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What happens to the account in a year when the student visa ends? Does it need to be updated? Or does it exist for the duration of the card?
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In a year you do not need anything for sure) after the expiration of the card will simply release a new one, ideologically confirm also nothing is not necessary.
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The account is most likely like a regular bank account(I had nothing to do with the currency myself, I just know that you can open it).