can a tourist open bank account in uk

A Comprehensive Guide to Opening a UK Bank Account (Even For Non-Residents Online)

Co-Founder of Monito and money transfer expert, François has been helping Monito’s users navigate the jungle of money transfer fees, bad exchange rates and tricks for the last ten years.

Monito's Managing Editor, Byron has spent several years writing extensively about financial- and migration-related topics.

Links on this page, including products and brands featured on ‘Sponsored’ content, may earn us an affiliate commission. This does not affect the opinions and recommendations of our editors.

With its high standard of living and easy-going way of life, the UK is one of the world's most popular countries for living and working.

Whether you've just arrived in the country or are planning to move there soon (or whether you're there for university, work, or anything else), one of the things you'll need to get in order is a local bank account. This comprehensive guide delves into the nitty-gritty of how to open a bank account in the UK for non-residents in particular . If you're already a UK resident, no problem; you'll find that much of our information still applies to you too.

Fortunately, depending on your needs, the process should be doable, and you'll likely be able to open a bank account online in the UK without much hassle. (And, if you've heard the horror stories about opening a bank account in the UK, don't worry too much!)

Are you in a rush? Here are our recommendations if you're...

• from the EEA with no UK residence: Revolut gives you a UK account number, sort code, SWIFT code, and a debit card to spend in over 30 currencies, including pounds.
• not from the EEA with no UK residence: A Wise Account gives you multi-currency bank details in nine countries, including in the UK.
• in possession of a UK residence: Starling Bank offers a fully-fledged online current account that costs next to nothing every month.

Because it's needed to open most bank accounts, proof of address is usually where newcomers and non-residents in the UK hit a brick wall. It's also challenging if you've landed in the UK to live with relatives, where you won't have any bills or rental contracts in your name.

Can I Open a UK Bank Account as a Non-Resident?

All told, there are three main paths to open a bank account online in the UK, and not all of them are suitable for all types of non-residents. As a result, the best UK bank account will depend heavily on your needs and preferences. These paths are as follows:

• High-street banks: This path requires proof of UK residence and is only open to non-residents who make significant investments or who will soon be relocating to the UK. It's best for those who want extensive banking services and don't mind the fees.
• Online banks: Although the application is significantly more straightforward than at high-street banks, this path still requires proof of UK residence. It's best for those who want low-cost, digital banking services and don't mind slightly less banking coverage.
• Multi-currency accounts: This path provides a UK bank account without proof of address and is ideal for those wanting to open a UK bank account online from abroad.

Without further ado, let's explore each of these paths in detail below:

• 01. Path 1: Use a high-street bank (UK residents only) scroll down
• 02. Path 2: Use an online bank (UK residents only) scroll down
• 03. Path 3: Use a multi-currency account (no UK residence required) scroll down
• 04. How to get proof of address in the UK scroll down
• 05. How to transfer your money to the UK scroll down
• 06. Recapping how to open a UK bank account for non-residents online scroll down
• 07. FAQ about non-resident banking in the UK scroll down

Key Facts About Banking in the UK

Path 1: high-street uk banks.

The biggest high-street banks in the UK are HSBC, Lloyds, Barclays, NatWest, and Standard Chartered¹. Other big names include RBS, Nationwide, Santander, and Metro Bank. By "high-street", we mean traditional big banks with physical branches across the country (versus online banks, which don't have any branches). 

High-street banks will generally only accept your application if you can provide proof of UK residence in your name. The only exceptions are for wealthy foreign investments (which we won't discuss in this article) and for opening an account before moving to the UK. In the latter case, some banks such as Barclays and Lloyds allow account opening from abroad within three months of moving to the UK. Still, they also require a higher barrier to entry, i.e. upwards of £50,000 in gross annual income or £25,000 saved or invested with the bank².

All deposits in UK high-street accounts are protected up to £85,000 in the case of bankruptcy by the Financial Services Compensation Scheme (FSCS)³, making them safe from a customer perspective.

Types of Bank Accounts in the UK

There are numerous types of accounts in the UK, but here are the two that most people mean when they talk about a "bank account":

• Current account: Called a 'checking account' in the US, this is what most people are looking for basic everyday use, such as paying bills and receiving a salary. They generally come with a debit card and overdraft facilities. Chequebooks are no longer automatically issued to new customers, but you can opt for one if you wish.
• Savings account: These accounts traditionally yield a higher interest rate and are meant for what their name implies — saving money. Some savings accounts require you to not touch the funds for a set number of months or years. However, some current accounts also pay interest on balances up to a set amount.
• Basic account: Major high-street banks in the UK are mandated by law to provide basic bank accounts to legal residents and citizens. Basic accounts are fee-free and offer only the most standard deposit and withdrawal operations, including failed payments to prevent overdrafts.
• Joint account: Joint accounts are legally shared between family members. They are generally used for married couples to combine their finances together, or for parents to manage expenses with their children.
• Student account: Banks usually offer accounts with added features and low fees for university students. The fees raise to their standard levels once you graduate or reach a certain age limit.
• Digital mobile account: With both high-street banks and UK online banks, you should be able to access your account balances by desktop or mobile app. User experience and service quality certainly varies from bank to bank, with UK online banks specialising in digital-only accounts.
• International non-resident account: International accounts are ideal for non-UK residents who want access to current accounts and everyday services in the UK. In addition to the resources found in this guide below, learn more with our guide about the 8 best international bank accounts for expats .
• Offshore account: UK banks with an international presence (such as HSBC or Barclays), and banks in your home country with a presence in the UK (like Santander or Citibank), may offer offshore accounts. These accounts have high minimum balance requirements and monthly fees, but they usually come with an account manager and balances held in multiple currencies . Offshore accounts are often used for real estate management, investment management, trusts, or holding deposits.

Documents Needed To Open a UK Bank Account

To open a UK bank account, you generally need the following:

• Proof of identity: Passports, driving licences, and national identity cards are accepted. In general, if you're a foreign national, your best bet is to use your passport — EU ID cards are usually accepted, but if you're from Australia, your home driving licence may not be.
• Proof of UK address: Generally, a recent utility bill, rental contract, or council tax bill will suffice. Mobile phone bills are generally not accepted.

There are no banks that don't need ID to open an account. Banks are required by law to collect this information for Know Your Customer (KYC) and anti-money laundering (AML) reasons⁴.

Which UK High-Street Banks Offer Accounts For Non-Residents?

Below, you'll find the account offerings among major high-street UK banks that we found the most useful for newcomers to the UK. As we saw above, there are also premium accounts and specialised accounts for students and youth too, but we selected the basic current accounts for the sake of illustration:

HSBC is the UK's largest bank by market value and total assets.

• Account: HSBC Bank Account
• Monthly fee: £0
• Int'l transfer cost: 1.5% - 8% (depending on the currency)
• Int'l card payment cost: 2.75% with limits
• Proof of UK residence required: Yes

National Westminster Bank, known colloquially as 'NatWest', is a large British bank that's based in Edinburgh, Scotland.

• Account: Select account
• Int'l transfer cost: 5% - 10% (depending on the currency)
• Int'l card payment cost: 2.75%

3. Barclays

Barclays is a UK banking giant offering retail, business, and investment banking worldwide.

• Account: Barclays Bank Account
• Int'l transfer cost: 4% - 10% (depending on the currency)
• Int'l card payment cost: 2.99%

Famous for its black horse logo, Lloyds is a popular banking choice among UK residents, with millions of customers nationwide.

• Account: Classic Account
• Int'l transfer cost: 3.5% - 8% (depending on the currency)

Opening an Account Before You Move to the UK

If you plan to relocate to the UK soon, you can sometimes still open a British bank account without proof of residence.

At Barclays, for example, you can open a UK bank account online from your home country within 90 days of relocating there. You'll then be required to complete the application process at a Barclays bank branch after you arrive in the country. You'll be eligible to open the following two types of accounts this way: (1) the £0-per-month Barclays Bank Account mentioned earlier, or (2) the Premier Current Account , which has a high barrier to entry (£75,000 gross annual income or £100,000 saved or invested with Barclays) and comes with a lucrative rewards program.

Similarly, Lloyds offers customers the  International Current Account  in GBP before they move in from abroad. To open an account from your home country, you can apply online, though you must have a £50,000 gross annual income or £25,000 saved or invested with Lloyds (which is a lower barrier to entry than Barclays).

Learn more with our guide about the 8 best international bank accounts for expats .

Hire a Third Party to Sort Out the Paperwork

If you want a high-street bank account but merely thinking about all the options makes you lose your marbles, we recommend visiting  Sable International , which has relationships with several traditional banks, including Lloyds, Barclays, HSBC, and Metro Bank.

Sable facilitates an introduction to the banks, enabling you to open a UK bank account without the usual proof of residency documents, such as a utility bill. It offers several options:

• Bank account:  If you want to open a UK bank account, you can get one without proof of address. You have to provide a valid passport, proof of permission to live and work in the UK, a residential address to receive post (this can be a friend or relative you're staying with, you don't need a utility bill), and be able to attend an appointment in London with one of their banking affiliates.
• Relocation: If you'd like a UK bank account plus various bells and whistles, this option assists with setting up a UK bank account and obtaining a National Insurance (NI) number and offers one free international money transfer, a pay-as-you-go UK SIM card, and a guidebook covering life in the UK. 
• Tier 5 Visa:  If you want all of the above (including a bank account) and help to apply for a Tier 5 Youth Mobility Scheme visa, then this option allows people between the ages of 18 and 30 to live and work in the UK for up to two years. However, it's only available to citizens of certain countries (including Australia, New Zealand, and Canada).

Path 2: Online Banks

UK online banks (sometimes called "challenger banks" or "neobanks") can be either registered banks or non-bank fintechs. They're characterised by not operating out of branches, with all banking services handled online instead. These banks generally offer a more limited range of services than the high-street banks we explored above, but at a fraction of the price and over a user-friendly web or mobile app interface.

If you want to open a UK bank account without proof of UK address, then the only online banks that may accept your application will be  Monese and  Revolut  (although these will still require proof of residency in the EU/EEA or another country). On the other hand, Monzo and Starling Bank will require proof of address in the UK. Note that even if you don't submit proof of address, you might still need to supply a UK address to deliver your debit card.

Take a look at the UK's top three challenger banks according to our rankings, though we've summarised these rankings below too:

Starling Bank: Best UK Online Bank

Starling Bank  is a fully-authorised bank in the UK that's well known for its fee-free current account .

• Trust & Credibility 9.3
• Service & Quality 8.5
• Fees & Exchange Rates 10
• Customer Satisfaction 9.3

Because this account is entirely free and gives you access to an impressively complete range of financial services (including the Starling bank card , overdraft facilities, loans, joint accounts, youth cards, pensions, a euro account, interest rates, etc.), we think Starling offers the  best free bank account in the UK  — one we think makes an excellent replacement for a bank account at a high-street bank.

• Account name:  Personal Account
• Int'l transfer cost:  0.5% - 3% (depending on the currency)
• Int'l card payment cost:  0%
• Proof of UK residence required:  Yes
• More info:  See our full  Starling Bank review .

Monzo: Best Bank for Savers

Monzo  is a regulated UK bank and probably the country's most famous mobile-only bank account.

• Trust & Credibility 8.3
• Service & Quality 8.4
• Fees & Exchange Rates 9.8

An excellent choice if you're looking to avoid fees, Monzo (like Starling) charges no fees for day-to-day card use in the UK and abroad. Moreover, because it offers one of the most advanced and comprehensive savings systems we've seen from any challenger bank (allowing lots of flexibility over your time horizon and savings goals), we think Monzo is especially well-suited for managing and growing wealth , regardless of your individual goals.

• Account name:  Monzo
• Monthly fees:
• Int'l transfer cost:   0.2% - 2.5%
• More info:  See our full  Monzo review .

Suits Me: Best For New Arrivals

Suits Me is a reliable banking alternative for new arrivals in the UK.

• Trust & Credibility 7.3
• Service & Quality 7.0
• Fees & Exchange Rates 6.1
• Customer Satisfaction 8.6

It offers an easy and fast account opening process without requiring credit checks or proof of address. Additionally, Suits Me gives you a prepaid debit Mastercard, online banking services, and the ability to receive payments from employers and other sources (e.g. Faster Payments, BACS, and CHAPS, although not international SWIFT transfers).

• Account names:  Essential, Premium, Premium Plus
• Int'l transfer cost:  Not available
• Int'l card payment cost: £1.00 + 2%
• Proof of UK residence required: No
• More info:  Go to the website .

Path 3: Multi-Currency Accounts

Online multi-currency accounts aren't full banks in the UK but rather fintech companies (known formally as Electronic Money Institutions or EMIs) that often compete to offer the cheapest ways to transfer money globally. However, in addition to money transfers and currency exchange, multi-currency wallets normally come complete with a debit card, multi-currency account balances, and even foreign bank details.

Below, we go over three of the most prominent multi-currency fintechs: Revolut, Wise, and Monese.

Revolut: Best UK Account for EEA Residents

Probably the UK's most famous fintech, there's a good chance you've heard of  Revolut .

• Trust & Credibility 8.9
• Service & Quality 7.9
• Fees & Exchange Rates 8.3
• Customer Satisfaction 9.4

Using its innovative personal finance platform, you'll not only have access to a broad range of financial services unique among free online accounts, but you'll also be able to take advantage of these services at a comparatively low price. However, because it's  not yet a bank  in the UK, we think Revolut is best used as a powerful spending tool next to a main bank account, as opposed to in place of it (even if that bank account is in your home country).

Sadly, although Revolut is also available in the US, Australia, Singapore, Switzerland, and Japan, its British pound account details are only available to EU/EEA and UK customers who get both an EU IBAN account (in Lithuania) and a British current account number, sort code, and SWIFT code.

• Account names:  Standard, Plus, Premium, Metal
• Monthly fee:
• Int'l transfer cost: 0.5% - 1.5%
• Proof of UK residence required: Not necessarily
• More info:  See our full  Revolut review or visit the website .

Wise: Best UK Account for Non-EEA Residents

The Wise Account is the best way to open a UK bank account from abroad (especially if you're not from the EU/EEA and don't have access to Revolut).

• Service & Quality 8.9
• Fees & Exchange Rates 7.6
• Customer Satisfaction 9.6

Wise will work for you no matter whether you want to hold money in pounds, spend money on holidays abroad, shop online, or receive earnings from the UK. Fortunately, after opening your account online, you'll only be required to verify your identity; you won't need to show proof of residence in the UK to sign up and obtain the VISA debit card (although you will need to show proof of residence in the EU/EEA, US, Singapore, Japan, Australia, or New Zealand).

Here's what Wise has to say about opening an account without proof of residence in the UK⁵:

"You can then choose to either supply proof of address from a standard list of documents, or to send in a selfie, in which you're holding your proof of ID. This can be a great alternative if you're still waiting to move to the UK or haven't yet got bills and other paperwork registered in your name."

Wise's Top Features

Your Wise Pound account will be held by Barclays Bank and come with the following details unique to you:

• A sort code;
• An account number;
• A British  IBAN  (starting with "GB").

This means you'll be able to spend and be paid just like a local in the UK and convert your GBP balance into your home currency without the exorbitant bank fees. Here's an overview of the other features you'll get:

• Local bank details, not just in the UK, but also in the US, EU, Australia, New Zealand, Singapore, Romania, Canada, and Hungary.
• Hold, exchange, and top-up up to 56 currencies.
• A multi-currency VISA debit card that's handy for paying in foreign currencies without hidden fees.
• Access to  Wise 's powerful international money transfer service right from your account balance.

An Example of How Wise is Useful

To get a sense of how helpful Wise can be for expats and non-residents in the UK, let's say that you've just moved from Paris to London and need an active online account to receive and spend pound sterling. With a Wise, you'll be able to...

• send euros from your bank to your Wise euro account,
• convert all or part of your euro balance into sterling at a low fee of around €6.94 to add £1,000,
• pay with your Wise debit card, make or receive  SEPA  and  SWIFT payments, and set up  direct debits .

You'll also have UK bank details to share with an employer. Note that this account does not offer overdraft facilities, and you also won't earn interest on any in-credit balances.

Monese: Another Option for EEA Residents

Monese  is a mobile-only challenger bank that offers fully-fledged checking accounts to more than two million customers in the UK and across much of Europe.

• Trust & Credibility 7.6
• Service & Quality 9.0
• Fees & Exchange Rates 6.6
• Customer Satisfaction 8.7

Because Monese doesn't require you to prove your residence to meet the minimum creditworthiness standards to open an account in the UK, we think Monese is especially well-suited for new arrivals to the UK from the EEA. Although we don't find Monese quite as feature-rich as Revolut, we do think it has an advantage over Wise if you plan to split your life between the UK and a country in Europe.

Although you only get a Euro IBAN (starting with 'BE') if you're an EU/EEA resident, you will be able to use this to receive British pounds too. It's currently illegal to discriminate based on the origin of an IBAN in the UK and EU.

Here's an overview of Monese's offering:

• Account name:  Starter, Classic, Premium
• Int'l transfer cost:   0.5% - 1.5%
• Int'l card payment cost:  0% (0.4% - 0.8% for cash withdrawals)
• Proof of UK residence required:   Not necessarily
• More info:  See our full  Monese review .

How To Get Proof of Address in the UK

Regardless of which bank account you choose, if you're planning to move to the UK for a more extended period, getting your proof of address in order will be a necessary step in the long run.

Following modern anti-money laundering (AML) regulations, banks and other financial institutions are required to ask for appropriate evidence of identity whenever certain financial transactions occur. Checking that identity and proof of address match minimizes the chance that the account is opened under a false identity⁶.

What Document Count as Proof of Identity?

Banks and other financial institutions will require proof of identity in the form of a valid, government-issued passport, original birth certificate, EU/EEA member state ID card, current UK or EU/EEA driving licence, registration card for self-employed individuals, Resident Permit issued by the Home office to EEA nationals, National Identity card, or a Firearms certificate.

Provisional driving licenses and biometric residence permit (BRP) cards are often not accepted as proof of ID by UK banks.

What Document Count as Proof of Address?

In addition to a proof of identity, you'll also be required to provide one (even two) original documents to prove that you live where you claim to live (i.e. your residential address) in the UK. The following documents are practically always accepted:

• Utility bills, such as for electricity, gas, satellite, TV, or landline that are at most three months old. (Note that a mobile phone bill will not be accepted).
• A local authority council tax bill for the current council tax year.
• A valid UK driving licence.
• Bank or building society statement or passbook less than three months old (bank statements won't be accepted if they're from Monzo).
• Mortgage statement (issued for the last full year).
• Solicitors letter within the last three months confirming the property purchase (or the land registry confirmation of address).
• A council or housing association rent card or tenancy agreement for the current year.
• HMRC self-assessment letters or tax demand dated within the current financial year.
• Electoral Register entry.
• NHS medical card or letter of confirmation from GP's practise of registration for surgery.

Credit card statements or provisional driving licenses will not be accepted as proof of address. According to the  Financial Conduct Authority (FCA) , if you're unable to provide the documents listed above, you can request to see if the bank will accept any of the following documents:

• A letter from a care home manager or warden of sheltered accommodation or a refuge.
• A letter from the warden of a homeless shelter.
• A letter from a probation officer or a hostel manager.
• A letter from a prison governor.
• If you are a traveller, a letter from the local authority that verifies your address.
• If you are an international student, a passport or European Economic Area National Identity Card and letter of acceptance or introduction from a body on the Department for Education list.
• If you're an asylum seeker, an application registration card.

