Opening a UK Bank Account
Open an online bank account first
The easiest way to open a UK bank account is to use an online current account provider such as Monese, Monzo, Starling or N26. The process is simple as all you need is your passport, UK phone number and smart phone.
High Street Banks (lloyds, Barclays, Natwest, HSBC etc) have harder rules to meet which is why we recommend opening an online account with one of the providers above while you settle in before considering approaching the High Street Banks which can cause frustration. To open a High Street Bank Account you will need proof of identification (Your passport with relevant working visa should be enough) as well as a proof of address (usually two of council tax bill, home phone bill, gas/electricity bill, water bill). Obviously the proof of address is hard to prove if you're new to the country.
Money solution for travel outside the UK
Banks enjoy charging you money for foreign transactions using your card, charging fees for withdrawing money from overseas ATM's and also giving you an unfavorable exchange rate on transactions. So to counter this and keep more of your hard earned money in your pocket we recommend getting a Revolut Card which offers interbank exchange rates (with only a .5% charge for anything above £5000 a month) and up to £200 fee free cash withdraws a month.
In short Revolut is an electronic money institution that offers you an app and prepaid contactless mastercard/visa card that provided you dont withdraw more than £200 cash or spend more than £5000 is fee free and giving you the best exchange rates on your money! The process of getting a Revolut card is easy and simple.
Note: This page is for guidance only please research which financial institution is best for your needs and does not qualify as financial advice.
