Getting Started
Whether you’re a local or an international student, navigating the world of banking in the UK is an important step to financial independence. Having a bank account will make it easier for you to manage your finances, pay your tuition fees, and handle everyday expenses.
UK banks offer special accounts tailored to students like you. These student accounts come with great benefits such a free rail cards, shopping discounts, and even cash back. You have two options when it comes to banking: High Street banks for in-person service or Digital banks for convenient online banking.
What should you do next to open a bank account?
1. Research Banks - Explore which bank works best for you and your finances.
2. Choose an Account - Select a student account that benefits you the most.
3. Gather your documents - This could include a bank letter, proof of UK address, official passport or more.
4. Finish Application - Submit your application and await their decision.
Banking in the UK
Banking in the UKWe recommend all students look at banks protected by the Financial Services Compensation Scheme (shortened to FSCS) .
Some examples of banks include:
One of the advantages of Wise is that they do not require a UK address to open an account. If you need access to funds but don’t yet have a long-term address in the UK, this may be a good option for you.
For students who are opening a brand-new account, it may be difficult to book an appointment during busy times. In this case, you may wish to plan how to access funds to pay for your expenses. This might mean looking into an online bank or bringing/taking out a small amount of cash from an ATM to spend on necessary expenditures.
Further information on setting up a student bank account, accessing overseas money abroad and credit can be found here.
Further Reading for Banking Information