What If My Application to Open a UK Bank Account is Refused?

There are 9 major high-street banks in the UK that are required to offer basic bank accounts to legal residents and citizens in the UK. These banks are: Barclays UK, the Co-operative Bank, HSBC UK, Lloyds Banking Group (including Halifax and Bank of Scotland brands), Nationwide Building Society, NatWest Group (including Royal Bank of Scotland and Ulster Bank brands), Santander UK, TSB, and Virgin Money.

However, banks in the UK can still refuse to open bank accounts if you fail to provide proper documentation, such as a proof of ID or proof of UK address. Know Your Customer (KYC) laws require banks to obtain identity information about their customers to help prevent money laundering and terrorist financing.

Banks are not required to give their reasons for refusing an account. However, you can issue a complaint to the  Financial Ombudsman Service if you think you have faced discrimination. Typically, it takes 8 to 12 weeks to address such disputes. In the event that you are dissatisfied with the Ombudsman's final decision, you may consider pursuing legal action, though you will generally be responsible for covering your own legal expenses.

How To Send Money to a UK Bank Account

Once you've opened a bank account in the UK, you'll need to consider how to move your funds across , a process that can be exceptionally costly if you're depositing money from a currency other than pounds. To deposit money into your new pound sterling account from your home currency before you move, you'll need to go to your online banking and choose between one of two options:

• Sending a  wire transfer  through your bank directly;
• Sending a bank transfer via a money transfer specialist.

We don't recommend using your bank to transfer money internationally, as the fees can be exorbitant, and the waiting times can be lengthy. This is mainly because banks wire funds over the  SWIFT network , which adds many timely and expensive steps to the money transfer process.

Instead, if the amount you'd like to send to the UK is in the order of several hundred or thousand Pounds or equivalent, then we recommend you use a money transfer specialist service ( Wise  is one among many.) To compare which services are cheapest for your transfer amount and your home country to the UK, run a search on Monito's real-time comparison engine here .

On the other hand, if you're moving large amounts of money from your home currency to your new bank account in the UK (i.e. anything upwards of £30,000 or equivalent), services such as Wise may not be your cheapest bet. Instead, we recommend exploring your options among the  foreign exchange brokers  that support transfers from your country to the UK. These services specialise in negotiating favourable exchange rates on your behalf. They are the most cost-effective option for transferring large sums of money (such as life savings or liquid investments) across borders.

To find out which service will offer you the best deal in real-time, run a search on our comparison engine below:

Find the best deal when sending money to the United Kingdom:

Recap: what are the best online bank accounts in the uk.

To conclude, let's recap the main recommendations we explored in this non-resident banking guide:

• Revolut : Best GBP non-resident account for EU/EEA residents.
• Wise : Best GBP non-resident account for non-EU/EEA residents.
• Starling Bank : Best low-cost online bank for UK residents.
• Monzo : Best online savings account for UK residents.
• HSBC : Best traditional banking experience for UK residents.
• Monito : Best way to compare money transfers to the UK.

See our guide on the best online-only banks in the UK for more.

FAQ About Opening a Bank Account Online in the UK For Non-Residents

Few solutions offer a bank account in the UK when you don't have proof of address in the UK. With Monzo or Monese, you can open a UK bank account with just a few clicks, although you'll need to show proof of residence. Generally, we consider the Wise Account the best UK bank account for non-residents. See all the details about  opening a bank account in the UK without proof of address in our in-depth guide.

Expats moving to the UK might find it difficult to open a traditional bank account. To open a bank account, you need proof of address, which might be hard to get if you are a non-resident. The good news is that companies like Monzo or Monese offer a UK bank account without proof of address. You can have a UK bank account with just a few clicks. You will find more info about UK bank accounts for non-residents in our blog post .

Yes, it is possible to have a Euro bank account in the UK, and some UK banks offer bank accounts in Euros. However, the fees for such accounts are quite high. For low-fee (or even free) solutions, take a look at our guide to the best Euro bank accounts in the UK .

To open a bank account in the UK, you'll generally need two things:

• Proof of your identity: E.g. Passport, drivers license, or national identity card. In general, if you are a foreign national, your best bet is to use your passport.
• Proof of the address in the UK: E.g. a recent utility bill, rental contract, council tax bill. Mobile phone bills are generally not accepted. If you don't have proof of address, then we recommend opening a Wise Account to take care of your finances until you sort one out.

UK banks ask customers to prove who they are and where they live in the UK before they open a bank account. Proof of address ensures that a bank account is not opened under a false identity. Each bank accepts different documents, but in general, you will be asked to show two official documents, for example:

• Utility bills
• Local authority council tax bill for the current council tax year
• Current UK driving license
• Bank, Building Society or Credit Union statement
• Mortgage statement
• A council or housing association rent card or tenancy agreement for the current year
• Solicitors letter within the last three months confirming the property purchase (or the land registry confirmation of address)
• HMRC self-assessment letters
• Electoral Register entry
• NHS Medical card

Foreigners can open a traditional bank account in the UK as long as they have proof of the address, which sometimes it's hard to get. The good news is that there are companies like Monzo or Monese which offer UK bank accounts even without proof of the address. All the information about  opening a bank account in the UK you will find in our blog post .

A non-resident cannot open a bank account in the UK in a strict sense, as proof of address is always required by British banks for new customers. However, to open an account ahead of a move to the UK, you can opt to open a British pound foreign currency account at your local bank in your home country, or, you can open a savvy only multi-currency account in pounds (and dozens of other currencies) via Wise that gives you a full set of official UK banking details, including an IBAN, account number, and sort code.

• Current account: Called a 'checking account' in the US, this is what most people are looking for basic everyday use, such as paying bills and receiving a salary. They generally come with a debit card and overdraft. Chequebooks are no longer automatically issued to new customers, but you may be able to opt for one if you wish.
• Savings account: These accounts have traditionally yielded a higher interest rate and are meant for what their name implies — saving money. However, a number of current accounts also pay interest on balances up to a set amount.

There are also basic accounts (which are generally on offer for people with a poor credit history), as well as premium current accounts (which cost a monthly fee and come loaded with features), as well as current accounts aimed at youth and students.

Yes, in some cases, it's possible to open a Spanish bank account from the UK, although you'll need to prove a legitimate interest in Spain and obtain a certificate of non-residency (and the associated NIE number) in order to do so. Take a look at our guide to opening a non-resident bank account in Spain to learn more.

If you don't yet have a UK ID and are planning to move to the country, you can opt to open a British pound foreign currency account at your local bank in your home country, or, alternatively, you can open a savvy only multi-currency account in pounds (and dozens of other currencies) via Wise that gives you a full set of official UK banking details, including an IBAN, account number, and sort code.

Yes, it's possible to open a bank account online at most UK banks, although many high-street banks will require you to come in for an appointment too. To get an overview of which banks are completely online in the UK, take a look at Monito's guide to the best UK challenger banks .

• Statista: Largest banks in the United Kingdom (UK)
• Lloyds Bank: International Current Account
• FSCS: What we cover
• GOV.UK: Your responsibilities under money laundering supervision
• Wise: How to get a proof of address in the UK
• GOV.UK: Proof of identity checklist

Compare Top Online Banks in the UK

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• Supported currencies open Pound sterling (8) Euro (6) US dollar (5) Australian dollar (4) Canadian dollar (4) See all
• Overdraft open No (5) Yes (3)
• Annual interest rate open Very low (6) High (1) Low (1)
• Supports cash deposits open Yes (5) No (3)
• International transfers open Yes (8)
• Overall Monito Score
• Trust & Credibility
• Service & Quality
• Fees & Exchange Rates
• Customer Satisfaction
• Service & Quality 7.8
• United Kingdom
• Full bank account
• Everyday banking
• UK account no. & sort code
• Pound sterling
• Overdraft Yes
• Supports cash deposits Yes
• International transfers Yes
• Saving money
• Czech Republic
• Liechtenstein
• Netherlands
• Switzerland
• United States
• New Zealand
• Multi-currency account
• Spending while abroad
• Hungarian account no.
• US account & routing no.
• Australian account & BSB no.
• New Zealand account no.
• Canadian account
• institution no.
• Romanian account no.
• Singaporean account no. & bank code
• Turkish IBAN
• Australian dollar
• Bulgarian lev
• Canadian dollar
• Swiss franc
• Czech koruna
• Danish krone
• Croatian kuna
• Japanese yen
• Malaysian ringgit
• Norwegian krone
• New Zealand dollar
• Polish zloty
• Romanian leu
• Swedish krona
• Singapore dollar
• Turkish lira
• United Arab Emirates dirham
• Chilean peso
• Moroccan dirham
• Pakistani rupee
• Tanzanian shilling
• Uruguayan peso
• Argentine peso
• Botswana pula
• Chinese yuan
• Egyptian pound
• Ghanaian cedi
• Indian rupee
• Kenyan shilling
• Mexican peso
• Ukrainian hryvnia
• Vietnamese Dong
• Costa Rican colon
• Israeli new shekel
• South Korean won
• Ugandan shilling
• Bangladeshi taka
• Sri Lankan rupee
• Nigerian naira
• Philippine peso
• Russian ruble
• Overdraft No
• Supports cash deposits No
• All-in-one finance app
• Spending online
• Hong Kong dollar
• Qatari riyal
• Saudi riyal
• Trust & Credibility 8.6
• Service & Quality 8.6
• Fees & Exchange Rates 7.3
• Customer Satisfaction 9.9
• Travel card
• Easy registration
• Fees & Exchange Rates 7.8
• Customer Satisfaction 6.2
• Service & Quality 5.4
• Fees & Exchange Rates 6.0
• Customer Satisfaction 7.9
• No account details (balance only)

Non-Resident Bank Accounts in the UK vs Other Countries

Many countries allow non-residents to open a bank account within their legal jurisdictions, but exactly what kind of requirements non-residents face can differ drastically from country to country and even bank to bank. See the list below to get a better idea of this:

Last updated: 18/2/2022

Other Banking Guides in the UK

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Opening a bank account in the UK as a foreigner or non-resident

Yes. foreigners moving to the uk to live, work or study can usually open a bank account..

In this guide

Compare bank and e-money accounts for non-UK residents

How do i open a bank account in the uk, opening a bank account via a high street bank, opening a bank account with a digital bank, opening a multi-currency account.

• What if I don't have proof of address?

Which kinds of accounts are available to foreigners and expats arriving in the UK?

What are the benefits to opening a bank account in the uk, what should foreigners and expats look for in a bank account, bottom line, frequently asked questions.

Current accounts with

Current accounts

We compare the following banking apps

It’s a relatively simple process to open a bank account in the UK if you’re migrating, studying or working here. If you’re on a tourist or visitor visa you may be able to open a bank account with one of the e-money digital banking providers. If you live in another country and don’t intend to move to the UK, you can speak to a local bank that has international ties with a UK bank. We have separate guides on opening a bank account as an international student , opening a bank account without a standard type of ID and opening a bank account without proof of address if you don’t have permanent residence here.

We update our data regularly, but information can change between updates. Confirm details with the provider you're interested in before making a decision.

Learn how we maintain accuracy on our site.

You can open an account online before arriving in the UK, on the phone or in person at the branch once you arrive. If you decide to open an account in a branch, remember to bring valid forms of ID with you. This includes your passport or driving licence, and maybe an overseas credit card or student ID, a Visa and a letter proving where you are living in the UK. If you don’t have ID, you won’t be able to open an account however the range of documents that banks can accept is wider than you might think. We have created a list on this guide . A lot of banks, especially the high street banks, require proof of address to prove you are living in the country. This can take the form of a recent utility bill or other documents.

What are the requirements to open a bank account in the UK?

Opening an account with a high street bank will give you access to face-to-face banking in-branch, but you’ll usually be asked to provide proof of UK residency.

However, some banks, such as HSBC, Lloyds and Barclays, have international arms, enabling you to open certain accounts as a non-UK resident. The downside is that you often need to have several thousand pounds saved or invested with the bank, and you might need to meet minimum income requirements too.

You can usually open – or at least, start to open – these accounts online in selected countries across the globe. With the Barclays Bank Account and Premier Account, for example, you can start your application online before arriving in the UK and you then have 90 days to complete your application in a UK branch.

If you open an account with a UK bank, your money will be protected up to £85,000 by the Financial Services Compensation Scheme (FSCS).

Perhaps one of the easiest ways to open a bank account as a non-UK resident is with a digital bank. You’ll need to be happy completing your application and managing your account online or via an app. But if you are, providers such as Revolut, Monese, Monzo, Suits Me and Starling don’t require proof of a UK address. You may, however, still need proof of residency in the EU/EEA or another country and you’ll usually need a UK address so you can receive your payments card.

Opening an account with one of these online providers is quick and easy – you can often have your account up and running the same day. Many will include spending and budgeting features on their app, but to access a greater range of perks, you’ll usually need to select a plan with a monthly fee.

Just be aware that not all of these providers have FSCS protection. Revolut, Monese and Suits Me are e-money institutions, which means your money is protected by a process known as safeguarding. But it won’t be covered by the FSCS.

It’s also possible to open a multi-currency account with a number of e-money institutions, such as Wise, Revolut and Monese. The major advantage of this is that you can hold multiple currencies in your account and should you need to transfer funds globally, you won’t be charged extortionate fees for doing so. What’s more, Wise, Revolut and Monese don’t require proof of UK residency to open an account – which you can do quickly and easily online.

Again, though, you’ll need to be happy banking online or via an app and you won’t get FSCS protection on your money. What’s more, the best features are usually included on the accounts that charge a monthly fee.

What if I don’t have proof of address?

You could open an account with a challenger bank – these are digital banks without branches and you open the account online. This usually takes a few minutes and requires a UK address and a proof of identity (passport or driving licence), but usually no proof of address .

Monzo , Monese , Starling Bank and Revolut will all help you set up a UK account without requiring proof of residency. Exactly what you’ll need will vary but in some cases, it will only be an email address, phone number and an ID document such as your passport. Note that you will still need a UK address so that your card can be sent to the right place.

The type of account depends on your personal situation, your reasons for being in the UK and how much you’re willing to pay for additional services and add-ons. Students pay limited or no management fees, since their accounts are quite basic. Professional people may require more elaborate account types, like those that allow for joint accounts and access to loan and investment facilities. Here are a few of the account types available to foreigners.

Basic current accounts

This option is an everyday account from which to pay bills, send and receive money, and manage your daily expenses. Compare basic bank accounts here .

Savings account

A savings account pays you interest on the money in the your account: the more you have in this account, the more interest you earn.

Since these funds aren’t intended for everyday use, account holders are usually penalised with loss of interest when withdrawing from this account. Also keep in mind that most savings accounts can’t be opened from overseas, as they require you to have at least a UK residential address.

While there are lots of online money transfer services available for foreigners to send and receive money internationally, there are some advantages to having a local account.

• Immediate access to your money. If you transfer money to your UK bank account before you leave, you’ll be able to withdraw from the account as soon as you land in the UK. You’ll be asked to present positive identification when collecting your bank card.
• Lower fees when using domestic services. Moving or withdrawing money between international and UK accounts incurs high fees, whereas you’d pay low transaction fees when using a local account. These kinds of fees are usually waived for students.
• Professional advantage. If you open an account before leaving for the UK, you can provide a future employer with your banking details straight away, saving yourself time on administration.

The type of bank account you choose will depend on how you like to manage your money and what you’ll be using the account for. Here’s a few of the main things to consider when choosing an account:

• Low fees. Make sure the account charges low or no account fees.
• Branch access. If you’ll be making in-branch transactions (such as depositing foreign cash or cheques), make sure you go for a bank with lots of branches in your local area. Some banks, such as First Direct, Staring and Monzo, are online only, with no branches.
• International transfers . It’s likely that you’ll need to send money back home from time to time, so check what the fees are for transferring money internationally, as well as the exchange rates.
• Hold multiple currencies. Some bank accounts let you hold several foreign currencies in the one account. This could be really handy if you’re going back home regularly and need the local currency there.

Opening a bank account in the UK if you’re an expat is usually a simple process, especially if you’re moving, studying or working here. People in the UK on a tourist visa can open an account by visiting a local branch and providing their passport.

It can be a little trickier to open a UK bank account if you don’t intend to live in the UK. You’ll usually need to speak to a local bank that has international ties with a UK bank.

The type of account you’ll be able to open will depend on your personal situation, your reasons for being in the UK and how much you’re willing to pay for additional services and add-ons. For example, students applying for student accounts won’t usually pay any account management fees, since their accounts are quite basic.

As a major financial centre, the UK’s banking system is broadly open to foreigners looking to open accounts here.

Can I open a bank account without ID?

While it might be possible to open an online bank account without proof of address, you will always need to provide proof of ID. Banks must verify your identity before they can agree to opening an account for you.

Are challenger banks safe?

If you're thinking of opening an account with an online challenger bank, it's worth checking whether they have a full UK banking licence, or whether they are an electronic money institution.

If your chosen provider has a UK banking licence, your money will be protected up to £85,000 by the FSCS. If it's an e-money institution, it must still be regulated by the Financial Conduct Authority (FCA) and protect your money through a process known as safeguarding. This essentially means the provider must separate customer funds from its operational capital.

Do UK banks have foreign-language services?

Most major UK banks have staff who can speak a range of languages. This makes it a lot easier to open a bank account and avoid miscommunications. These banks include, among others: HSBC, Santander, Barclays and Starling.

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• Finder UK banking statistics

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International Money Made Simple

Open a Bank Account in the UK

About Author: Hi, I’m Quinn Askeland. In 2014, I started Transumo after experiencing expensive, slow, and frustrating international money transfers and payments through banks. Once I discovered how to manage my own international currencies much better, I became driven to help others improve their transfers and payments. Fortunately, today, there are many excellent options. See My Full Bio .

Many years ago I struggled to open my own bank account in the UK. While it remains a solid task, in addition to traditional high street banks, you can also consider the convenience of opening a digital account with services like Wise or Revolut and others which can save time, money and frustration.

It can be frustrating opening a UK bank account – usually documents are needed to prove your residency in the UK.

Fortunately:

There are some banks who can make it easier and great online alternatives that can be opened without the need for documents which prove your address. We will show you the minimum requirements for many of traditional “high street” banks.

But there are pros and cons to both options.

First we will explain the difference between traditional high street bank accounts and digital (or neo) banking alternatives. Then we will discuss the documentation needed for the different options and finally the pros and cons of each option.

Let’s dive in.

Disclosure: This post contains affiliate links and savings on transfers if you use some of the links! For more information, see my disclosures here .

Traditional Vs Online Banking (Requirements)

Traditional banks have a wide range of bank accounts and offer lots of other services like loans, mortgages, insurance and wealth management services. Also UK banks have deposit protection through the (FSCA) Financial Services Compensation Scheme which means that even if the bank goes bust, your money is safe up to £85,000.

However these banks are subject to more regulation and as a result they also generally require proof of identity and proof of a UK address to open them. However there are some banks that offer slightly easier ways (we will show you in a moment).

This can be a problem if you are not yet in the UK or have just arrived.

Fortunately you can open a bank-like account  without  proof of a UK address.

