Banking in the UK
- SAFETY AND SECURITY – It is better to deposit money in a bank so that cash is not lost or stolen.
- FOR VISA PURPOSES – If you need to extend your current visa or apply for a new visa you will need to show financial evidence to prove that you have enough money to live in the UK. Having a UK bank account helps you to do this quickly and easily.
- PAYING FOR TUITION AND ACCOMMODATION FEES – If you need to transfer money from your home country, it is much easier if you have a bank account in the UK.
- FOR A PART-TIME JOB - many businesses pay salaries directly into a bank account and there may be bank charges to pay this into an overseas account.
You will need to bring the following items with you to the bank to open an account:
- Your passport and visa
- EU Identity Card
- A bank letter from the University - this can be requested at the Fielding Johnson Building Reception (please allow 3 days for production)
You may also wish to take a letter of introduction from your home bank if you have this.
How long does it take?
Many banks also have tight security measures, so that although some accounts can be open in 1-2 weeks, other banks may take up to 5 weeks, although you can usually deposit money immediately.
It is very important that you do not deposit all of your money when you open the account so that you have money for a few weeks in case of delays.
There are lots of different banks in the UK and each provide a variety of accounts. The British Bankers Association provides a useful leaflet which summarises the options that may be available to you (usually a basic, savings or international student account). You should also speak to representatives from the banks before choosing an account as some bank accounts have a small charge per month or may be able to offer advantages such as free travel insurance. This will vary from bank to bank and at different times of year so it is worth doing some of your own research if you want the best deal.
International students are temporary residents in the UK which means that you may not have the same access to banking services that you are used to in your home country e.g. credit card or overdraft facilities.
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|HSBC||British Bankers Association
|Islamic Bank of Britain|