Opening a bank account
International students new to the UK want to settle in as soon
as possible. Opening a bank account will help you achieve this.
All international students are advised to open a bank account
in the UK as this if by far the safest and most effective way
of managing your money. Bank accounts are also useful if you
decide to seek part time employment as employers will want to
pay your earnings directly into one.
a. What sort of account should I open?
Students often have difficulty opening accounts in foreign countries
mainly because banks take a while to process new accounts and
to perform credit checks of international applicants. However,
most international students should be allowed to open what is
called a "basic bank account". A basic bank account allows a
student to pay money in and take money out, and you are normally
provided with an ATM card to withdraw your money from cash-points.
Basic bank accounts do not offer students any form of credit,
so you will not be given any overdraft facility, chequebook or
credit card. Some international students might find that certain
banks will be prepared to offer them a student account that offers
more flexibility than a basic bank account. These accounts may
offer some limited credit facilities such as a chequebook. The
International services office will be provide you with all the
necessary information during the orientation programme once you
have reached campus, before the start of the academic year.
a. How to open a bank account?
In order to open a bank account in the UK, you will normally
be required to provide documentary evidence of both your identity
and your address here. Some banks will also require confirmation
of your overseas address. If you are making an initial deposit
of quite a large sum of money, there is an increased likelihood
that the banks might offer you a more generous account.
The following is a list of documents that you are normally required
to provide in order to open an account. Please note that these
documents do vary from bank to bank and from branch to branch:
- Proof of identity
- Current signed Passport (some banks will accept a National
Identity Card)
- Evidence of your student status and address
- Formal University offer letter sent to your overseas address
- Formal letter from Limkokwing confirming that you are a fully
enrolled student, the start and end dates of your course and
confirming both your overseas and UK address.
- Tenancy agreement
- Utility bills showing your name (You will not have these
if you have only just arrived in the UK
Students should expect to wait for approximately ten days or more
before their accounts are fully functional.