These online accounts from companies like Wise, Revolut, Monzo, Starling, Monese and others have limitations but tend to be very user friendly with great apps , multi-currency accounts and international prepaid debit cards .

Most importantly they enable you to to get paid by your employer in British pounds, pay bills and pay others.

Skip down to 4 Best Online Banking of Alternatives Below .

3 Best High Street Bank Accounts (+ How to Open Them)

There are a few expat-friendly banks in the UK including HSBC, Barclays, and Lloyds Banking Group.

These banks offer both free and paid bank accounts and let you manage your account offline (at a branch) and online (website and mobile app). They also offer deposit protection up to £85,000 GBP. 

Every bank has a different sign up process, and a handful of banks also let users open an account from overseas before moving to the UK – more on that in a moment.

1.3 How to get address proof in the UK as a non-resident/expat

UK banks accept the following alternatives as address proof for expats and non-residents:

• Salaried individuals: A letter from the employer confirming an applicant’s address
• International Student: Passport and a letter from the educational institution confirming the applicants acceptance and current address
• Frequent traveler/digital nomad: A letter from a local authority verifying the current address
• Asylum seekers: Application registration card 

The preference may vary from bank to bank and it’s best to ask what you can submit to make the account opening process go smoothly.

1.4 UK bank options

1.4.1 hsbc overseas account (for existing customers).

Account type: Overseas Account

Who is it for? Existing HSBC One, Jade or Premier customer in 30 countries

Monthly fee: £0

International transfers? Yes

Proof of UK residence required? No (but must show probable cause to move to the UK)

If you are not an existing HSBC customer you may find that only Council tax bills are accepted for proof of address.

1.4.2 HSBC for international Students

Account type: UK Current Account for International Students

Who is it for? Students living in the live in the UK, Channel Islands or Isle of Man

Proof of UK residence required? Yes

1.4.3 Barclays International Bank Account

Account type: Global Bank Account (Savings and Current)

Who is it for? Non-residents living in 70 eligible countries

Monthly fee: NA – but must maintain £100,000 balance

Proof of UK residence required? No (but proof of residence in eligible country overseas required)

1.4.4 Barclays Current Account

Account type: Regular and Premier Current Account

Who is it for? Anyone with a UK biometric residence permit

Monthly fee: £4 monthly fee

1.4.5 Lloyd’s Classic or Basic Account

Account type: Current Account 

1.5 International Alternatives

Although a bit of a long shot, over 250 foreign banks operate in the UK and it may be possible to set up a UK bank account if you have a corresponding account in your home country. 

Some of these banks include:

• CitiBank (the US)
• Triodos (the Netherlands)
• Axis Bank (India)
• Emirates NBD Bank (Middle East)

1.6 How to Choose the Best Bank Account

With so many options, it can be hard to zero in on the best UK bank account for you as an expat. To make things easier, consider the following. 

Ease of signup and covers basic needs: If your goal is simply to get established in the UK (get paid and pay others) an online bank-like alternative may be the best way to get started. After you are more established opening a high street bank will be easier and you can benefit by having both.

Specific products and services: Ask yourself how you plan to use the bank account – do you plan to use it only for receiving your salary or expenses? Do you need savings or investment options? Do you want to manage multiple currencies? What kind of debit or credit card do you need?

Costs: Most UK bank accounts are free, but some premium accounts may have monthly or annual fees. If the perks offset the features, sometimes having a paid account can be worthwhile.

User friendliness: Ultimately, the experience you have with the bank will help you can get out of your account. Dig deeper into customer service, flexibility of usage across mediums (offline and online), 24×7 banking, etc.

4 Best Digital Accounts (+ How to Open Them)

New age digital services (also known as challenger banks or neo banks) operate fully online and offer many helpful features that make managing your money easier. 

Opening an account with them is a smooth and fast process and some do not even need a UK proof of address (you will need to provide a valid ID and proof of address from your home country though. 

Most of them have free accounts , but the paid options do come with some cool features, expand the capacity of the account (ATM withdrawal limits, deposit limits, etc.), and help to save money in the long run. 

Here are our tried and tested recommendations:

1. Wise – Best Multi-Currency Account (for frequent travellers and digital nomads)

Wise is not a bank but they offer many banking-like features with their multi-currency account (and they’re a regulated financial institution in the UK by the FCA ). If you’re a frequent traveler, expat or digital nomad, Wise can work really well.

For example, regardless of where you open your Wise account you can get paid like a local through unique UK account details. The Wise debit card (review) is also a winner, enabling you to then spend in British Pounds wherever Visa is accepted (everywhere). Once signed up their App pulls everything together.

The best thing about them is their radical transparency and low fees. Check out Wise Multi Currency Account here .

With Wise, you can hold, manage, and convert between 50+ currencies, use their debit card to withdraw money in the UK (and anywhere in the world), and even get a spending account in GBP which can make you instantly fee like a local.

Account Fees: Free to open and hold an account (other fees applicable)

Interest on savings: No

International transfers: Yes – at very affordable rates in 70+ currencies

Learn more about the Wise Multi-currency Account (review) here.

2. Revolut – Overall best online UK account for new Arrivals (no UK address proof to sign up)

Revolut (founded in 2015) has a EU banking license and offers fully digital checking and savings accounts. But Revolut is not a bank in the UK – yet anyway.

Users love their all-in-one money management features and the fact that they don’t need a UK ID address proof to sign up makes them a go-to option for new expats. (However you do need a mobile phone, which can be tricky in itself)

Click here to  see the options and pricing available in your country   (opens a new tab so you can keep reading).

Note: Revolut and other online banks are great as current accounts because they make day-to-day money management easier. We recommend opening a high street bank account for your savings for higher interest rates and deposit guarantee.

3. Monzo – Best Online Current Account in the UK

Monzo has a UK banking license and offers deposit protection up to £85,000 GBP.

This means you you’ll need a UK mobile phone and a valid ID. They accept:

• Driving licence (your provisional is fine)
• National ID card
• Biometric residency permit 

They will also need a residential address in the UK where they can send your card .

They specialize in digital current accounts with fee-free overdrafts up to £1,000 GBP and loans up to £15,000 GBP. 

The account also comes with a debit card, lets you set up direct deposits for bills, and integrates with both Apple Pay and Google Pay

Account Fees: Monzo Free Monzo Plus (£5/month) Monzo Premium (£15/month)

Learn more about what you get with each tier in our Monzo review

Interest on savings: Yes (AER/Gross fixed)

International transfers: Yes – via Wise

4. Starling – Most cost effective online bank in the UK

Starling is a regulated online bank in the UK that offers fee-free current accounts with overdraft features. 

The account also comes with a debit card, dedicated savings spaces, and the ability to set up direct debits. 

Starling also has the option to get an EUR account as an add on so you can move money between the two accounts easily. 

You will need a UK address proof to open an account , but the application process is completely online. 

Interest on savings: Yes – on balances up to £85,000

International transfers: Yes – to 35+ countries

Note: Revolut and other online banks are great as current accounts because they are often easier to open and make day-to-day money management better. But opening a high street bank account eventually for higher interest rates on savings, deposit guarantee and other financial services like credit cards, loans may be a very good idea.

Types of bank accounts (and why you might want them).

Here are the most common types of bank accounts in the UK.

Current Account (also called a Checking Account in the US): This is the most common type of bank account used for receiving wages and managing everyday expenses like grocery shopping, paying bills, etc. These accounts come with debit cards as well as overdraft facilities. Some banks also offer low-cost current accounts for expat students. 

Savings Account: These accounts are for exactly what the name suggests – building your savings and they come with a variety of investment options and interest rates. Every bank has their own terms and conditions about how they help their users grow their money. For example, you may need to have a certain amount or keep the money in the account for a predefined period before it can start accruing interest. 

Offshore accounts: These savings bank accounts are a great option for expats who have a high net worth. They also come with multi-currency options – usually EUR, GBP, and USD. You can open and operate an offshore UK account whether you live in the UK or overseas. However, these accounts have a high barrier to entry – you need to maintain a balance of £50,000 GBP – £100,000 GBP to get the account. 

Other Types of Bank Accounts in the UK

Basic accounts: These are bank accounts for individuals with low credit score and usually come with limitations like no overdraft or low ATM withdrawal limits. 

Joint accounts: You can also open a bank account jointly with a family member or a partner. 

Apart from high street banks, there are financial institutions in the UK called building societies who provide banking services like savings accounts and mortgages. 

While building societies can sometimes get you a better deal – lower mortgage rates or higher savings rates – they’re not as secure as they used to be and often have a limited choice of accounts (no current accounts).

Documents Needed for Traditional Banks

As licensed financial institutions, banks in the UK (and everywhere!) need current ID and address proof to make sure the accounts can’t be used for illegal purposes like money laundering. 

UK Banks usually accept the following as address proof:

• Utility bills (gas, water, electricity, etc.) – no older than 3-4 months
• Council tax bill 
• Valid UK driving license 
• Tenancy agreement
• Credit card or bank statement (no older than 2-3 months)

Some things to keep in mind:

• All documents for proof of address need to show your full name and current address
• They must be recent
• Council or tax bill can’t have validity of more than 12 months
• Submit separate documents if a bank asks for both ID proof and address proof

We get that most of these can be difficult to get your hands on if you just moved or are planning to move to the UK.

The good news is that there are digital alternatives .

Bottom Line

There are a few good ways to open a UK bank account from overseas or as a new arrival.

We think, if you are a non-resident the easiest way to open an account is through an online bank-like service (not a real bank). For our money, Wise is the best option if you are still overseas because of their ability to get paid like a local (in the UK) before you even arrive. Revolut on the other hand requires to local phone number, but has great app based service and card which can be super handy for travellers.

Ultimately you will likely want to open a real bank account eventually and real banks like HSBC, Barclays and Lloyds have relatively user friendly sign up options (above) which can save you a lot of time and hassle.

Happy Money!

It can take anywhere between a couple days to a week to open a bank account with a high street bank in the UK. 

For online banks, the sign up process is often instant and you can start setting up your account. However the verification process can take up to a week.

Yes – you can get a EUR account when you open an offshore account with a high street bank. Monzo offers a more affordable alternative with their add-on EUR accounts. 

If you’re only traveling to the UK, we recommend checking out Wise. They let you set up local spending accounts in 10 currencies (including GBP) so you can handle your money like a local.

Yes, online banks like Revolut and Monzo make it easy to open a bank account for your business. Wise also has a business option for their multi-currency account. 

These accounts let you receive money from businesses in the UK and abroad with low fees, pay vendors and suppliers overseas, connect with accounting software, etc. 

You can also open a business account with any of the high street banks if your business is local. 

All banks (high street and online) will need your address proof, company registration details, and other documentation to open the account.

If you’re planning to send small amounts below $7000 USD/£4000 GBP/€4500 EU/$9500 CAD/AU, we recommend Wise for their affordable and transparent rates. 

If you’re sending large amounts above $7000 USD/£4000 GBP/€4500 EU/$9500 CAD/AU like your savings or proceeds from a property sale, etc. we recommend OFX (review) , TorFx (review) , or Currencies Direct (review) for their fee structure for large amounts and personalized phone support.

How Do I Open a UK Bank Account from Overseas?

The majority of UK banks require that have proof of a UK address. Fortunately some high street UK banks are making it a bit easier but regulations in the UK can still make it a challenge. In practice though, digital bank-like services can do many things real banks do and at least one offers a way to get paid and pay others and they don’t require proof of a UK address.

What are the Main Differences between Real Banks and Online Accounts?

Digital bank-like accounts are generally very user friendly and have great Apps which make it easy to be paid and pay others. Real banks on the other hand tend to have additional fees but they also pay interest and have more services like credit cards, loans and a deposit guarantee.

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How To Open A UK Bank Account For Non-Residents

Uk bank account for non-residents: why do you need one, do you have to open a bank account as a non-resident in the uk.

• Building societies
• Credit unions
• National Savings and Investment accounts (formerly Post Office Savings accounts)

Why is it more difficult to open a bank account in the UK as a new resident?

What can you do to prepare for opening a bank account in the uk as a non-resident.

• check with your home bank if your debit or credit cards can be used abroad
• make sure that you know the exact costs of transaction fees and currency exchange fees
• double check if your home bank is able to help open a bank account in the UK for you if it has a correspondent banking relationship with a UK bank

Why is it worth opening a bank account in the UK as a non-resident?

• If you’re planning to work in the UK, your future employer will be transferring your salary into a UK bank account.
• It will be easier to rent a property if you can cover the costs from a UK account.
• You’ll be charged currency conversion fees each time you use your debit card or withdraw cash in the UK. Currency exchange rates fluctuate, making it harder to keep to a      budget.
• You will need a local bank account for your bills, such as mobile phone contracts, gym membership and energy bills.
• Last but not least, if you get locked out of your home bank account because you’ve forgotten your PIN code, it will be challenging to deal with it internationally as opposed to a local branch.

Banking in the UK if you’re a non-resident: traditional vs online banks

Types of uk bank accounts.

• Current account – Usually referred to as a ‘checking account’ in the US. This is your day-to-day account, the one your main salary is paid into. Current accounts offer debit cards and, depending on your circumstances, will permit you to go overdrawn up to a set limit. Some of these accounts charge a fee, for which you get benefits in return, like cashback on your spending and/or interest on your balance  when you’re in credit or roadside car insurance.
• Basic banking accounts – these are a type of current account, mainly aimed at people with a low income or with a poor credit rating. As the name suggests, they only offer the basics. You won’t get an overdraft, for example.
• Savings accounts – these come in different types, including regular savings accounts where current account customers get a preferential rate, and ISAs, where interest earned is protected from tax.

Which documents will you need to open a UK bank account as a non-resident?

• Proof of your identity : it can be a passport, driving licence, or national identity card. In general, if you are a foreigner, you most likely will use your passport.
• If you are an international student , you will need to show a valid study visa, a Student ID or a letter of acceptance from your university, and sometimes a bank statement from your home bank.
• Proof of address: This is generally a recent utility bill, rental contract, council tax bill. Mobile phone bills are generally not accepted.

How do you open a UK bank account without proof of address?

How do you get proof of residence in the uk as an expat.

• Utility bills
• Local authority council tax bill for the current council tax year
• Current UK driving license
• Bank, Building Society or Credit Union statement
• Mortgage statement
• Council or housing association rent card or tenancy agreement for the current year
• Solicitors letter within the last three month confirming the property purchase (or the land registry confirmation of address)
• HMRC self-assessment letters
• Electoral Register entry
• NHS Medical card

How do you choose a UK bank account as a non-resident?

• Flexibility – as an expat, if you’re looking for ease of access and 24/7 banking, digital and mobile accounts are well worth considering.
• International scope – if you want an account that will be well-linked to accounts and services overseas, you’ll need to check international and multi-currency account options as well as services such as international money transfers.
• Potential costs – some banks may charge you for withdrawing money. You also might want to check the      commission you pay for exchanging currency.
• Range of products and services – this can range from account-related services such as credit and borrowing      options to other financial services including UK mortgages, insurance in  the UK, and investments.
• Incentives – many banks will try to attract customers by offering incentives such as cash deposits or interest-free periods, so shop around to see what’s available

What is the easiest UK bank account to open for non-residents?

• HSBC Expat Premier account – sterling, USD and euro multi-currency accounts and exclusive foreign exchange rates. But you need a salary of £100,000 or £50,000 in an HSBC bank account.
• Lloyds International account – a choice of sterling, USD or euro and free international money transfers. You’ll need an annual income of £50,000.
• NatWest International Select account – pay in a minimum salary of £40,000 and manage your money on the mobile app.

What else do you need to consider about banking and sending money abroad in the UK as a non-resident?

Can you have a uk bank account if you don’t live in the uk, online banking in the uk: what does it look like.

• Mobile payments, so that you can pay bills, go shopping, and make P2P payments to other mobile users.
• Money management and budgeting tools, including keeping track of loans and investments.
• 24/7 access to your account and instant bank mobile bank statements.
• International money transfers to multi-currency accounts.
• Online support including through social media channels such as Facebook and Twitter
• Enhanced security features

Can a tourist open a bank account in the UK?

What about sending money abroad.

• Paysend – transfer money      online to over 90 countries.
• Wise (formerly TransferWise) – rates based on the      real exchange rate. Receive money for free.
• Western Union – a huge global      network and your choice of sending cash to a bank account, Western Union      agent, or (in some locations) direct to a mobile number.

Can a foreigner open a bank account in the UK?

Is it possible to have a euro bank account in the uk, thinking of moving abroad in 2022.

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How to Open a UK Bank Account from the USA [2024 Guide]

If you want to open a bank account in the UK from the United States, we’ve got the information you need. Whether you’ve just landed in the UK or you’re planning everything ahead of your arrival, opening a bank account in the UK can be a complex process. Although it can be tough to open an account if you’re not a UK resident or citizen, it’s not impossible.

This article will help you understand how to open an account, the documents you need, and guide you through the available options and compare them to less complicated solutions, such as Wise or Revolut . Online specialists like this can help you open an account in GBP – even as a non-resident – which is often cheaper, more flexible and entirely online. But more on that later, read on.

Go to Wise Go to Revolut

Quick Summary: UK bank account for US residents

• US citizens can open a bank account in the UK, but will need to provide some documents like personal identification and, in some cases, proof of UK address or income.
• Specialist digital providers like Wise and Revolut offer online multi-currency accounts for US residents with various features and low international transfer fees.
• Major UK banks like HSBC and Lloyds also cater to US citizens, offering a range of accounts for international clients.
• Various types of bank accounts are available, including current accounts for daily transactions and savings accounts with interest.

Can a US citizen open a bank account in the UK?

Yes, US citizen’s can open either a bank account with a UK bank or an account with a specialist provider. However, non-residents will need to provide identification, such as a passport or drivers’ license alongside other possible requested documents, like proof of address.

Some banks might require you to visit a branch in person to open an account, whereas with specialist providers like Wise and Revolut , you can do it all online.

How to open a bank account in the UK as a US resident

Opening a UK bank account as a foreigner is possible, but it can be a complicated process and you’ll need to provide proof of identity and a UK residential address. Most banks might also require an in-person visit at one of their branches, making it difficult for those who haven’t yet landed in the UK. You’re more likely to be successful opening an account online with specialists, like Wise or Revolut .

While it is possible for an American to get access to their own UK bank account, it can also be difficult. You have a few different options:

• Several UK banks offer specialist, international accounts. Unfortunately, these accounts often have very high initial deposit requirements, and you will probably need to pay a high monthly fee and pay in a lot of money each month to keep using them.
• Some US banks have “reciprocal relationships” with banks in the UK. This means they can effectively “vouch” for you, which will improve the chances of a UK bank opening your account. Some US banks may even have a UK presence.
• If you’re planning to be a resident in the UK, you can visit a UK bank when you arrive, and providing you have a valid address document and a valid identity document, you can open an account.
• You can open an online bank account from specialist providers like Wise or Revolut.

Go to Wise Go to Revolut Whether you’re an international student or another non-resident of the UK, we’ll guide you on how to open an account for all of your UK banking needs.

There are also typically more requirements for foreigners opening a UK account than locals. These often include:

• A visa or residence permit: Depending on your residency status, you may need to provide evidence of your right to reside in the UK.
• Additional documents: It’s important to remember that each bank has their own set of rules and regulations, and some banks might require additional documents, like evidence of study or employment in the UK.

