It is costly to study in UK for overseas students. To reduce financial burden, opening an international student bank account in UK is essential. By doing so, overseas students can maximise their funds.
One of the primary advantages of a bank account in UK is that it enables students to make transfers quickly and with fewer expenses. Additionally, it also removes currency conversion fees levied on the domestic bank accounts of students.
Moreover, overseas students can use UK bank accounts to receive wages for their part-time jobs. Additionally, paying student accommodation rent through a UK bank account is more viable and cost-effective.
How to Open an International Student Bank Account in UK?
Here is a detailed guide to opening an international student bank account in UK:
- Research and select a UK bank that offers this feature
- Compile mandatory documents
- Take an appointment with the selected bank
- Go to the nearby branch with all the required documents
- Complete the account opening form provided by the bank
- Submit the initial deposit, if asked for
- Undergo anti-money laundering and background checks
- Receive bank details like bank account number and sort code
- Set up online banking and apply for debit and credit cards
Which Documents are Required to Open an International Bank Account in UK
To open an international account in UK, overseas students need to submit the following documents:
- A valid passport
- A student visa
- Proof of address in the United Kingdom
- Acceptance letter from the university or Confirmation of Acceptance for Studies (CAS)
- 3-month bank statement from the domestic bank of the overseas student
Best Banks for International Students in UK
Here are the most popular banks for international students:
- HSBC Bank
- Barclays
- Halifax Bank
- Santander Bank
- Lloyds Bank
To get the latest information about international student bank accounts, international money transfers, and study abroad loans, stay in tune with Fly Finance News Desk.
