Opening a UK Bank Account

If you are entitled to claiming benefits and or tax credits, you will also need this facility to have your money paid to you without delay. Many employers will only pay you through a bank account.

Once you need to pay bills, you will also find out that it is cheaper and more convenient to pay bills via your account as direct debit or standing order.

Having a UK bank account also help reduce of your been mugged, as it means you do not have to carry large amount of cash in your person or at home.

Any one above the age of 16 or 18 with valid permit to stay in the UK either for a short time as a student or worker or for extended length of time can open a UK bank account.

In deciding whether to accept your application for a UK bank account, banks may apply to credit scoring agents to check your credit rating. This should not be a problem if you are new to the UK and do not have bad credit problems from your home country. If you are concerned and want to be sure, you can get your free Experian credit report online and see the information lenders and bankers will see about you.

Even at that, there are banks that will still open an account for you despite poor credit rating. You just need to book an appointment with a senior member of the bank and speak honestly about the past.

A Basic UK bank account is one that provides you with the facilities of paying money into your account, being able to withdraw cash from an ATM by means of a cash card or branch as well as pay bills by direct debit or standing order. You do not have facilities for overdraft. You do not have a cash guarantee card too. This type of account should satisfy most of your needs.

A Current UK bank account allows you to have all the above (basic account facilities) plus a debit card, cash guarantee card, cheque book, and overdraft facility. You will be required to pay some monthly bank charges on some current account. Always ask before concluding the agreement to open an account. There are current accounts that do not attract monthly payments. If you are desperate to open a current account some banks will allow you to switch from a fee paying current account to a non-fee paying account after a few months.

A Savings current account allows you to earn higher interest rate on your money. It does not allow you to pay bills, have overdraft or cash / debit card. It is good to have if you want to be putting some money aside for rainy days. Some banks will however require you to give them some notice period before withdrawing from your savings account.ING Direct pays very competitive rates and do not require a notice period. You can open a savings account with them with as little as £1.00.

Which UK Bank To Approach?

The UK is home to a few of the top 10 best banks in the world. You should have no problem with choice of bank. Things that should influence your decision to choose a bank over the other should be issues like:

• Proximity to your home, work place or educational institution

• How much interest they pay

• Is there facility for internet and or telephone banking?

• Is there provision for direct debit?

• How much will there charge me for unarranged borrowing

• Do they subscribe to the banking code?

• Will they accept me if I have been bankrupt in the past or have poor credit rating?

Friends will no doubt influence you on choice. There is no harm in listening to their advice which could be out of experience.

The following banks are well known and you should be able to open a bank account with them:

Alliance & Leicester



Bank of Ireland



Bank of Scotland



Barclays



Co-operative Bank

Clydesdale

HSBC



Lloyds TSB



Nationwide



NatWest



Northern Bank



Royal Bank of Scotland

Smile Internet UK Bank Account



Ulster Bank



Yorkshire Bank



ING Direct Savings Account

Requirements to Open A UK Bank Account

You do not need any money to open a UK bank account. Most UK banks have the similar requirements. All you need are proof of your identity and where you live. To very thses, you will be required to provide:

. Proof of Address



. Passport / Travel document or full UK driving license if you have one



. Proof that you are a student or have permit to stay in the UK

Once you are able to provide these requirements for opening a UK bank account, and your credit rating is good, most banks should be able to provide you with a bank account within 2 -3 weeks.

If you have problems meeting these requirements, you can read about how to get proof of address in less than two weeks from our Proof of Address page.

Some companies like 1st Contact are able to assist with opening a UK bank account for a fee.