Which account is best in the UK for foreigners?

It can be complicated to open a UK account if you’re not located there, but online accounts can offer a convenient work-around. Here is a quick summary of 4 providers we’ll look at in this guide:

Go to Wise Go to Revolut As you can see from the table, all four options allow foreign customers to open an account online before they arrive in the UK. HSBC and Lloyds bank provide online account opening services as long as customers are able to provide the required documents:

• Proof of ID
• Proof of address
• Current employment, income or tax details

While you’ll also need to provide proof of ID with Wise and Revolut, the process is slightly simpler as your employment and income documents won’t be required to open one of their multi currency accounts.

Additionally, while all options offer standard current accounts with no opening or monthly maintenance fees, Revolut does have paid tier plans which provide more features than their free Standard plan.

Wise GBP account (formerly TransferWise)

Wise is a popular currency exchange and international money transfer service, providing mid-market exchange rates and low fees for sending money around the world. Their multi-currency account is a flexible and convenient solution for opening a bank account in the UK from the US.

Here is how Wise account works:

• The Wise account is a multi currency account that lets you hold money in more than 40 currencies, including USD and GBP.
• You can receive money conveniently like a local in AUD, CAD, EUR, GBP, HUF, NZD, RON, SGD, TRY and USD currencies.
• Receiving GBP payments is free. There’s a 4.14 USD fixed fee to receive USD wire transfers, but ACH payments are free.
• You get local account details for each of those currencies, which effectively means you have a UK bank account with its own sort code and account number.
• You also get a linked Wise card , so you can spend money from the account internationally in 150+ countries.
• There’s a Wise app that tells you how much is in your account at all times, and you can set-up transfers easily.
• You can also use your Wise to send money to over 160 countries or in 50+ currencies.

Fees for the Wise account

There are no minimum account amounts, no monthly fees and no maintenance fees on the multi-currency account. The Wise fees you’ll pay are:

• Low fees when converting between currencies, starting from 0.43%
• It’s free to make 2 ATM withdrawals, up to the value of $100 every month – you’ll pay 2% + 1.50 USD per withdrawal for ATM withdrawals beyond that

The amount charged for converting between USD and GBP is as follows:

• USD to GBP: A fixed fee of 4.18 USD if you’re converting $1,000
• GBP to USD: A fixed fee of 0.26 GBP if you’re converting £1,000

How to open a GBP account with Wise

Open a Wise account in GBP easily and quickly by following these steps:

• Register online: Register with Wise, either online or via the Wise app to open your account. Just click the Register button and enter your email address or sign up using your Google, Facebook or Apple account.
• Verify your identity: Verify your identity by uploading a picture of your ID alongside a selfie. Wise will provide on-screen prompts to guide you through each step and the process can be completed online or using your phone.
• Open your currency balance: Once your account has been verified, you can set up your GBP currency balance. To do this, log into your account, click ‘Open a balance,’ and select GBP.
• Your account will opened and be ready to use instantly.

Revolut Account

Revolut accounts have been available to personal customers in the UK since 2015.

5 different personal Revolut account plans are available:

• The Standard plan doesn’t have a monthly fee.
• Plus for GBP 3.99/month
• Premium for GBP 7.99/month
• Metal for GBP 14.99/month
• Ultra for GBP 45/month

Paid plans allow you to access additional features and benefits including no-fee ATM withdrawals, preferential customer service, premium physical cards and disposable virtual cards. Revolut business accounts, and junior accounts for children are also available.

With Revolut, you can hold over 25 currencies in the same account and manage your money using an app. Revolut users can send money internationally with no fees, except on weekends, and sending between Revolut accounts is instant. There are also handy budgeting features to help you save, a reward and cashback program and options to buy, sell and trade crypto currencies and commodities.

Go to Revolut

Fees for Revolut account

Here are some of the fees you’ll come across when you have a Revolut account.

• A monthly 2.99 GBP for the Plus plan, 6.99 GBP for the Premium plan and 12.99 GBP for the metal plan.
• Up to 5 no-fee ATM withdrawals or £200 per rolling month and then a 2% fee applies.
• No currency conversion fees
• Exchange limits: Standard Plan – A limit of 1,000 GBP per month and then a 1% fair usage fee.

Plus Plan – A limit of 3,000 GBP per month and then a 0.5% fair usage fee.

Premium, Metal and Ultra Plans – No exchange limit or fair usage fee.

How to open an account with Revolut

You can open a Revolut account online in minutes. Simply:

• Download the app and enter your phone number where you will create a 4 digit passcode
• Enter a six digit code you receive via text message.
• Enter your personal information
• Verify your identity

You’re then top up your account, and start using it. To open a currency account in addition to your GBP account just go to the home screen and click on the arrow next to your current balance. You can then select ‘+ New’ where you’ll be able to choose your currency.

HSBC account

HSBC offers accessible UK accounts for US citizens relocating to the UK, with no monthly fees on their standard HSBC Bank Account. Here are some key features and fees:

• ATM withdrawal limit: 300 GBP per day
• Foreign card usage fee: 2.75% plus a 2% fee for cash withdrawals outside the UK (minimum 1.75 GBP and maximum 5 GBP).
• Those with an HSBC debit card will receive exclusive access to Home&Away offers from various retailers.

How to open a UK bank account with HSBC

Setting up an account with HSBC is straightforward and can be done from most locations abroad, provided that you have the required documents. You can either apply online or visit an HSBC branch in person. Here’s how to get started:

• Apply online or visit a branch: Apply online if you need to have a UK account up and running before you arrive in the UK or visit a branch for in-person assistance.
• Provide the required documents: You’ll need to provide proof of ID (passport or driving license), proof of address (utility or phone bill) and details of your current employment, income and tax.
• Account activation: Once your application has been processed and approved, you can start managing your finances through HSBC’s mobile app or online banking platform.

HSBC also offers a digital Global Money Account that allows you to hold money in different currencies, including US dollars, with no HSBC fees.

Lloyds account

Lloyds Bank offers a range of current accounts with varying features which are also accessible to foreigners who want to live and work in the UK. Some features include:

• International payments: Send money internationally in over 30 currencies and make payments in Euros for free. For other currencies there’s a fee of 9.50 GBP.
• Classic Account: This account offers free everyday banking with no monthly maintenance fees and comes with a contactless debit card and overdraft facility.
• ATM limits (Classic account): ATM withdrawal limits amount to 800 GBP per day with the classic account
• Payment limits (Classic account): Maximum daily limit of 5,000 GBP per day.

How to open an account with Lloyds

As a US citizen, you can also apply for an account online or by visiting their nearest local branch; however, you’ll need to make an appointment first. To open an account with Lloyds, you need to be 18 or over and a UK resident and can still apply even if you aren’t currently employed or have an income.

When you make your application, you’ll also need to provide personal details such as

• Date of birth
• Nationality
• Marital status
• Address history
• Contact information
• Income details
• Employment status
• Outgoings (bills, rent, mortgages, etc.)

To open a Lloyds account online, you’ll need one of the following:

• A Biometric Residence Permit
• A current UK photo driving license
• A UK passport

If these aren’t available, you’ll need to bring two documents to the branch as proof of identity and address.

What do I need to know before opening a bank account in the UK?

Opening a bank account in the UK requires a few key documents. First, you’ll need to make sure that you have valid identification, like a passport, driver’s license, or national ID card to prove who you are. You’ll also need proof of a UK address, which can be a recent utility bill or bank statement. It’s important to note that these requirements are the same whether you choose to open your account online or visit a bank branch.

If you’re under 18, you may face some restrictions as most UK banks require customers to be at least 18 years old. For non-UK citizens and residents, such as international students or workers, there are specific accounts available, but these vary between banks.

While some banks may allow you to apply online, most banks will require you to come to a branch in person. When doing so, it’s advisable to schedule an appointment and bring along the necessary documents. Be aware that some banks may have requirements like maintaining a minimum balance or making regular deposits.

Different banks have their own set of rules and services, so it’s wise to do some research or contact the bank directly to understand exactly what you’ll need. This is especially beneficial if you’re new to the UK or if you’re looking for more flexible banking options, as some banks cater specifically to these needs.

Benefits of opening a bank account in the UK

Opening a UK bank account provides various benefits, especially for those living, working or studying in the country. A UK bank account will significantly simplify all of your financial transactions, providing you with a safe place to manage your money. Key benefits include:

• Access to financial services: Having a UK bank account gives you access to a range of services like overdrafts, loans, credit facilities and more. This might be crucial when managing unexpected expenses or when making bigger purchases like buying a home.
• Ease of transactions: Without a UK bank account, handling daily financial activities like shopping, paying a bill or receiving a salary are much more difficult.
• Building your credit history: Using a UK bank account responsibly will help you to build up a credit history in the country, which is important if you want to apply for future lines of credit.
• Security: UK banks are regulated and deposits are protected by the Financial Services Compensation Scheme (FSCS) up to £85,000 per person, offering a high level of security for your funds and peace of mind that your money is safe.

Can I open a bank account in the UK before arrival?

It’s tricky to open a bank account in the UK prior to arriving in the country. That’s because most banks need you to be able to show a UK issued proof of address.

If you want to get ahead of the game and get your GBP bank account set up before you arrive, you’ll probably be better off with a specialist service like Wise or Revolut .

Can I open a UK bank account online?

Yes, you can open a bank account online in the UK, even before you arrive. However, it could be difficult as not all banks offer this for foreigners who are not yet living in the UK and banks typically require proof of address as well as other documents and sometimes even in-person verification.

Online specialist providers like Wise and Revolut make a great, flexible alternative, making it significantly easier for non-residents to set up a GBP bank account remotely from the US. These online platforms have been specially designed to cater to the needs of international customers, offering a quick and simple application process that can be completed anywhere from abroad.

How to open a bank account in the UK from US online

Opening a bank account in the UK from the US online is a relatively simple and straightforward process, allowing you to set up an account remotely without the need to visit a physical branch.

• Choose your provider: Select a UK bank that offers online account opening for foreign residents like HSBC or Lloyds , or digital providers like Revolut and Wise .
• Fill out an application form or register online: Depending on your chosen bank or provider, you’ll need to complete an online application form with your personal details.
• Verify your identity: You’ll need to verify your identity by providing your passport or driver’s license. It’s important to note that some banks may also require additional documents, like proof of address. Depending on your bank, you might also need to complete some additional verification steps.
• Wait for approval: Once you’ve submitted your application and have verified your identity, your provider will review it. The process can take a few days to a week, or within 24 hours for most online specialists, and you’ll be notified once your account is approved.
• Set up online banking: Once your account is open you can now set up online banking to manage your account and finances.

How long does it take to open a bank account in UK

Exact timelines for opening a bank in the UK will depend on your specific bank or specialist provider. While the process can take a few days and even sometimes up to a few weeks, the majority of standard bank accounts can be opened within 1-2 days.

How much does it cost to open a bank account in the UK?

Opening a UK bank account with both banks and online specialist providers, is generally free of charge, especially when it comes to basic current accounts.Wise and Revolut, for example, offer the convenience of opening an account at no initial cost and with no monthly maintenance fees, making them a good choice for those who need flexibility alongside international services.

However, it’s important to mention that bank accounts may have maintenance fees, which will vary depending on the type of account and services required. While opening a current account is generally free, premium accounts that come with added benefits like credit card options or higher interest rates, usually come with monthly or annual fees.

In addition, certain services within your chosen account may incur extra costs, such as sending money abroad, making transactions in foreign currencies, withdrawing money from ATMs or using an overdraft facility which usually involve interest charges.

Is it possible to open a fee-free account in the UK?

Most major UK banks provide basic current accounts with no ongoing services fees. They are designed to provide essential banking services without a monthly fee, although some transactional fees may still apply for specific services like international transactions or overdrafts.

Digital providers like Wise or Revolut also offer fee-free account options with a wide range of features, often at lower costs, minimizing fees typically associated with banks.

What are the additional costs?

While opening a bank account in the UK might be free, there are various additional fees and charges that you’ll most likely come across. These will vary depending on the bank and the type of account that you have, but these are some of the most common:

• Maintenance fees: Some banks will charge a monthly or annual fee to maintain your account. These can range anywhere from 5 to 10 GBP but it can be higher for more premium and specialist accounts.
• Withdrawal fees: Charges may apply for withdrawing money abroad or ATMs that aren’t in your chosen bank’s network.
• Interest charges: Using lines of credits like loans or overdraft facilities will usually come with interest charges, especially if you exceed your agreed-upon overdraft limit.
• Transaction costs: You could be charged for making various transactions like making bank transfers or international payments.
• Cash and cheque fees: Some banks charge a fee for depositing cash or cheques into your account.
• International transfers: Sending or receiving money internationally will usually involve additional fees, which will vary between providers.
• Transaction limits: Some banks will have a limit on the number of transactions you can make within a month, charging a fee if this is exceeded.

Requirements for US citizens to open a bank account in the UK

Typically, most UK banks require someone to be a resident in the United Kingdom when they set up their account. Alternatively, major UK banks will point you to their international and offshore banking options. These account types are usually available for foreigners and non-residents, but they come with restrictive conditions, and, often, high fees.

What documents do you need to open a bank account in the UK?

To open a bank account with a UK bank, you’ll need to provide proof of identity and proof of address. This usually means you’ll need the following:

• Proof of identity – a valid passport, national identity card or driver’s license for example
• Proof of UK residential address – a bank or credit card statement, utility bill or tax return in your name

Choosing these documents is often the easiest way for the bank to comply with UK legislation designed to stop fraud, money laundering and illegal account use. It helps keep accounts and customers safe – but it’s not always easy to provide this paperwork as a non-resident or a new arrival in the UK.

Luckily, some specialist providers and expat services are more flexible in checking customer identity, making it far easier for non-residents to get a UK account legally.

Can I open a bank account in the UK only with my passport?

To open a bank account in the UK, you’ll generally need to provide proof of address alongside proof of identity, such as a passport or national ID card.

What are the types of bank accounts in the UK

In the UK, bank accounts can be placed into two categories – for residents and non-residents.

For those who don’t live in the UK but need to carry out financial activities within the country, accounts like HSBC’s Expat Account will make managing your finances while in the UK simpler, while offering safe and convenient services.

The most common accounts on offer are:

• Current account: A current account is the most common type of bank account, used for day-to-day financial transactions like shopping, setting up direct debits to pay bills, etc. They usually come with a debit card and have an overdraft facility subject to approval.
• Savings account: Designed for saving money over a period of time, a savings account will usually offer interest on your balance.
• Student account: Tailored for those in higher education, a student account typically comes with special offers or benefits like interest-free overdrafts.
• Business account: Designed for business owners, business accounts are specifically designed for business transactions, helping entrepreneurs to manage their finances and run their businesses.

International and Offshore banking accounts

One expensive way that you can open up an account from the US is to create an international account with a major UK bank. Unfortunately, this will be out of reach for most US citizens for several reasons:

• You’ll typically need to make a large initial deposit
• You’ll need to deposit a sizeable amount of money into the account each month
• You’ll need to earn a significant salary
• You’ll need to pay a monthly maintenance fee to keep the account open

What is a bank account in the UK needed for?

When living in the UK, having a bank account is essential for daily financial activities, such as:

• Receiving your salary: Those employed in the UK typically have their salaries paid directly into a bank account.
• Paying rent and bills: A UK bank account lets you set up direct debits to pay your monthly mortgage or rent as well as all of your other regular payments like utilities and council tax.
• Shopping: A UK bank account usually comes with a debit card, meaning you can make secure and convenient everyday transactions like shopping in stores and online.

Reciprocal relationships between US and UK banks

It’s possible that the bank you hold an account with in the US has a relationship with a bank in the UK, which may allow you to open an account there. We recommend contacting your bank in the US directly and enquiring with them about opening a UK account. They may be able to recommend a correspondent bank, or they may even have a branch in the UK where you can access your US account or set up a new bank account.

In many cases, though, opening a bank account through a reciprocal bank is likely to be difficult and complex.

US banks with UK branches

With the number of people traveling and moving abroad on the up, there’s also been an increase in the number of American banks establishing a significant presence in the UK, offering financial services that US citizens can find at home. While the following isn’t a complete list, notable US banks that can be find in the United Kingdom include:

• Citibank: Part of the large Citibank Group, the UK branch focuses on wealth management solutions and offers products like the Citigold International Citi Debit Card, catering to customers who need to maintain funds in US dollars while living and working in the UK.
• Morgan Stanley Bank International: While Morgan Stanely doesn’t offer banking services in the UK, it does have a presence, providing other products like investment strategy and financial advisory services.
• Chase: Chase, a major US financial institution, is also in the UK banking market offering current and savings accounts.
• Northern Trust – Northern Trust has had a presence in the UK since 1969, with the London office being their regional headquarters for Europe. The finance specialist mainly provides asset and wealth management services to corporations and high-networth individuals.

British banks in the USA

British banks also have a presence in the US, providing various financial services that cater towards British and global customers, from personal banking to business banking solutions and wealth management. Here are just some of the major British international banks you can expect to find in the US:

HSBC – One of the world’s largest banks, HSBC has been operating in the US since 1865, allowing US customers to take advantage of its international footprint. From savings to checking accounts, commercial and global banking and more, HSBC has 22 branches and offices around the country.

Barclays – Barclays is another major British bank with a notable presence in the US. While they don’t have any physical branches, they collaborate with 25 companies to provide a range of consumer and small business credit card programs as well as digital personal finance services.

Lloyds – Lloyds bank mainly operates through its commercial business banking sector in the US, focusing on business and corporate banking services.

Visit a UK bank with the right documentation to open an account

While you can’t do this when you’re in the US, we want to make you aware of all your options. If you’re going to be resident in the UK, you can open a bank account shortly after arriving there. Most of the big banks in the UK have accounts for new arrivals, and you’ll have plenty of choice.

• Barclays provides a wide range of current (checking) accounts with good offers for students.
• Lloyds has a large banking network and a “Classic” current account suitable for basic banking needs.
• HSBC provides basic, student, and premier bank accounts.
• Both RBS and Natwest provide accounts for most needs.

How much does it cost to open a non-resident bank account in the UK?

We’ve covered how major UK banks are likely to send non-resident customers in the direction of offshore banking services – and how expensive that can be. For many international and offshore bank accounts, you’ll find yourself with high minimum deposit rates and higher-than-expected fees – although you could also benefit from perks like wealth management advice and personalized services. These products do have a market – but it’s mainly among high-wealth individuals who want the extra services – and the status – that an offshore account can provide.

If you’re looking for a non-resident bank account option that doesn’t come with hefty fees and can offer greater flexibility around currencies, online specialist services may suit you better. We’ve got a couple of top picks coming right up.

The best bank for US citizens wanting to open an account in the UK

As a US citizen, the best UK bank will all depend on your specific personal needs and requirements. For some, major high street banks such as HSBC and Lloyds will cover all of their personal banking needs, while digital providers like Wise and Revolut may be best for those with multi-currency needs or who need to open an account quickly before their arrival in the UK.

Go to Wise Go to Revolut For more information, you can check out our guides: Best GBP accounts in the US and Best GBP cards .

