fees, a little local cash for arrival day, and enough to cover you until payday.
Payday: getting paid locally
Most schools pay into a local bank account, and many help you open one when you arrive. Bring your passport, visa and work contract, as banks usually ask for all three.
Every month: sending savings home
This is where the savings really add up. Compare the amount that will land in your home account, not just the fee. With Wise you can see the exact amount before you send.
Moving on: several currencies
If you teach in more than one country, or travel in your holidays, holding money in a multi-currency account saves you converting back and forth.
Money moments by destination
What you'll typically need to pay or move in some of our most popular destinations. Your job page has the full details for your role.
| Destination | Paid in | Money moments to plan for |
|---|---|---|
| Spain | Euros (EUR) | €850 refundable programme deposit before you go; your monthly stipend, then living costs if you rent independently |
| South Korea | Korean won (KRW) | Visa document costs before you go; covering your first weeks until payday; sending savings home each month |
| Japan | Japanese yen (JPY) | Setting up rent and bills; covering your first weeks until payday; sending savings home |
| China | Chinese yuan (CNY) | Rent deposits if you get a housing allowance; moving money out can be restricted, so ask your school how others send savings home |
| Uzbekistan | Uzbek som (UZS) | Cash is still common; plan how you'll access money in your first weeks and how you'll move savings out |
Wise supports many currencies and routes, but not all of them in every direction. Check that your currency and route are covered before you rely on it.
Your money checklist before you fly
Ten minutes of planning now saves a lot of stress in your first month.
Take at least two cards, kept separately, in case one is lost or blocked
A small amount of local currency for transport and food on day one
Ask your school when your first salary will be paid
Savings you don't touch, for flights home or medical costs
Passport, visa and contract to open a local bank account
School cover often starts late; see our travel insurance guide
The rest of your toolkit
120-hour TEFL for £63
The certificate most schools ask for, at ESLstarter's discounted price. See the course
Teaching jobs abroad
Current roles in Asia, Europe, Latin America and online. Browse jobs
Money abroad: your questions answered
What's the cheapest way to send money home while teaching abroad?
Traditional banks often add a fee and a marked-up exchange rate to international transfers, so you can lose more than you realise. Money transfer services such as Wise use the mid-market exchange rate and show their fee upfront, which usually works out cheaper. Always compare the amount that will actually arrive before you send.
How do I pay a programme deposit in euros or another currency?
If a programme asks for a deposit in a foreign currency, such as the €850 deposit for our Spain language assistant programme, a bank transfer from your home account can be expensive. A Wise account lets you see exactly how much the recipient will get, and pay it at the mid-market rate.
Do I need a local bank account when I teach abroad?
Usually, yes. Most schools pay salaries into a local bank account, and your school will often help you open one after you arrive. Until then, a card you can use abroad, such as the Wise debit card, helps you cover your first few weeks.
How much money should I take when I move abroad to teach?
Plan to cover yourself until your first payday, which can be several weeks after you arrive. Budget for food, transport, a phone plan and any rent deposit, plus an emergency fund. Your country guide and job page explain what your school provides.
Is Wise a bank?
No. Wise is a money services company rather than a bank. In the UK it's authorised by the Financial Conduct Authority. Check how your money is protected in your own country before you hold large balances.
Does ESLstarter earn money from these links?
Yes. We're a Wise affiliate, so we may earn a commission if you open an account through our links, at no extra cost to you. We only recommend services we think are genuinely useful for teachers abroad.
Know exactly what you'll pay, and what will arrive, before you send a penny.
The simplest money rule for teachers abroad
We may earn a commission if you open a Wise account through our links, at no extra cost to you.
