Bank Accounts

How can I set up a bank account?

To open an account, you need to complete an application form from the bank of your choice and provide all the documents requested, such as your passport, a letter from the College confirming that you have a place on a course and proof of your UK address.

If you do not yet have a UK address some banks will consider offering you an account if you can provide official documents showing your address overseas.  Some banks also require evidence of income from sponsors or family; or proof of savings in your home country.  References and bank statements from a bank at home may be useful.

There are a number of banks in the UK offering different types of accounts and facilities. Students on courses of one year will normally be able to open a basic bank account, which allows you to pay in and withdraw cash and pay bills by standing order.  You will get a cash card but will not be able to access credit or an overdraft facility. You may also have to pay fees.  Most students in the UK for over one year can open a student account or a current account. With these types of account you would usually be provided with a chequebook and cheque guarantee card as well as easy access to your money.  Some banks will offer an overdraft facility. We suggest you shop around for the best deals.

Students coming to study for less than a year may have problems opening a bank account. 

Can I open a bank account if I am only in the UK for six months to one year?

It is often difficult to find a bank that will open a bank account for you. They may offer a basic account rather than a student account, which will include fees for banking.  However, as long as you do not go overdraw on your agreed limit, you will not be charged any fee.

Can I open a bank account if I am in the UK for less than six months?

If you are on a course of less than six months it will be extremely difficult to find a bank that will open an account for you.  We suggest that you visit a number of banks to discuss what they can offer.  If you are not able to find a bank willing to open an account for you, you should seriously consider converting you money into travellers’ cheques.

You will be able to buy travellers’ cheques at most banks and at Bureaux de Change.  Please check the cost before doing so as charges can vary.   Also check the cost of changing your money back into pounds sterling. 

We suggest that you do not keep large amounts of cash on you for security reasons.

ACCA