How to open a business bank account in the UK

Most UK banks will offer business accounts to entrepreneurs and business owners with UK-registered businesses. To open a business account in the UK, you’ll need to provide business registration information and a suite of paperwork about the owners and anyone holding a significant share.

Different banks have different processes for arranging business bank accounts, so you’ll want to compare a few and check out the options before you get started. Alternatively, look at flexible digital alternatives like Wise and Revolut , which offer business services with low costs and multi-currency functionalities.

Learn more: Wise business account & Revolut business account

You can also check out our guide on Best Online Business Accounts

UK bank accounts for expats

While there aren’t many, the UK does offer bank accounts specifically for expats, such as HSBC’s non-resident account, designed for people who either haven’t yet moved to the UK or who want to maintain financial links in the country.

Online specialist providers like Wise and Revolut also offer multi-currency accounts, which are particularly beneficial for expats dealing with different currencies.

Wise : Wise lets you open an account online from abroad, letting you hold and manage money in over 40 currencies with low and transparent fees – perfect for US expats needing to manage their finances in the UK and across different countries.

Revolut : Revolut also provides a multi-currency account that supports over 25 currencies and can be opened online with multiple tiered monthly plans with various features for international money transfers at favorable rates.

Monzo: Monzo is a regulated mobile-only UK bank account with no monthly fees or fees for card use in the UK and abroad. However, you’ll need to already be living in the UK and be able to provide a UK address to qualify for an account.

Monese: Monese also offers a borderless foreign currency account in GBP, EUR or RON, allowing you to transfer money around to various locations world-wide. It also requires less documents to get set up in comparison to other providers as it doesn’t request proof of address, making it more accessible for foreign nationals needing a bank account in the UK.

Tips for sending money between the US and the UK

Sending money between the US and the UK doesn’t have to be complicated or expensive if you simply follow a few practical tips.

Compare exchange rates offered by various providers to ensure that you’re getting the best deal for your money and consider using financial platforms like Wise or Revolut, which often offer better rates and lower fees than banks.

Checking transaction times is also important, especially if you need to send your money across fast. Most standard bank services take around 3-5 business days, while some other providers, such as online specialists, offer instant or next day delivery services.

Conclusion: Which account is best for non-residents?

There’s no legal barrier to non-residents and new arrivals in the UK opening a bank account. However, non-resident accounts with high street banks tend to be tricky to open, expensive and inflexible.

For many customers, choosing a specialist online service like Wise or Revolut will offer a better overall deal, including a more straightforward verification process, lower fees, and better exchange rates.

How to open a UK bank account as a foreigner FAQs

Can a foreigner open an account in the uk.

Yes. You can open a UK account as a foreigner or non-resident. However, non-UK residents will find it harder to open an account with a high street bank, and may find it easier to get set up with a specialist online provider like Wise or Revolut.

How much do I need to open a bank account in the UK?

You can often open a bank account for free in the UK, although some banks do ask for a minimum deposit amount to start with. Compare a few providers to get the best deal for your needs.

Yes. You can open a UK bank account online if you have proof of a UK address. If you don’t have this, you may be better off with a specialist online provider, like Wise or Revolut, which allows you to open your account on your laptop or mobile device, with a more flexible verification process.

What is the best UK bank account for non-residents?

Many major UK banks offer international and offshore banking services which are aimed at high wealth individuals. If that’s not what you’re looking for, your best bet might be to open a UK bank account for non-residents online with a specialist provider like Wise or Revolut.

Why can’t I open a bank account in the UK?

There’s no legal reason why you can’t open a bank account in the UK as a non-resident or foreigner. However, because of financial laws aimed to stop fraud, it can be tricky to get an account if you don’t have proof of UK residence yet. In this case, check out online specialist multi-currency account providers which typically have a more flexible approach to account opening processes.

Can I open a bank account in the UK without a job?

Yes. You can open a bank account in the UK without needing to prove you have a job. However, some specialist accounts may require you to deposit regularly, through a salary, benefits, pension or other income. Check the account terms and conditions to help you find the right one for you.

Can I have a UK bank account without a UK address?

You are unlikely to be able to get a regular bank account in the UK without showing a UK proof of residential address, like a utility bill in your name. However, online specialist multi-currency accounts, like Wise and Revolut, are available which accept proof of address from your home country – meaning you can apply online before you move to the UK, and use your US proof of address to get your account up and running.

Can I set up a UK bank account from abroad?

Most UK banks will need to see a proof of UK residence to allow you to open an account – so while online opening is an option, it may not be possible if you’re not already a UK resident. Look at specialist services like Wise and Revolut instead.

How to apply for a bank account online in the UK?

Apply for a bank account in the UK by choosing a bank, or specialist online provider like Wise, that meets all your required needs. Visit the bank’s website and fill out the application form with your requested details, or visit a physical branch in person, and verify your identity by providing the required documents, like a passport or driver’s license.

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New to the uk.

Looking to open a UK bank account as a non-resident? Apply for an HSBC new-to-UK bank account from outside the UK and take full control of your finances before you arrive. 

Banking in the UK

Who can open a bank account in the uk .

You can apply for an HSBC Bank Account if you:

• are 18 or older
• are happy for us to do a credit check against your name (if you live in the UK)
• can provide ID and proof of address (other eligibility criteria may also apply)

How do I open a bank account in the UK?  

The easiest way to open a bank account is to apply online. If you need support, you can also visit one of our branches and we’ll help you with your application. 

If you have a smartphone or tablet, please bring it with you if you're visiting a branch in person.

What do I need to open a bank account in the UK? 

To open an account, you'll need:

• your current employment, income, and tax details
• proof of ID, such as your passport or driving license
• proof of address, such as utility or phone bill 

For more information, visit our page on what you need to open a UK bank account .

Can I set up a UK bank account from abroad? 

You can set up an HSBC UK bank account from many locations abroad. Once you've chosen your preferred account, use the apply button to find out if you might be eligible.

Why open an HSBC account in the UK

Convenient ways to bank

24/7 access to your account using mobile, online, automated phone banking and a debit card.

No monthly account fee

We don't charge you a fee just for keeping your account with us.

Enjoy discounts and offers

HSBC debit card holders can access offers with a number of retailers with our home&Away offers programme.

Bank wherever you are

Manage all your HSBC accounts around the world from anywhere with our mobile app and online banking.

Choose the new-to-UK bank account that's right for you

HSBC Premier Account

HSBC’s premier banking service, recognised globally and created for your constantly changing world.

Plus, if you have HSBC accounts in other countries or regions, you can manage them all online and make fee-free transfers between them in minutes.

ATM withdrawal limit

GBP1,000 per day

Fee for using your card outside the UK

Eligibility

To be eligible, you’ll need to meet and maintain one of the following criteria:

• be an existing HSBC Premier customer in another country; or
• have savings or investments of at least GBP50,000 with HSBC UK (within 6 months of opening your account); or
• have an individual annual income of at least GBP75,000 and one of the following with HSBC UK: a mortgage, an investment, life insurance or a protection product (to be held within 6 months of account opening)

You may be required to provide ID and proof of address if needed.

You may not be eligible for some account features if you remain resident outside the UK.

HSBC Advance Account

Get everything you need from everyday banking and lots more.

GBP500 per day

2.75% plus a 2% fee (minimum GBP1.75, maximum GBP5) when withdrawing cash

HSBC Bank Account

Easily manage your everyday finances and activate your life in the UK.

HSBC customers with an HSBC debit card can access home&Away offers with a number of retailers.

GBP300 per day

Moving to the UK

You might also be interested in.

Living in the UK  

Moving to the UK Guide  

How does banking work in the UK?  

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• UK Bank Accounts For Non-Residents

Opening a UK Bank Account for Non-Residents: The 2024 Guide

• Published: 11 January 2024
• 13 min read
• Starting a Company

Gabi Bellairs-Lombard

Business Writer

Gabi is a content writer who is passionate about creating content that inspires. Her work history lies in writing compelling website copy, now specialising in product marketing copy. Gabi's priority when writing content is ensuring that the words make an impact on the readers. For Osome, she is the voice of our products and features. You'll find her making complex business finance and accounting topics easy to understand for entrepreneurs and small business owners.

Embarking on the journey of establishing yourself in a new country brings new opportunities and challenges. One of the most vital tasks many need to complete in their new venture is setting up a bank account for UK non-residents. For non-residents in the UK, understanding the banking system and navigating the process of opening a bank account is an important step in establishing financial stability in your new home. This guide aims to demystify and simplify the process, providing clear insights into the requirements, procedures, and potential challenges you might encounter while opening an account for non-residents in the UK. Let’s dive in!

Key Takeaways

• Non-residents of the UK can open a bank account by providing necessary documents and meeting certain requirements.
• Having a local account offers numerous benefits, such as simplified financial oversight, lowered currency conversion charges and higher interest rates.
• Non-residents can avail financial protection up to £85k per person with easy online access to funds. Tax implications must be considered.

Understanding Non-Resident Status

A non-resident in the UK refers to anyone residing in a country other than their origin. This includes both temporary and permanent residents in a country different from their birthplace. Non-residents can open various types of accounts in the UK, including a savings account. If you’re wondering whether it’s possible for non-residents to open a traditional bank account in the UK, the answer is yes, subject to meeting certain requirements.

Non-residents should keep their tax responsibilities in mind as they can open an account. It’s advisable to seek advice from a professional tax adviser to ascertain any potential tax liabilities, especially when opening a business bank account .

However, opening a bank account in the UK as a non-resident comes with its own set of hurdles. One of the major challenges non-residents face is providing proof of address. Banks retain the discretion to refuse account opening, so understanding the fundamentals of the UK banking system is crucial. One way to overcome this challenge is by providing a bank statement from another bank as proof of address.

Requirements for Non-Resident UK Bank Accounts

Grasping the requirements and eligibility criteria is a vital step in the process of opening a non-resident UK bank account. To do this, non-residents must provide a passport or driving licence for identity verification, along with proof of address. Some banks may even require a photograph. Additionally, some banks offer multi-currency accounts for non-residents.

Several UK banks that extend their services to non-residents include:

These banks may offer Euro bank account options, including current accounts with added benefits such as international money transfers and multi-currency account options.

Though the process of opening a bank account may seem intimidating, it can be relatively simple if you come prepared. Whether you choose to open a UK bank account online or in person, it’s important to have all the required documents ready. Remember, the requirements may vary from one bank to another, so it’s advisable to do your research or consult with the bank directly to ensure you’ve got everything needed to open your account. Here are some common documents you may need:

• Proof of identification (e.g. passport, driver’s license)
• Proof of address (e.g. utility bill, bank statement)
• Social Security number or Tax Identification Number
• Employment or income information
• Initial deposit amount

By having these documents ready, you can easily streamline the process and open your account.

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The Advantages of Having a Local Bank Account in the UK

Having a local UK account as a non-resident brings many benefits. These benefits range from simplified financial oversight to lowered currency conversion charges . Furthermore, non-residents can consider opening post office savings accounts as an alternative.

Various reasons might prompt a non-resident to consider opening a UK account. It can facilitate payments for expenses such as rent, mortgage, and utility bills. It’s also useful for receiving payments from UK clients or businesses. If you plan to invest in UK stocks or manage finances locally while studying or working temporarily in the UK, having a UK account can be advantageous. Some banks may even offer Euro bank accounts for non-residents.

Additionally, non-residents may benefit more from a UK saving and investment accounts because of the higher interest rates available . On top of that, several UK bank accounts are provided free of charge. Certain banks even have promotional offers, like offering up to £250 for switching to them or providing packaged accounts with benefits like a mobile phone or travel insurance.

Step-by-Step: Opening Your UK Bank Account Remotely

With the advent of the digital era, the ability to open a bank account remotely has emerged as a handy alternative. Non-residents can open a bank account online with banks accepting them as clients. Online services such as Monzo and Revolut provide assistance to non-residents in the process of opening a UK account. These services offer flexibility and are less emphatic on providing proof of address.

The process of opening a UK bank account remotely involves selecting an appropriate bank according to your needs, providing evidence of identity and residency, collecting essential documentation, and submitting an application either through online channels or in person. Specific requirements include demonstrating identity and residency and the details about your income.

Virtual banks like Monzo and Revolut extend services to non-UK residents, providing a UK account number, sort code, and debit card for in-store and online transactions. This simplifies the procedures for individuals without UK address documentation. However, remember that establishing a virtual banking account typically requires approximately 3 to 4 weeks to complete .

Documents Needed To Open an Account

A multitude of documents need to be provided by non-residents when opening a financial account in the UK. Essential identification documents such as a passport or another valid form of ID are typically required.

In addition to identity verification, non-residents seeking to open a bank account in the UK are required to provide proof of income and proof of address . However, for non-EU/EFTA residents, there may be additional requirements, such as the need to provide visa details.

Accepted forms of proof of address for verifying identity with UK banks include:

• Utility bills
• Bank statements from other banks
• Tax documents
• A driver’s license
• Other ID cards

It’s important to note that these requirements can vary between banks, so it’s advisable to check with the specific bank for their list of acceptable documents.

Common Challenges for Non-Residents

A variety of challenges may be faced by non-residents when trying to open a UK bank account. These include :

• Limited availability
• Proof of address requirements
• Documentation requirements
• Potential rejection by banks

Fortunately, there are strategies that non-residents can utilise to navigate these banking restrictions. These include:

• Thorough research on banks that accommodate non-residents
• Ensuring they have all required documentation
• Exploring the option of opening an account remotely
• Considering international banks
• Seeking support from specialised services.

Banks in the UK provide alternative services such as building societies, credit unions, and National Savings to assist non-residents facing difficulties. Additionally, banks like Revolut, Monese, and Monzo offer the option for non-residents to open a UK bank-like account without traditional proof of address, although the approval to open an account is not assured.

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Business Banking Solutions for Non-UK Residents

Provided they have an existing account with the central bank, non-UK residents are also allowed to open business bank accounts . Services such as Barclays International Bank cater specifically to businesses seeking to operate outside UK financial regulations and do not have UK resident directors or signatories.

Business bank accounts fulfil essential spending and transaction requirements for non-residents and may also provide billing, accounting, and tax assistance services. Furthermore, non-resident directors can use virtual bank accounts for efficient tax payments and dividend receipts.

In order to open a business bank account in the UK, non-UK residents typically need to provide a list of essential documents, such as ID and proof of address. Some banks, such as Lloyds, may require the director or signatory to visit a local branch to submit these personal legal documents.

The Role of Proof of Address

Providing proof of address is a crucial prerequisite when opening a bank account in the UK. It allows banks to:

• Verify the current residential address of the account holder
• Minimise fraud
• Ensure the security of the banking system
• Pass a credit check to manage banking products.

Proof of address can come in various forms. British banks typically recognise the following as valid forms of proof of address for non-residents:

• Council tax bills
• UK driving licence
• Bank statements

However, providing proof of address can come with its own set of challenges. Non-residents may encounter difficulties obtaining satisfactory proof of address, facing potential issues with their residency status in the UK, and being confronted with the mandatory UK address requirement for bank account opening.

Bank Account Types Available to Non-Residents

A range of banking account options is accessible to non-residents in the UK. Most banks provide a range of choices to accommodate diverse banking requirements.

One such option is opening a current account . These accounts are typically utilised for various daily spending needs, including:

• Debit card transactions
• Bill payments
• ATM withdrawals and deposits
• Receiving salary or wages

Another option includes basic bank accounts . Designed specifically for individuals with limited financial resources or a less-than-ideal credit history, basic bank account provides essential services without:

• Overdraft facilities

Basic accounts are available to non-residents, and many banks offer them.

Choosing a Bank

The selection of the right bank plays a key role in the process of opening a UK savings account. Non-residents should consider the following factors when choosing a bank :

• Whether the bank provides a non-resident account
• The associated monthly fees
• The account’s features
• Whether the bank operates a physical branch or is solely online-based
• The customer service feedback for the bank

Some recommended options for non-residents seeking to open a bank account include Lloyds Bank and Barclays International. The top-rated UK banks for non-residents are Barclays, Lloyds Bank, Halifax, and Starling Bank. Each bank offers its own unique set of services. For instance, Lloyds Bank provides international money transfer services, such as international bank or savings accounts, for non-residents. On the other hand, Barclays International offers various services, including mortgages, investments, foreign currency savings accounts, and other banking services.

Financial Protection for Non-Residents

Financial protection is a crucial aspect to consider when opening a bank account in the UK. The Financial Services Compensation Scheme (FSCS) is a statutory fund in the UK that offers compensation to customers of authorised financial services firms in case of their failure.

The FSCS provides protection for non-resident UK bank accounts up to a maximum limit of £85,000 per person. This protection extends to individual accounts and maintains the same coverage for each person in the case of a joint account.

In addition to the FSCS, the accounts are safeguarded by the UK Payment Services Regulations 2017, providing supplementary protections for banking operations.

How To Manage and Access Your Bank Account

With the help of online and mobile banking services, managing and accessing a UK account as a non-resident is now more convenient than ever before. Options such as Revolut, Monese, and Monzo provide app-based online banking and expat accounts, allowing non-UK residents to avail financial services such as merchant services and international money transfers without requiring proof of address.

Even when overseas, non-residents can efficiently oversee their accounts, providing them with the flexibility to monitor and manage their finances without the necessity of being physically located in the UK.

When it comes to withdrawing funds, non-residents have several options. These include:

• Transferring funds into the account
• Utilising ATM withdrawals
• Conducting online transfers
• Visiting a bank branch

However, providing valid proof of identity is important and considering potential tax implications related to earned interest is important.

The Impact of Banking Choices on Credit and Transactions

The credit scores of non-residents can be greatly influenced by their banking choices. Accumulating debts and failing to repay them can negatively affect their credit score. Furthermore, opening several bank accounts in a short period can also be detrimental. It’s crucial for non-residents to responsibly manage their debts and ensure timely repayments to establish and sustain a favourable credit score in the UK.

Choosing a particular UK bank can influence the ability of non-residents to build a credit history in the UK. While credit history does not transfer when moving abroad, the obligation for any outstanding debts remains. Lenders may find it difficult to evaluate creditworthiness without a UK credit history. Nevertheless, opening a UK bank account is a crucial initial step in creating a credit footprint in the country.

The type of account chosen can also significantly influence transaction fees. Utilising a non-UK account for transactions can result in elevated charges, as UK banks commonly apply approximately 3% for foreign transactions. Fees may also arise from international withdrawals and purchases conducted outside the UK, underscoring the significance of choosing the suitable type to mitigate transaction expenses.

Alternatives to Traditional Bank Accounts

Non-residents have options beyond traditional banking. Digital banks and online payment services provide a more flexible solution for those who may face difficulties when trying to open a UK bank account. Leading digital banks offer services to non-residents in the UK:

• Starling Bank

They provide a convenient and easy-to-use platform for managing finances.

Digital banks offer reduced fees, increased interest rates, and convenience. However, a potential drawback is that digital banks may not provide the extensive banking services available in traditional banks. Nonetheless, they offer a viable alternative for non-residents who may have difficulties opening a traditional bank account.

In conclusion, opening a UK bank account as a non-resident is possible and can offer a range of benefits. From simplifying financial management to facilitating transactions, a UK money account can provide non-residents with the tools they need to navigate their financial journey in the UK. The process may involve challenges, but these can be overcome with the right information, preparation, and guidance.

