How to Open a Bank Account in the United Kingdom
Opening a UK bank account is a good idea for anyone intending to live in the UK. Students, too, who are studying in the UK for a certain period of time may also want to open a UK bank account. The procedure is straightforward, although the variety of accounts offered by different UK banks is huge. Common accounts include Basic account, Current account and Savings account. Only the latter two offer overdraft facilities and overseas citizens are sometimes given a Basic account to start.
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Instructions
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Visit the main high street banks and speak to an adviser about what type of account they can offer. The biggest UK banks are Barclays, Lloyds, Halifax and HSBC. Each of these banks have "student accounts" and advisers who deal specifically with those student accounts. Other staff are on hand to deal with general bank account queries.
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Choose an account. For overdraft and direct debit facilities, a Checking account is most suitable. To primarily store funds, a Savings account is going to be best, as it pays a higher rate of interest. If you can show no evidence of having had a bank account previously, you are likely to be offered a Basic account. A Basic account allows you to use ATMs (cash withdrawal machines) but does not give you access to overdrafts or direct debits.
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Provide your chosen bank with two forms of photo ID. Acceptable forms of photo ID include a passport, driving license and national identity card. You also need to provide the bank with proof of address. As you are unlikely to have any bills or bank statements, having just arrived from overseas, most banks will accept tenancy agreements or a letter from a UK employer confirming your address.
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Deposit funds into your account. Most UK banks ask for you to make an initial deposit into your account to activate it. This is usually in the region of £50. Often banks will match your initial deposit, meaning you start with £100, as a 'welcome gift'.
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References
- Photo Credit bank card 8 image by chrisharvey from Fotolia.com
