Can I Open a Bank Account in the UK?

Opening a UK Bank Account

Can I open a bank account in the UK?

In most cases international students will only be able to open an account that offers basic banking facilities. The type of documentation you will need to provide to open an account varies from bank to bank; you will therefore need to take this into consideration when choosing a bank.

How do I choose which bank is best for me?

Before deciding which bank you want to use, you should compare what services they can offer you and what charges they will apply. You could also ask your bank at home if they have a special agreement with a bank in the UK.

What should I ask the bank?

Here are some of the questions you may want to ask the bank when you enquire about their accounts:

 Which documents do I need to open an account?  Will the bank charge me a monthly fee for the account?  Do I need to deposit a specific amount of money when I open the account?  What sort of card will I get – cash (ATM) card or debit card  What services does the account offer? (direct debits, standing orders, cheque book etc)  How long does it take to open the account?  Do you send bank statements every month? (Please see important note below)  Does the account comply with Shariah Law? (only if you wish to opt for an account which complies with these Muslim principles).

What do I need to open an account?

Requirements may vary from bank to bank, so check with the bank what they will need from you. As a general guide, this is what you will be required to provide:  Your passport with your valid student visa or valid biometric ID card (banks are required to check that you have a valid visa for the UK).  EU students will need to check if a national photo ID card will be sufficient.  A letter from NTU confirming your course details and UK and overseas addresses (also called: “Letter of Introduction for UK Banking Facilities”). You will need to request this letter from your School Office once you have decided which bank you will use.

IMPORTANT: Bank Statements

Most banks will send you this document by post every month. It includes details of all the transactions for your account. They are important and you should keep them as they will be required for visa applications or as proof of address. Online statements may not be accepted for visa applications, so it is better not to choose this option if offered. Most banks can send you duplicates, but it can take several weeks to receive them and you may be charged for them. International students are advised to ensure their bank can send regular bank statements. What else I should know about bank accounts?

Once you have opened your account, remember the following:

 Always remember to tell the bank if you change your address. • It is important to keep your bank statements. You will need these if you have to extend your visa. Most banks charge for duplicate statements and it may take several weeks for you to receive them. • Keep your personal details and account details somewhere safe, to prevent someone else using your account or “stealing your identity”. More information about this is available at www.actionfraud.police.uk/fraud_protection/identity_fraud.

Banking Terms:

Cash Card A cash card enables you to withdraw money from an ATM/cashpoint.

Cheque Book You can use a cheque to pay for some goods and services. You will usually need a cheque guarantee card when you pay by cheque.

Debit Card You can use a debit card to pay for goods and services. Debit cards are accepted in nearly all places, including for online payments. Debit cards can also be used in ATMs and are usually used as cheque guarantee cards too.

Standing Order This is where you instruct the bank to make regular payments on your behalf (e.g. paying your rent to your landlord)

Direct Debit This is where you sign an agreement for a company to directly debit your account, usually on a monthly basis. This is often used to pay utility and phone bills.

Overdraft This facility allows you to spend more money than you have in your account. The bank will usually charge you interest if this happens and sometimes other fees as well. Check with them before you use this facility as it can be very expensive.

Interest A charge for borrowing money, or a reward for saving money. It is usually shown as a percentage of the money borrowed or saved.

Where can I get further information?

Visit the nearest branch of the bank for further information about the accounts they offer and how to open an account. You can also find information about their products online: Name of Accounts available Cost Account Cost of Address of local branches Website for Bank of facilities money more details Accou transfers nt abroad

Halifax Easycash Account No Visa electron card Per transfer 7 – 11 Milton Street Nottingham www.halifax.co.uk month £19.50 NG1 3EP /bankaccounts/ba ly fee online, mobile and sic-bank-account/ telephone banking or £9.50 1 St Peters Square Nottingham online NG1 2NW

HSBC Basic Bank Account No Debit card Varies 26 Clumber Street www.hsbc.co.uk/1 month NG1 3GA /2/current- ly fee online, mobile and accounts/basic- telephone banking 19/21 Lister Gate Nottingham bank-account Mobile Apps NG1 7DE

Lloyds Cash Account No Debit card, Direct Per transfer 12-16 Lower Parliament Street, Cash Account: month debits £20 Nottingham NG1 3DA www.lloydsbank.c Classic Account ly fee om/current- online mobile and Market Square House Old Market accounts/cash- Islamic Account telephone banking Square Nottingham NG1 6FD account.asp? WT.ac=CACASHF OM&srnum=1

Classic Account: www.lloydsbank.c om/current- accounts/classic- account.asp

Islamic Account: www.lloydsbank.c om/current- accounts/islamic- account.asp? WT.ac=CCAIFOM1 Natwest Basic Account Basic Debit card, direct Varies 148 - 149 Victoria Centre Basic Account: – no debits Nottingham NG1 3QT http://personal.na Select Silver Account month twest.com/person ly fee online mobile and 16 South Parade al/current- telephone banking Nottingham NG1 2JX accounts/compare Select -current- Silver accounts/basic- Accou account.html nt - £10 Select Silver per Account: month http://personal.na twest.com/person al/current- accounts/compare -current- accounts/select- silver- account.html

Santander Basic Account Basic Cash card/Debit card Per transfer Student Support Services Basic Account: Accou direct debits - £25 Newton Building www.santander.co nt – Burton Street Nottingham NG1 .uk/uk/current- International Student no online, mobile and 4BU accounts/basic- Current Account month telephone banking current-account/ ly fee International Intern Student Current ational Account Stude www.santander.co nt .uk/uk/current- Curre accounts/other- nt 123-student- Accou current-accounts/ nt - £5 per month TSB Cash Account No Debit card Varies 11 Low Pavement Nottingham Cash Account: month NG1 7DQ www.tsb.co.uk/cu Classic Account ly fee Internet and rrent_accounts/ca telephone banking 7 Beast Market Hill Nottingham sh_account.asp Islamic Account NG1 6FB Classic Account: www.tsb.co.uk/cu rrent_accounts/cl assic_and_classic _plus_accounts.as p

Islamic Account: www.tsb.co.uk/cu rrent_accounts/isl amic_account.asp