Whether you’re looking to open a traditional or business bank account or explore alternatives such as digital banking, options are available. Remember, the key to a successful banking experience in the UK is understanding your needs, doing your research, and making informed decisions. With this guide, you’re well on your way to financial stability in your new home.

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Can a non-resident have a UK bank account?

Yes, it is possible for non-residents to open a bank account. However, certain documents, such as a passport, driver's license, and proof of address, like three months' worth of utility payments, will be requested. The exact requirements may vary depending on the bank's products.

Can I open a bank account in the UK without an address?

Although a UK address is usually required to open a bank account, special accounts are available for non-residents and those without a fixed address. Major banks such as HSBC offer expat accounts, which are designed specifically for this purpose and can even be applied for online.

Are UK banks closing accounts of non-residents?

Banking policies can change, and checking with individual banks or official sources for the most up-to-date information is advisable.

Banks may have different policies and requirements for account holders, and various factors, including regulatory developments and economic conditions, can influence changes. If you are a non-resident with an account with a UK bank or are considering opening one, it's best to contact the bank directly or visit their official website to obtain the latest information on their account policies and requirements for non-residents.

Additionally, financial regulations and banking practices can vary, so staying informed about any changes that may impact your banking relationship is important.

What are the challenges non-residents may face when opening a UK bank account?

Non-residents may face challenges such as stringent identification requirements, limited banking options, potential language barriers, and varying eligibility criteria set by individual banks. Additionally, some banks may require proof of a UK address or impose higher monthly fees for non-resident accounts. Checking with specific banks for their current policies and requirements is advisable.

What are the documents required to open a bank account?

To open a new bank account in the UK, non-residents must provide a valid form of ID, proof of income, and proof of address.

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An Expat’s Guide: how to open a bank account in the UK

Welcome to the UK! Wherever you’re from, the article aims to guide you through the steps of opening a UK bank account.

So, you’ve just landed in the UK ? Between packing, finding a place to live and starting your new job or studies, we know you’ve got plenty to think about. Luckily, opening a bank account doesn’t have to be one of them.

With the right bank, opening your first UK account can be “easy peasy” (as they say over here.) To find out how, just follow our guide.

How do I open a UK bank account?

As long as you have proof of your identity, you should be able to open a bank account in the UK fairly easily. Banks over here will often refer to a bank account for day-to-day transactions as a “current account”. The first step is to choose your bank and look online to see which types of current account they offer.

The UK has a long history associated with banking, so there’s plenty of options to choose from. Along with the traditional banks with branches that you can see walking down any main road, you can also choose a digital alternative that lets you do the whole account opening process online.

The ‘traditional way’ to open a bank account is to walk into a branch with your ID, stand in line for an appointment and then an employee will manually open the account for you. Of course, an even easier way is to open a mobile bank account, like N26, directly from to your smartphone. All it takes it downloading the app and following a few steps and you’ll have a full UK current account in minutes – especially handy if you’ve still got loads of boxes to unpack.

The bank account that gives you more control

Can I open a UK bank account online?

Yes, you can. If you have the right documentation, you’ll find numerous banks and app that will let you open a current account online. There’s generally a security step, such as a video call for identity verification.

N26 is one bank that lets you do the whole process from your phone , without any paperwork. All you need is your ID and a smartphone to download the app, and you can open an account in minutes.

What documents do I need to open a bank account in the UK?

So, you’ve chosen your bank. What do you need to open your current account? Well, different banks have slightly different rules, but it’s common for them to ask for two types of documents:

• Proof of identification (Your ID)
• Proof of address

For ID, a passport or national identity card should generally be fine. Providing a proof of address can be a little harder for new arrivals in the country – which we outline below.

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What can be used as proof of address?

Proof of address usually needs to be something like a recent utilities bill or rental contract with your address printed on it – basically, an official document that proves where you live. Some banks have various options for new arrivals in the country – for instance, they’ll accept official documentation from a university, if you’re going to be studying here.

The exact forms of valid proof of address accepted varies from bank to bank: you should check the list of documents that your chosen bank allows.

Do I need a UK address for a UK bank account?

Generally speaking, you need to be officially resident in the UK in order to open a UK bank account, but you don’t have to be a UK citizen. If you haven’t moved there yet, you might not be able to get very far.

How long does it take to open a bank account in the UK?

Again, different banks offer different levels of service. Often, it depends on how quickly they can verify your information. Typically, it shouldn’t take more than a week to open your account, but bear in mind that if you might need to wait for the bank to send you your bank card and PIN number in the post (often posted separately for security reasons).

With N26, once you’ve verified your identity by photo or video call , your account will be ready to use instantly. Your Mastercard will, of course, still need to be posted to you, but you can start using your account’s features in the app straight away.

The best UK bank accounts for expats

If you’re moving to the UK, you’ll probably want to save as much energy as you can when to subjects like banking, so that you can concentrate on the bigger things– such as where to live, your studies, your job and so on. Getting a bank account might seem like a hassle, but hopefully with the help of this guide and digital banking, it doesn’t have to be.

To take the stress out of expat living, our series on all things relocation, An Expats’ Guide, aims to help you land as smoothly as possible in your new life in the UK. Each week, we’ll be breaking down the mysteries around getting life on track in the UK.

Relevant links

• N26 Standard (new tab)
• N26 Smart (new tab)
• N26 You (new tab)
• N26 Metal (new tab)
• N26 Business Standard (new tab)
• N26 Business Smart (new tab)
• N26 Business You account (new tab)
• N26 Business Metal (new tab)

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How to Open a Bank Account in the UK: A Full Guide 2024

If you’re an expat planning your relocation – or even if you’ve moved to the UK already – you might be wondering how best to get a UK bank account to hold and spend in British pounds (GBP).

While it’s possible to get a British bank account before you get to the UK it can be expensive and complex to get set up with a mainstream bank. This guide runs through the options for GBP accounts for a non-UK resident, including the documents you need and the likely costs. Because traditional banks aren’t always the best option we’ll also introduce some more user friendly solutions, such as Wise or Revolut . Let’s dive right in.

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What documents do I need?

UK banks need to complete KYC (Know Your Customer) verification checks – much like banks all around the world. That means most British banks will ask customers for  the following:

• Proof of identity – a valid passport, national identity card or driver’s licence for example
• Proof of UK residential address – a bank or credit card statement, utility bill or tax return in your name

KYC checks are designed to stop fraud, money laundering and illegal account use. However, if you don’t have a UK proof of address yet it can make it harder to get your GBP account set up with a regular British bank.

Some specialist providers and expat services from major UK banks are able to help non-residents to legally get a UK account, by accepting a broader range of documents for verification checks. Expat banking services often target high wealth individuals, and have high minimum balance requirements. Specialist online services may be more flexible – more on that coming right up.

Save the paperwork with alternative solutions like Wise or Revolut

UK banks usually require customers to provide a proof of residence document showing a local UK address. That can make it tricky if you’re not a resident yet – or even if you’ve just moved to the country and don’t yet have bills and household paperwork in your name.

Specialist services like Wise or Revolut can help. These alternatives to regular banks have been built with international customers in mind, and can accept a proof of address from the UK or a range of other countries. Verification is done by uploading images of your paperwork online or in the provider app. Just use your proof of address from your country of residence, to open a Wise or Revolut account online, and open up a GBP balance.

Once you’re all set up you can receive, hold, and spend GBP easily before you even arrive in the UK – a perfect solution for expats, non-residents and digital nomads who want to hit the ground running.

Go to Wise Go to Revolut

How to open a bank account in the UK

The standard requirements to open a bank account with a highstreet bank in the UK include:

• Proof of identity
• Proof of UK residential address
• A completed application with all your personal details
• Opening deposit – there may be a minimum deposit requirement

If you have all of these documents already you’ll find it relatively easy to open a UK bank account. Some banks let you upload your paperwork online, but others prefer you to visit a branch to hand over your documents in person.

The tricky bit often comes if you don’t have a proof of UK address. Opening an account with a proof of address from overseas is perfectly legal, but because it’s harder for the bank to verify, many regular banks just don’t allow it. Instead, major UK banks may refer you to their expat division, which is set up to offer accounts to non-residents. However, the accounts on offer are often packaged as exclusive options for high wealth individuals – and typically come with high fees.

If you’re not getting what you need from a regular UK bank it might be time to look at alternatives – more on that later.

Open a FREE multi currency account

Can I open a bank account in the UK before arrival?

To open a bank account in the UK prior to arriving in the country you’ll need to find a provider which will let you use an international proof of address for KYC purposes. That may mean picking:

• An account from a British highstreet bank’s expat services division
• Accounts from digital only banks which operate in the UK
• A specialist provider which offers multi-currency accounts

As we mentioned, expat banking services can be pricey. Digital banks are an option, and some – like Monese – do let you get an account to handle GBP with a non-UK address. However , restrictions can still apply – Monese needs a residential address from the UK or the European Economic Area for example, which isn’t much use if you’re still in Australia.

If you want to get ahead of the game and get your GBP bank account set up before you arrive you’ll probably be better off with a specialist service designed for international use –  like Wise or Revolut .

What do I need to know before opening a bank account in the UK?

To open a UK bank account you’ll usually be asked to prove your ID and your UK address, and you may also need to provide documents showing you’ve got the legal right to reside in the UK if you’re asked. Check with your preferred bank to see if you can open an account online or through an app – while this is usually available to UK residents with standard paperwork, it may not be an option if you don’t have UK issued documents.

It’s also helpful to check if the account you’ve picked needs a minimum opening deposit amount. In this case you’ll have to take along cash to deposit, or make a bank transfer to your new account, to activate it.

Can I open a bank account in the UK only with my passport?

You’re unlikely to be able to open a UK bank account with just a passport. Opening an account with a UK bank usually means you need to be a UK resident – and you’ll often be asked to provide a proof of address to back this up.

Which account is best in the UK for foreigners?

Let’s walk through the features and fees for some UK and GBP accounts you can open, to hold or spend in British pounds. We’ve compared a couple of non bank providers – Wise and Revolut – against the options from popular UK banks Barclays and HSBC. Barclays’ international division can’t help people living in Australia to open a UK account so you’ll need to wait until you arrive – but HSBC does have expat accounts you can open to hold GBP from Australia.

As a non-resident or new arrival to the UK  you do have a decent selection of options when it comes to getting a GBP account. Digital providers offering multi-currency functionality are flexible if you travel, send, spend or receive in a range of currencies.

Expat accounts may appeal if you want a more personal service or need to access a fuller suite of options including overdrafts, investments and credit.

Wise serves 11 million+ customers and offers both low cost international payments, and personal and business multi-currency accounts. The Wise multi-currency account is a good option for non-UK residents and new arrivals looking to manage their money across GBP and 50+ other currencies.

You can get up and running with an international proof of address and manage your account online or in the Wise app. All currency exchange uses the mid-market exchange rate with no markup, and you’ll be able to get paid like a local from 30+ countries with your own bank details, including a UK bank account number and an Australian account number and BSB code. You can also send payments to 80+ countries and spend using your Wise international debit card all over the world.

Account types: Wise personal multi-currency accounts are free to open, with no minimum balance or monthly fees to pay.

Eligibility: Available to non-UK residents and new arrivals in the UK. Not all services and features are available in all locations – full details by location available on the Wise website .

Is it safe? Wise is fully FCA regulated in the UK and overseen by global bodies around the world.

How to open an account with Wise

To open a Wise account:

• Download the Wise app or open the Wise desktop site
• Click Sign up and create an account with your email, Facebook, Google or Apple ID
• Follow the prompts to enter the details needed
• Upload a snap of your ID and address documents
• Once your account has been verified you’re good to go

Revolut accounts have multi-currency functionality for 30 fiat currencies including GBP, a linked debit card for spending and withdrawals, and extra perks like budgeting and saving tools. Revolut customers can provide a proof of address from Australia, the UK or any of the other regions they operate in – making this a provider to look at if you want to set up your account before you head off to Britain.

Standard Revolut plans come with no monthly fees and an array of features including some fee free currency exchange. Or you can upgrade to a different account tier, where you’ll pay a monthly fee to get higher levels of fee free transactions and extra benefits.

Account types: Personal and business accounts available. Standard plans are free for both personal and business customers. Or you can upgrade to a paid plan for up to £12.99/month as a personal customer or £100/month as a business customer.

Eligibility: Available to new UK arrivals and non-UK residents with addresses in the EEA, Australia, Singapore, Switzerland, Japan, and the US[9].

Is it safe? In the UK Revolut is authorised by the FCA for all its activities. It also holds a European banking licence for the EU.

How to open an account with Revolut

To open an account with Revolut:

• Download the Revolut app
• Enter your phone number and set a PIN – you’ll get a verification message from Revolut
• Use the verification code to access the app and enter the details needed to create your account
• Upload the required documents for verification
• You can deposit funds and use your account once verified

Barclays International

Barclays can’t offer international accounts to people based in Australia, but if you’ve already arrived in the UK and hold a biometric residence permit you’ll be able to get started applying for an account in the Barclays app. You’ll be asked to upload documents and provide 3 years of address details but once your account is verified you can use it right away.

For the standard Barclays current account there’s no monthly fee and you can apply for an optional overdraft if you want one. Or check out the range of other accounts to find the best one to suit your specific needs.

Account types: Broad range of different UK bank accounts, plus mortgages, loans, credit cards and more

Eligibility: UK citizens or residents, aged over 18 can apply using the Barclays app

Is it safe? Yes. Barclays is a reputable and fully licensed UK bank

How to open an account with Barclays

To open an account with Barclays:

• Open the Barclays website or app
• Find the account you’re interested in and tap Apply
• You’ll be prompted to upload your ID documents and take a video selfie for verification

The HSBC Expat division is based offshore, and offers accounts and services for high wealth individuals and people who live and work internationally.

HSBC Expat current accounts are offered in GBP. USD and EUR, with savings accounts available in 19 currencies. However, fairly high minimum balance requirements apply which can be a barrier. To qualify for an HSBC Expat account you’ll need to maintain a minimum balance of £50,000 for an HSBC Premier account or £15,000 for the HSBC Advance.

It’s usually fairly easy to open an HSBC UK account upon arrival if you already have a relationship with the HSBC Expat service.

Account types: Current accounts can hold GBP, EUR and USD, but savings accounts are available in 19 global currencies.

Eligibility: Accounts come with minimum balance requirements of £15,000 to £50,000.

Is it safe? HSBC is one of the largest banks in the UK and a major global brand, fully regulated in the UK and around the world.

How to open an account with HSBC Expat

To open an account with HSBC Expat:

• Visit the HSBC Expat website and tap Check eligibility and apply
• Confirm you’re eligible for the account and have the paperwork needed
• Enter your personal information, following the prompts

What is a bank account in the UK needed for?

Having a GBP account can be helpful in lots of different scenarios:

• If you’re planning to travel to the UK, or if you’re moving to the UK to live or work
• If you like to shop online, and pay in GBP with UK based retailers
• If you want to convert funds to GBP for investing or to diversify your savings 
• If you need to send GBP payments to others – such as paying for travel or an overseas mortgage
• If you need to receive GBP payments, as a freelancer or when working for a UK employer for example

Benefits of opening a bank account in the UK

Not sure if you need a UK bank account? Here are a few benefits you can expect:

• Cut down the costs of converting dollars to pounds 
• Avoid foreign transaction fees when spending in GBP
• Receive GBP payments and hold your funds in dollars
• Send money to others in the UK with lower overall costs

Can I open a bank account online

As a foreigner, you may struggle to open a UK bank account online unless you already have proof of your UK address and a biometric residence permit. However, the good news is that there are other, non-bank, alternatives, like Wise and Revolut which can help you open an account to hold GBP. 

With providers like Wise and Revolut you can apply from Australia, using your local ID and proof of address, to open a digital multi-currency account and card, which you can then use to hold, send and spend in pounds conveniently.

How long does it take to open a bank account in the UK

The amount of time it takes to open a UK bank account will depend on the provider you pick and the way you apply. Your account will need to be verified before use – which can often be done instantly, particularly if you’re applying in a branch or with a provider that offers video verification. However, for some banks, the verification process may take a day or two – or longer if you’ve got non-standard documents which need additional checks.

What are the types of bank accounts in the UK

If you’re opening a UK bank account from Australia you may be offered a non-resident or expat account, which is designed for individuals who don’t live in the UK at the time of applying. Non-resident accounts can come with limitations compared to regular bank accounts, and may also have higher fees – double check the options available to you before you choose.

If you’re eligible for a UK resident account, your options are likely to include a current account or a savings account. It’s useful to know that the account options, features and fees in the UK can be quite different to those you’ll find in Australia, so you’ll need to read over all the details carefully. 

How much does it cost to open a bank account in the UK?

It’s usually free to open a bank account in the UK. However, if you’re choosing a premium tier account, or opening an account as an expat before you arrive in the UK, the chances are that you’ll need to make a pretty high initial deposit. If you don’t, fall below fees will apply which can mount up quickly.  Keep an eye out for the following costs when selecting the GBP account for you:

• Monthly maintenance fees – or fall below fees
• International payment fees
• Foreign transaction fees when spending or withdrawing with your card
• Overdraft fees
• Credit card costs including cash advances and interest
• Cheque book and cheque cashing fees
• Account dormancy or early closure fees

If you’d rather an account which has no monthly fees without these eligibility requirements, you may want to take a look at alternative GBP account providers like Wise or Revolut , which both offer account plans which come without maintenance fees and with no minimum deposit required.

Is it possible to open a fee-free account in the UK?

Most UK banks have accounts which don’t charge monthly fees. However, that doesn’t mean they’re free to use as transaction and service charges will almost always apply when you use your account.

If you’re looking for a low fee account option to hold and spend GBP, it’s worth checking out providers which have accounts with no maintenance costs, no minimum balance requirements, and low service fees which you’ll only need to pay for the services you use.

Tips for transferring money between Australia and the UK

Using your normal bank isn’t always the cheapest, fastest or most convenient option to send international payments. Instead, a specialist service may help you save money on both the fees and the exchange rate markups applied. Here are a few things to watch out for:

• Compare the exchange rate you’re offered against the mid-market exchange rate to see if a markup is being used
• Check the fees for different transfer types – arranging your transfer online is usually cheaper than doing so in a bank branch
• Ask about third party charges which can push up the overall costs significantly

Before you send money overseas, compare your own bank with a few specialist services to see if you can save.

If you’re already in the UK with a local address – and the paperwork to prove it – opening your bank account should be a breeze. Unfortunately though non-resident accounts with traditional UK banks tend to be tricky to open, expensive and inflexible.

If you want a GBP account because you’re a frequent visitor to the UK, a non-resident sending and receiving GBP payments, or a digital nomad getting paid from the UK,  a specialist online service like Wise or Revolut may well be a better bet. Specialist alternatives will usually offer a better overall deal compared to non-resident accounts from big UK banks, including a more straightforward verification process, lower fees and better exchange rates.

• How to open a bank account in Australia
• Opening a bank account in Singapore
• Opening a bank account in the US
• Opening a bank account in India

FAQ – How to Open a Bank Account in the UK

Can a foreigner open an account in the uk.

You can open a UK account as a foreigner – but the process is much easier if you’re a resident of the UK with a valid proof of address. If you don’t have this paperwork available you may find it easier to get an account with a specialist online provider instead of a regular UK highstreet bank.

