Lifestyle

Setting up a bank account

By bzellie 01 Sep 2020

Opening a UK bank account is an essential step that will allow you to withdraw money, make bank transfers and help you keep on top of your finances.

a close up of a hand

Picking a bank

In the UK there are lots of banks to choose from, and each has different offers for students. Consider the following before opening a bank account:

  • Is the banking offering incentives? Such as a free railcard or subscriptions to educational materials
  • Does the bank charge for international transfers or have a monthly charge for the account?
  • Does the bank have comprehensive online support? Many banks have limited opening hours due to the COVID-19 pandemic, as a result being able to contact your bank remotely is really important because you might not be able to visit a local branch

Comparing banks

Below you will find a table outlining transfer fees, extras and how to setup an account. In addition to the high street banks, there are also online banks that offer online banks accounts (not necessarily student specific) such as Monzo, Revolut or Starling.

Before you open a bank account

You need to make sure you have:

  • Completed enrolment with the University

Information you will need to setup a bank account

  • Your full name, home address, home telephone / mobile phone number number, your University and accommodation address
  • Your passport
  • Any secondary form of identification (such as your student ID card, birth certificate, driver’s license)
  • An amount of money to deposit into the account (this will vary between banks)

These requirements may be slightly different across banks, so make sure you check what your bank requires before setting up an account. For more information about setting up a UK bank account check out this article.

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