How much do I need to open a bank account in the UK?

Many UK banks allow customers to open accounts for free, but non-resident accounts from expat banking services will often have a minimum deposit requirement you’ll need to know about. Compare a few providers to get the best deal for your needs.

Can I open a UK bank account online?

If you have proof of a UK address you’ll probably be able to get your GBP account online through a traditional bank. If not you may be better off with a specialist online provider which allows you to open your account on your laptop or mobile device, with an international proof of address.

How to apply for a bank account online in the UK?

You can open a bank account online in the UK if you choose an expat account with a high minimum  balance, or if you’re already a UK resident with a biometric residence card. If you don’t have these documents or funds to hand, you may want to look at specialist non-bank alternatives like Wise and Revolut which offer digital accounts you can open from home, which can hold and exchange Australian dollars alongside pounds.

Can I open a bank account in the UK before landing?

If you want to get all set up before you even arrive in the UK you can easily open an online GBP account from a specialist service like Wise or Revolut, to hold and manage multiple currencies all in one account.

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This article was updated by the Great British Mag content team on 21 September 2021

As an international student one of the most important things you will need to sort out is opening a UK bank account.   This can sometimes be a lengthy and complicated process so here are the things you will need to understand to get this off your “to do list” fast!

Why can’t I continue using my bank account from home?

You can use your bank account from home but you will face some limitations and extra costs because all your purchases will be seen as international transactions. You will also not be able to get your salary paid into that account if you choose to work part time, and you will not be able to set up things like direct debits if you take out a phone contract in the UK.

However, your bank may have an international arm or a partnership with a UK bank, so its worth asking your current bank what options are open to you.

Why should I open a UK bank account?

There are many benefits to opening a UK bank account, including:

• You won’t be charged currency conversion fees every time you withdraw money
• You’ll be issued with a debit card, which you can use everywhere instead of cash
• You can withdraw money 24/7 from any ATM machine in the UK
• You’ll be able to set up direct debits and standing orders
• You can register for telephone and internet banking
• If you need help – for example, if you forget your PIN – it will be far easier to sort things out with a local bank
• If you work part-time your employer will probably want to pay your wages into a UK bank account
• A bank statement is commonly accepted as proof of address

Do UK banks offer accounts specifically for international students?

Yes, some banks do offer accounts especially designed for the needs of international students. For example, you can open an account without having a credit rating in the UK, but these accounts normally come with a monthly operating fee and few perks. Furthermore, you cannot open the account until you arrive in the UK and they can take a couple of weeks to arrange.

Can I receive money from home into my UK account?

Yes, you can but you need to be aware of a couple of things. Firstly, it can take several days to get money into your account and secondly you will be charged a fee at both ends of the transaction which can often be much higher than using a money transfer service   which is a better way of bringing money into the UK.

Therefore, when choosing a bank account – find out specifically what the charges are to send and receive money internationally and what other costs you will incur.

Can I get a debit card and current account without opening a bank account?

Yes you can by opting for an online banking service, such as CardOneMoney . And there are several other banking providers to choose from. 

The benefits of these bank providers include:

• You can open the account in minutes before you arrive in the UK
• You will be issued with a contactless debit card within 2-5 days of your arrival in the UK and it will be posted to you
• The account is a simple current account that allows you to deposit money, use ATMs and make purchases, set up direct debits and standing orders.

How do I open a UK bank account?

Remember, the exact documents required may vary from bank to bank so look on their website or read anything you have been sent before you visit the branch to open the account.

In most cases you will need the following paperwork and its worth taking duplicate copies.

• Your passport
• Your student visa
• Proof of address – a letter from your university’s admissions office confirming your address, or your tenancy agreement are the best things to take
• A letter from your university/college/school called ‘Letter of Introduction for UK Banking Facilities’ to show your UK study details

Do any UK banks observe Sharia law?

Many banks in the UK offer accounts that are run according to Sharia principles. Check your preferred bank’s website to find out if they offer this service.

What can you do via online and telephone banking?

All UK banks offer telephone and online banking which will allow you to check your balance, print off bank statements, transfer money, set-up direct debits and standing debits, report your card lost or stolen and get your questions answered.

You may also want to read:

UK banking terms explained

Review of best bank accounts for international students

How to apply for a National Insurance Number

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How to open a u.s. bank account for non-residents.

Every year, thousands of people from every corner of the globe migrate to the United States. Many of them arrive here as international students attracted by top-notch educational opportunities, while others arrive for work.

Having a checking account can be a way to build a solid foundation for your financial life in the U.S. Some non-residents sometimes believe they're ineligible to open a bank account in this country. Fortunately, that isn’t true. Many financial institutions offer U.S. bank accounts for non-residents. However, there may be a little bit of additional paperwork involved. Let’s find out more.

Potential benefits of opening a bank account in the U.S.

There are a number of potential benefits that come with having a local account while you’re in the United States. These include:

Receiving payments directly

Having a U.S. bank account allows you to take advantage of direct deposit . This way, your paychecks can be automatically delivered directly to your account.

Paying bills

Having a local bank account makes paying bills a much smoother process. You can use your account to pay online or by check instead of having to use money orders or other services that may have additional fees.

Accessing debit cards and ATMs

Opening a U.S. bank account typically features debit cards with access to a network of ATMs . This lets you access your funds and make everyday transactions while avoiding possible fees associated with transactions using a foreign bank account.

Building a financial history

Opening an account at a bank or credit union begins a history between you and that financial institution. If you plan to apply for any financing from a U.S. financial institution in the future, this ongoing relationship may improve your chances of approval.

What do you need to open a bank account?

Document requirements may vary from bank to bank. When opening a bank account in the U.S., non-residents may need to provide identification, proof of address and possibly an opening deposit. Contact your bank to confirm what documentation is needed. Here are some items that you may need to open an account:

Identification

You’ll need to provide official, government-issued photo identification. Many of these requirements may be familiar to U.S. citizens as well. Some financial institutions may require more than one form of ID to verify your identity, particularly for non-residents. Acceptable documents may include:

• Driver’s license with photo
• Matricula Consular Card
• Passport with photo
• Student ID with photo
• U.S. Employment Authorization Card with photo

Proof of address

Proof of U.S. address must be provided in the form of a document that shows both your name and address to ensure you’re associated with the property. This can include:

• Employer's pay stub or paycheck
• Letter with name and address
• Utility bills dated 60 days or sooner

Opening deposit

Financial institutions may require an opening deposit to activate your account. The minimum required will likely vary from one financial institution to the next. A few examples of opening deposit sources are:

• Automated Clearing House (ACH) electronic fund transfer

Requirements can vary from bank to bank and may be subject to change. It’s good practice to check with your prospective financial institution for the most up-to-date information regarding what you need to open a bank account.

Can an immigrant open a bank account without a Social Security number?

Since many account types bear interest, which is a form of taxable income, some U.S. banks require customers to provide their Social Security number (SSN). This facilitates tax reporting to the IRS.

Non-residents who don’t have a Social Security number can apply for an Individual Taxpayer Identification Number (ITIN) instead. This may be used as a substitute for an SSN on your bank account application if one is required by the bank.

SSN vs. ITIN: What’s the difference?

Although both SSNs and ITINs are used for tax reporting, they’re issued by different agencies and have different benefits. An SSN is issued by the Social Security Administration to citizens and authorized non-citizens. It typically denotes authorization to work in the United States (though not always). An SSN also provides access to public assistance benefits such as unemployment or disability income.

ITINs are issued by the IRS to non-residents — anyone who isn’t eligible to receive an SSN. An ITIN is not a work authorization, but it can be used in place of an SSN for filing taxes while residing in the United States.

A note for international students

International students typically arrive in the U.S. under visa designations that don’t authorize them to work. However, they may be able to get a job through their university or by practical training programs. In this case, the university may help them apply for a Social Security number.

Other students, however, may also need to file tax returns in the U.S. due to alternative forms of taxable income. If this applies to you, you’ll likely need to apply for an Individual Taxpayer Identification Number (ITIN).

Alternative options

If you find yourself unable to qualify for a U.S. bank account for non-residents, you may not be entirely out of options. There are some other forms of banking for immigrants. These include:

Using an international bank

Some banks are international, meaning they have a presence in your home country as well as the United States. Using a bank like this means you can open an account back home and likely still have access to it while in America.

Using a correspondent account

Sometimes, a bank from your home country might have an existing partnership with a bank in the United States. These banks may be able to leverage that relationship to help you open an account in the U.S.

The process to open a U.S. bank account for non-residents may require a little extra time and effort, but there can be significant advantages to doing so. When you open a bank account in the United States, it allows you to access your funds, utilize debit and ATM services and accept payments while building financial history.

Not a customer yet?

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How to Open a Joint Bank Account

Joint bank accounts aren't just for couples; they're useful for anyone sharing expenses. It's impor

Joint bank accounts aren't just for couples; they're useful for anyone sharing expenses. It's important to weigh up the pros and cons of the many different offers out there before taking the plunge.

Communicating clearly with your banking buddy is also important, so you’re definitely on the same page regarding goals and priorities.

Here’s all you need to know before opening a joint bank account.

Who Can Open a Joint Account?

Opening a joint account is an option that’s certainly not confined to wedded couples sorting out their housekeeping funds.

According to research by Legal & General , while 32% of UK couples living together opt to mingle their finances in one, a notable 68% do not, highlighting that this financial move isn’t everyone’s cup of tea.

The diversity of those who do choose this path is broad – from unwed partners and mates splitting the rent to parents with adult children and people in caregiving arrangements.

Figure 1: UK cohabiting couples with joint bank accounts

Source: Research findings from Legal & General Group

What Documents Do We Need?

• All applicants must be over 18 and residents in the UK or EU. For identification, each person will need to present either a passport, driver’s licence, or EU identity card.
• Proof of address can be provided through a utility bill, council tax bill, or mortgage statement/rent agreement.
• Some banks may request additional financial documentation , such as a payslip, bank statement, or tax return.
• The bank will likely run a credit check using agencies such as TransUnion, Equifax, or Experian, and you may wish to review your credit score in advance, though this could incur a small fee.

Who Offers the Best Joint Accounts?

Once you've compiled the necessary documents to open a joint account, you'll need to choose a bank for you and your partner. The wide array of choices can seem daunting. However, there's no need for concern.

At CompareBanks, we have meticulously assessed and rated the top 10 joint accounts available to UK customers . (Spoiler alert: it was a three-way tie between Starling Bank , Cashplus Bank and Revolut .)

Our ranking was produced by evaluating key aspects such as customer service, budgeting tools, savings options, fee structures, credit-building features, ease of use, additional perks, international functionality, overdraft provisions and eligibility criteria. We continually review the data so the list remains up to date.

Of course, what is the “best” bank hinges on your specific circumstances and preferences, so carefully consider the pros and cons we've detailed for each bank to identify the one that best meets your needs.

Table 1: CompareBanks’ pros and cons list for joint bank accounts

How Long Does It Take?

Applying for a bank account online typically takes about 10 to 20 minutes, during which you'll need to answer questions and upload necessary documents. Decision times can vary, with many banks offering immediate decisions, while others may take up to a few days, particularly for new customers.

For instance, HSBC and Barclays often provide quick access post-approval, whereas NatWest might require up to 10 working days for new clients, with immediate access for existing ones.

If you’re in a rush, you might want to check out our analysis of the fastest banks to set up a current or business account with.

Communication is Key: How to Manage a Joint Account

Linking your financial lives with a joint account is a big step and great for shared goals, but remember, an overdraft caused by one of you becomes a shared headache. In addition, your hard-earned money that you deposit in a joint account can be splurged in a second by your partner.

When setting up the account, chat about what you'll each put in and agree on what it should cover – maybe keep those personal treats like a £30 lipstick or a £40-a-month sports TV subscription out of this pot if you’re not comfortable with having to explain them to your banking buddy.

Regular catch-ups can help you both keep tabs on where the money's going and make sure no one's caught off guard. And about those debts? Decide together whether you're tackling them as a team or keeping them individual – after all, transparency and teamwork make the financial dream work!

Our Conclusion

Joint bank accounts are not a one-size-fits-all solution, but with the right approach, they can offer significant benefits for managing shared financial commitments.

Whether it's Starling Bank's customer service excellence or Revolut's multi-currency flexibility, the best account depends on your unique needs and circumstances.

It's essential to discuss openly what you both expect from the account, from contribution amounts to transaction privacy for those occasional indulgences or subscriptions.

With clear communication , mutual understanding, and regular financial check-ins, a joint account can be a powerful tool for achieving shared financial goals.

Who can open a joint bank account in the UK?

Anyone over 18 residing in the UK, not just married couples, can open a joint account, including friends and family members.

What documents are needed to open a joint bank account?

You'll need identification (passport, driver's licence, or EU ID card) and proof of address (utility bill, council tax bill, or tenancy agreement), with some banks also requiring financial proof.

How do I choose the best joint bank account?

Consider what's important to you, such as customer service, fees, and features, and check out our article on the top 10 joint bank accounts to evaluate the best offerings.

What are the key considerations for managing a joint bank account?

Communicate openly about contributions and expenditures, establish clear rules for personal spending, and regularly review account activity together.

Related guides:

• A Quick Guide to Private Banking
• How Long Does it Take to Open a Bank Account?
• Best Current Accounts
• Best Savings Accounts

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Easter 2024 benefits: DWP payment dates ahead of bank holiday

Along with benefits being paid early around easter time, recipients can expect an increase in their payments from april.

The Department for Work and Pensions (DWP) has announced that benefit payment dates will be adjusted next month due to the Easter bank holidays .

This means if you are expecting payments for universal credit, PIP or attendance allowance – and others – you may receive them on a different date than usual.

Remember that the DWP does not make payments on bank holidays , so you may receive your benefits on the working day before.

This year, Good Friday falls on March 29 and Easter Monday on April 1.

When will my benefits be paid over Easter?

People set to receive their benefit payment on Good Friday will actually be paid on Thursday 28 March instead.

The same can be expected for claimants who are due payments on Easter Monday.

All the benefits that are due to be affected are listed below:

• Attendance allowance
• Carer’s allowance
• Child benefit 
• Disability living allowance
• Employment and support allowance 
• Income support
• Jobseeker’s allowance 
• Pension credit 
• Personal independence payment (PIP)
• State pension 
• Tax credits 
• Universal credit

If your benefit payment is not made when you expected it to be, make sure to verify the date on your award notice and bank account.

If the date is correct but the money is still missing, reach out to the appropriate helpline.

Keep in mind that the helpline may not be available on bank holidays. Typically, helplines operate from 8am to 5pm, Monday through Friday.

How much are benefits increasing in April? 

From April onwards, millions of Britons will see a boost in their benefits.

Chancellor Jeremy Hunt made an announcement back in November, vowing to raise benefits by 6.7 per cent, in line with inflation.

The change will be some relief to families across the country, grappling with a spiralling cost of living .

Here’s how universal credit will change:

Personal allowances

• Single under 25: £71.70 (from £67.20)
• Single, 25 or over: £90.50 (from £84.80)
• Lone parent, under 18: £71.70 (from £67.20)
• Lone parent, over 18: £90.50 (from £84.80)
• Both under 18: £71.70 from (£67.20)
• Both under 18 with child: £108.30 (from £101.50)
• Both under 18 (main phase): £90.50 (from £84.80)
• Both under 18 with child (main phase): £142.30 (from £133.30)
• Both over 18: £142.25 (from £133.30)
• Enhanced disability, single: £20.85 (from £19.55)
• Enhanced disability, couple: £29.75 (from £27.90)

Severe disability

• Severe disability, single: £81.50 (from £76.40)
• Severe disability, couple (lower rate): £81.50 (from £76.40)
• Severe disability, couple (higher rate): £163 (from £152.80)
• Carer: £45.60 (from £42.75)
• Pensioner, single with work-related activity component: £91.70 (from £82.55)
• Pensioner, single with support component: £79.95 (from £71.55)
• Pensioner, single with no component: £127.65 (from £116.25)
• Pensioner, couple with work-related activity component: £154.75 (from £139.85)
• Pensioner, couple with support component: £143 (from £128.85)
• Pensioner, couple with no component: £190.70 (from £173.55)
• Work-related activity: £35.95 (from £33.70)
• Support group: £47.70 (from £44.70)

When are the rest of the bank holidays in 2024? 

Despite New Year’s Day being behind us, there are still a total of seven bank holidays left to enjoy this year in England and Wales.

If a bank holiday falls on a weekend, then a separate weekday is given a bank holiday status instead, which usually ends up being the first Monday immediately after the holiday.

The full list of remaining bank holidays in 2024 for England and Wales is as follows:

• Friday 29 March – Good Friday
• Monday 1 April – Easter Monday
• Monday 6 May – Early May bank holiday
• Monday 27 May – Spring bank holiday
• Monday 26 August – Summer bank holiday
• Wednesday 25 December – Christmas Day
• Thursday 26 December – Boxing Day

In Scotland, residents have the same number of bank holidays this year, but the summer bank holiday falls on 5 August, as opposed to 26 August.

Meanwhile, Northern Ireland gets to enjoy one extra bank holiday, falling on Friday 12 July, for the Battle of the Boyne.

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Weekend Money: Major price rises kick in tomorrow - everything you need to know

It's National Price Hike Day on Monday, with everything from council tax to broadband going up. Read this and our Weekend Money features below and we'll be back with live consumer and personal finance updates on Tuesday.

Sunday 31 March 2024 10:24, UK

Weekend Money

• Eight things that are going up in price next week - and six major boosts to Britons' pockets
• More young people are pausing pension contributions - this is how much it's costing them
• All the places kids can eat cheap or free this Easter
• 'Game changer': Your guide to buying supermarket pasta

Best of the week

• Two Michelin starred chef picks popular high street chain among favourite cheap eats
• Money Problem: My boss makes me use annual leave for sick days - is this legal?
• 'Outrageous': Should the youngest British workers really be paid less?
• Free childcare about to be extended - here's all the support on offer to parents of young children
• ISA deadline approaching - here's what you need to know
• Your comments: Would Labour compensate Waspi women? | Is sourdough really healthy? | Anger from readers young and old

1 April (tomorrow) is nicknamed National Price Hike Day, as it's when government bodies and private companies traditionally increase the cost of goods and services ahead of the new financial year.

So what can we expect this year?

TV and broadband

BT, EE, Plusnet and Vodafone customers will be charged 7.9% more from April. These companies pin their prices to December's inflation figure plus 3.9%, which is common practice in the industry.

Virgin Media and O2, which merged in 2021, are upping prices by 8.8%, as they use the retail price index from January plus 3.9%. There are caveats which mean some O2 customers will see prices rise by less than this.

Sky is also implementing price rises, meaning most Sky TV and broadband customers will pay an average of 6.7% more from 1 April.

Council tax

Most people who live in councils with responsibility for social care in England will see their bills rise by the maximum of 4.99%.

In areas where the councils don't oversee social care, the rise for most will be 2.99%.

Birmingham City Council, which has declared effective bankruptcy, has been given permission to hike council tax by 21% over two years due to a black hole caused partly by equal pay claims and a botched IT systems rollout.

Council tax has been frozen by the devolved government in Scotland, while rises in Wales range anywhere from 3% to 21%. Northern Ireland uses a rating system instead of council tax, and rises are also expected here.

The annual cost of a standard colour TV licence will rise to £169.50 from 1 April - an increase of £10.50 on the current price of £159 a year.

Rent for social housing

The CPI rate of inflation in September - 6.7% - is used to determine the yearly rise in rents. 

For 2024-25, the limit will be 6.7% plus an additional 1%.

The average household water and sewerage bill in England and Wales will go up by an average of 6% from April . 

Water UK said the increases would leave households with an average annual bill of £473.

Vehicle excise duty will rise on all but the cleanest new and used cars in April.

Increases are generally calculated in line with the RPI rate of inflation and are expected to be about 6%.

Train fares

Rail fares will rise by 8.7% in April for those in Scotland, after the Scottish government argued previous fare freezes were not sustainable. 

For those in England and Wales, fares rose by 4.9% on 3 March. 

The Royal Mail will raise the price of stamps again as the company struggles with a decline in the number of letters being posted.

The price of a first class and second class stamp will increase by 10p to £1.35 and 85p respectively from 2 April.

It's not all bad news in April

National insurance

Chancellor Jeremy Hunt announced in the budget earlier this month that the starting rate for NI will change from 10% to 8% from 6 April (Saturday).

This will benefit 27 million workers, he said, and is worth about £450 a year to an employee on an average salary of £35,000.

NI for two million self-employed workers is also being cut.

Their rate will fall from 8% to 6%. The government says that is worth £350 to a self-employed person earning £28,200.

Child benefit

The amount people can earn before child benefit is reduced or taken away is increasing.

At the moment, people lose 1% of the benefit for every £100 they earn over £50,000. At £60,000, the benefit is cut completely.

From April, the benefit won't be reduced until one parent earns more than £60,000. And it will only go completely at £80,000.

Benefits and tax credits that are linked to inflation will rise by 6.7% in April.

That was the level CPI in September.

For joint claimants over the age of 25, universal credit standard allowances will rise from £578.82 to £617.60 per month.

The basic and new state pension will rise by 8.5% in April - to £11,502 a year.

The new state pension is for those reaching state pension age on or after 6 April 2016. It will rise to £221.20 a week - up from £203.85.

Minimum wage

The National Minimum Wage for those 21 and over will rise to £11.44 - an increase of £1.02, or 9.8%.

There are larger percentage increases for younger age groups -as well as a 21.2% rise for apprentices (going up to £6.40).

Energy price cap

From 1 April to 30 June this year the price paid by a typical household that uses electricity and gas will go down to £1,690 a year.

This is £238 a year lower than the price cap between 1 January and 31 March this year. 

By Bhvishya Patel, Money team

A lot of us don't want to think about it. Getting old, retirement, pensions. It's a lifetime away. 

And with rising bills and rent restricting finances right now , it seems planning for 40 or 50 years down the line is even further from the minds of young Britons.

In the past year alone, the number of financially vulnerable 30-somethings who are failing to set aside money for their retirement has increased by more than 5%, or 72,000, according to data science firm Outra. 

The total stands at 1.43 million.

One of these younger workers pausing contributions is Neha Solanki, 24, who works as an accounts assistant for a PR firm in London. She found opting out of her pension for a while meant her grocery bill - £60 a month - was covered. 

"It would have been nice to have a pension investment but because of the cost of living I think it is very difficult to do that," she says.

"I end up spending about £100 a month on travel. When you add up rent and everything else it builds up. 

"When I was trying to opt out I was advised not to but when you add up the smaller payments it makes a difference."

What could the consequences be?

Peter Jackson, formerly chief data officer at the Pensions Regulator and now in the same role at Outra, says he understands the pressures young people are under but warns...

"If you flip out of your pension you are pushing a cost of living crisis into your retirement. You are not going to have a sizeable pension pot available to you when you come to retire."

Mr Jackson goes on: "It's harder to build that pot when you are 55 or 60 because you have only got a few years left.

"Personally, that would be the last thing I would stop doing."

How much could you lose?

Pausing pension contributions even for a short time can have consequences, the life assurance and pensions company Standard Life has found.

Its analysis suggests a person who began working on a salary of £25,000 per year in 2020 and paid the standard monthly auto-enrolment contributions (5% employee and 3% employer monthly contributions) from the age of 22 could amass a total retirement pot of £459,000.

Opting out for three years would knock off £36,000 from your retirement pot - and six years £71,000.

Missing out on free money

And crucially, Mr Jackson adds...

"With a lot of employers, if you increase your contributions a lot of them will match it up to a certain percentage so it is kind of like free money."

Clare Moffat, pensions and legal expert at Royal London, says pausing pension contributions "might be something people have to do" as bills rise but they should take any pay rise as an opportunity to opt back in.

"A lot of younger people think they are not going to get any state pension or they are not going to see state pension until they are about 70 but then they still want to retire when they are about 60," she says.

"It's up to employers to help a bit as well. Remind people when they get a pay rise that this might be a good time if you have opted out to opt back in."

When it comes to knowing how much to contribute, she says, "it's better to think how much money you would need in retirement" - and there are tonnes of free online retirement calculators.

She adds: "I've never heard someone say I wish I had saved less for retirement - most people wish they had saved more.

"Sometimes, people can be put off and think they need to be saving hundreds of pounds a month but if you're in your 20s, little increases are good."

Money locked away is a good thing

Why not look at saving for a pension differently, suggests Claire Trott, divisional director for retirement and holistic planning at wealth manager St James's Place.

People see it as money being tied up for decades, but "actually that's a real winner".

"We all know we can dip into things we shouldn't but with pensions you can't. They are there, they get their tax relief, they get the growth, they sit there and year on year you will see some change," she says.

"Obviously, we know that markets fluctuate so it may not always look that rosy, but the longer it can stay in there the better.

"Getting it in there in your 30s or ideally in your first job just means you get that compound growth on it over the long-term."

She concludes:

"With pensions, because it's locked away and you are making that good decision, it means you are doing your future self a real service because you can't touch it and it is there to be invested appropriately."

The school holidays are here, and the Money team has been looking at where kids can eat cheap - or even free - this Easter. 

It's by no means an exhaustive list, but here are a few of our highlights... 

Gordon Ramsay restaurants  

During selected times on weekdays at selected eateries, a child under eight can eat for free when an adult dines from the a la carte menu.

Free meal for a child with every footlong sub ordered in participating restaurants until 14 April.

Available Monday-Friday during school holidays, kids can eat free when an adult makes any purchase in the café.

Be aware, though, you will need a Clubcard. 

TGI Fridays

Kids can eat free all day every day with the purchase of an adult main - though you will need to be signed up to their Stripes Rewards app.

For every adult that spends £10 in this Japanese eatery, one child aged 12 or under gets a free kiddo bento box.

Kids meals are just £1 throughout the holidays. 

Heathrow Airport

Going away this Easter? 

There are free children's meals on offer at participating airport restaurants until 14 April.

Angus Steakhouse

Those in London at participating restaurants can have their child (under eight) eat free with a full-paying adult buying a main course anytime until 12 April.

Beefeater 

Cheap breakfasts are the order of the day at Beefeaters - where two kids (under 16) eat free breakfast with any adult breakfast purchased for £9.99 or more.

Available 6.30am to 10.30am midweek and 7am and 11am at the weekend.

If the kids need a pit stop during a holiday furniture shop, parents can pick them up a child's portion of pasta for just 45p. 

Morrisons café

Kids can eat completely free all day over the holidays if an accompanying adult spends £4.50 or more. 

Bella Italia

This one is a real bargain - a two to 11-year-old can get three courses and a drink for just £1 with every purchase of an adult meal.

Available 4pm to 6pm Sunday-Wednesdays and all day Thursday.

Head to the Brazilian outlet's website to download a voucher for one free children's meal (for those under 10) per adult meal purchased.

The deal is available every weekday from 4pm, and all day at the weekend. 

The Real Greek

Kids under 12 can enjoy a mezze or souvlaki wrap, plus a drink and ice cream or sorbet for dessert if an adult spends £10 or more.

Sizzling Pub and Grill

Kids can eat for just £1 with a purchase of every adult meal Monday to Friday from 12pm.

Bill's Restaurants

Until 12 April, up to two children can eat for free all day (excluding weekends) when one adult orders any main. 

Hungry Horse

Every Monday, kids can eat for £1, though larger dishes will cost you £1.50.

Up to two kids can eat with every full-paying adult.

Table Table

Two kids under 16 can get free, unlimited all-you-can-eat buffet breakfast with any adult purchase of £9.99. 

By Ollie Cooper, Money team

It can be hard to balance getting nutritious foods that make you feel good without emptying your wallet.

In this series over the coming months, we're trying to find the cheapest ways to identify the healthiest options in the supermarket.

We've asked  Sunna Van Kampen,  who went viral on social media for reviewing supermarket products in the search of healthier choices, for his input. 

The series does not aim to identify the outright healthiest option, rather how to get better nutritional value for as little money as possible.

Today we're looking at pasta , a staple in many kitchens but often dismissed as just a carb-heavy comfort food. 

The key to transforming your pasta into a protein and fibre-packed meal without sacrificing taste or breaking the bank lies in the variety of wheat, Sunna says. 

"Pasta made from refined wheat strips out the bran and germ, which lowers the protein content as well as fibre and other nutrients," he says. 

"Typical lower-cost pasta varieties therefore contain on average about 5-6g of protein per 100g. Make yourself a nice big plate and you can expect 10-12g per portion - not really a game changer."

Here's where the Italians have it right. 

"Traditional Italian branded varieties are made using local semolina flour from Italy in traditional ways," Sunna says.

"Italian pasta must adhere to strict standards that have been set by the government - meaning a typical branded Italian pasta will select the best durum wheats in terms of gluten quality, healthiness and protein content."

That means a 200g plate of pasta has 24-28g of protein - before you add any meat or protein into the sauce.

Another option that's been popping up on supermarket shelves is legume pasta, made from lentils or chickpeas.

"These help increase the protein content (on average about 12-13g per 100g) but have other important health benefits too," Sunna says.

"Lentil pasta can boast 25-50% more fibre than standard pasta, is gluten-free and helps keep you fuller for longer."

On that note... 

Fibre is vital for gut health and Public Health England estimates as low as 9% of us are getting enough of it in our diets.

"This is where lentil or wholewheat pasta can be a game changer," Sunna says.

With a 200g serving of lentil pasta you'd be getting 6.4g of fibre, which is 21% of your daily intake, or for wholewheat you'd be getting 7.6g of fibre or 25% of your daily intake. 

"Fibre will also help limit the impact of the carbohydrates, so opting for a higher fibre variety can also be helpful if you are focused on weight loss," he says.

The nutritionist's view - from  Dr Laura Brown , senior lecturer in nutrition, food, and health sciences at Teesside University

"Yes, these are good suggestions. 

"It's definitely worth promoting the higher fibre and higher protein types - both of which make you feel fuller for longer and also help to support and encourage a healthy bowel. 

"White versions of pasta also can cause a spike in blood glucose levels, leaving us feeling tired shortly after, as well as potentially hungry again quite soon. 

"This effect is correlated with increasing the risk for type 2 diabetes and should be discouraged."

Own label regular pasta ( low protein, low fibre, gluten ) is usually £1.50/kg at all supermarkets as they price match each other on household staples.

Own label wholewheat pasta ( low protein, high fibre, gluten ) is usually £1.50/kg at all supermarkets.

Branded Italian pasta ( high protein, medium fibre, gluten ) ranges from £2.25-£3.00/kg .

Lentil pasta ( high protein, high fibre, gluten-free ) is where things get pricey at an average of £6.80/kg .

Now you've got the facts and figures, it's up to you to decide what works for your budget and needs. 

April is around the corner - here are the key money dates that could affect you in the next month.

'National price hike day'

TV and broadband customers are likely see rises of between 6.7% and 8.8% depending on their provider. 

Council tax rises by just under 5% for most people who live in councils with responsibility for social care in England. In areas where the councils don't oversee social care, the rise for most is 2.99%. Rises are more variable in Wales, while council tax has been frozen in Scotland.

The TV licence jumps from £159 a year to £169.50, while water, rent for social housing, car tax and (Scottish) train fares also go up. 

Read full details of all the increases  here ...

Minimum wage rise

The national minimum wage for those 21 and over rises to £11.44 - an increase of £1.02, or 9.8%.

There are bigger percentage increases for younger age groups -as well as a 21.2% rise for apprentices (going up to £6.40).

From 1 April, when the new cap kicks in, to 30 June, the price paid by a typical household that uses electricity and gas is £1,690 a year.

This is £238 a year lower than the cap between 1 January and 31 March. 

The Royal Mail increases the price of stamps again as the company struggles with a decline in letters.

The price of a first class and second class stamp go up by 10p to £1.35 and 85p respectively.

5 April - end of tax year

If you're paying into an ISA, funds need to have cleared by this date for it to count towards the 2023-24 year's contributions. The new £20,000 allowance kicks in the following day.

Benefits and pensions increase

Benefits and tax credits - specifically those linked to inflation - rise by 6.7%. 

For joint claimants over 25, universal credit standard allowances rise from £578.82 to £617.60 a month.

The basic and new state pension also go up by 8.5%.

The new state pension is for those who reached state pension age on or after 6 April 2016. It rises to £221.20 a week - up from £203.85.

National insurance cut

After Jeremy Hunt's promise in the budget, a further two pennies in every pound is cut from NI contributions. 

Capital gains cut

The top rate for capital gains tax goes down from 28% to 24%.

8 April - eBay fee

eBay introduces a "regulatory operating fee" for sellers, charging 0.35% of a total sale, including postage. 

It affects anyone listing items in the UK, Austria, Belgium, France, Italy, Ireland, the Netherlands, Poland, Spain and Switzerland.

17 April - inflation data for March

We get insight into inflation in March when the Office for National Statistics releases its latest figures. 

We'll cover that announcement here in the Money blog - see you at 7am on 17 April. 

The Money blog is your place for consumer news, economic analysis and everything you need to know about the cost of living - bookmark news.sky.com/money.

It runs with live updates every weekday (except bank holidays) - while on Saturdays we scale back and offer you a selection of weekend reads.

Check them out this morning and we'll be back on Tuesday with rolling news and features.

The Money team is Emily Mee, Bhvishya Patel, Jess Sharp, Katie Williams, Brad Young and Ollie Cooper, with sub-editing by Isobel Souster. The blog is edited by Jimmy Rice.

We'll be back with our Weekend Money features on Saturday - and will return with live consumer and personal finance updates after the Easter weekend on Tuesday.

For those who've got time off, enjoy - and thanks for following along.

By James Sillars , business reporter

High margins for fuel retailers may mean drivers are still paying over the odds at the pump, according to the competition regulator.

In a monitoring report, following its fuel market study of 2022, the Competition and Market Authority (CMA) said fuel margins - the difference between what retailers pay for their fuel and the price they sell it at - remained "concerning".

The regulator said supermarket margins, which had stood at 4% in 2017, rose to 7.8% in 2023.

Other retailers, it said, saw their margins hit 9.1% last year.

This was "not a good sign for drivers", the CMA said, though it stopped short of openly declaring that they were being overcharged.

Lobby groups representing both the supermarkets and independent retailers, the British Retail Consortium (BRC) and Petrol Retailers Association (PRA) respectively, have consistently denied ripping drivers off.

Read more on this story here ... 

By Victoria Seabrook , climate reporter 

Emissions of climate-heating gases from the UK continued to fall last year.

That's good news for the climate, and reinforces the fact UK has cut emissions faster than any other G20 country - by 53% since 1990.

But the reasons aren't entirely good.

While most of the fall last year was down to the UK burning less gas for electricity because it imported more from France, a large chunk was due to homes and businesses cutting back on electricity amid soaring prices.

Budgets were also "squeezed" by high interest rates, inflation and mortgages, said Glenn Rickson, who analyses the UK power sector for S&P Global Commodity Insights.

Read more on this story here ...

More than 600 Border Force officers at Heathrow Airport will go on a four-day strike from 11 April, the last weekend of the Easter school break, their union has announced.

The officers, who carry out immigration controls and passport checks, have voted to take strike action over a new roster and changes to their shift pattern. 

The PCS union has warned the changes could see 250 members of staff lose their jobs by the end of April.

"Ministers have 14 days to withdraw these unfair and unnecessary proposals or our members at Heathrow will take strike action," Fran Heathcote, its general secretary, said.

"Ripping up flexible working arrangements is no way to treat staff especially as the government says their work is critical to our nation's security." 

Read more on this story here :

Respected energy consultants Cornwall Insight have predicted the typical household's energy bill will fall to £1,560 a year from July. 

That's more than £100 less than the price cap that comes into force on Monday, which is set at £1,690 a year. 

However, the leading market researcher's latest prediction is around 7% higher than its previous forecast from around a month ago.

Ofgem changes the price cap every three months based on several factors, the most important of which is the price of energy on wholesale markets.

Wholesale prices recently hit their lowest point for a quarter of a decade, but have risen slightly in recent weeks.

The price cap does not limit a household's total bills - the figures provided are just for an average-use household.

Cornwall Insight also predicts the price cap will rise slightly from the July figure to £1,631 in October. 

"With wholesale prices hitting a two-and-a-half-year low, it was only a matter of time before a slight rise occurred as the market stabilises," Dr Craig Lowrey, its principal consultant, said.

"While no household will want to see forecasts rising, it's important to recognise that these do still represent a fall from the new cap coming in from April, itself a large drop." 

Uswitch has said the prediction is "another step in the right direction" for households. 

Energy expert Will Owen said: "Energy prices are forecast to rise into autumn and winter, so for the many households wanting price certainty, now is a good time to consider fixing.

"We're increasingly seeing suppliers offer better value deals, but Ofgem’s steps to reform the price cap must encourage more innovation from suppliers and bring back competition on price and customer service." 

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What we know about the container ship that crashed into the Baltimore bridge

• The ship that crashed into the Francis Scott Key Bridge on Tuesday was the Singapore-flagged Dali.
• The container ship had been chartered by Maersk, the Danish shipping company. 
• Two people were recovered from the water but six remain missing, authorities said.

A container ship crashed into a major bridge in Baltimore early Tuesday, causing its collapse into the Patapsco River.

A livestream showed vehicles traveling on the Francis Scott Key Bridge just moments before the impact at 1:28 a.m. ET.

Baltimore first responders called the situation a "developing mass casualty event" and a "dire emergency," per The Associated Press.

James Wallace, chief of the Baltimore Fire Department, said in a press conference that two people had been recovered from the water.

One was uninjured, but the other was transported to a local trauma center in a "very serious condition."

Wallace said up to 20 people were thought to have fallen into the river and some six people were still missing.

Richard Worley, Baltimore's police chief, said there was "no indication" the collision was purposeful or an act of terrorism.

Wes Moore, the governor of Maryland, declared a state of emergency around 6 a.m. ET. He said his office was in close communication with Pete Buttigieg, the transportation secretary.

"We are working with an interagency team to quickly deploy federal resources from the Biden Administration," Moore added.

Understanding why the bridge collapsed could have implications for safety, in both the shipping and civil engineering sectors.

The container ship is the Singapore-flagged Dali, which is about 984 feet long, and 157 feet wide, per a listing on VesselFinder.

An unclassified Cybersecurity and Infrastructure Security Agency report said that the ship "lost propulsion" as it was leaving port, ABC News reported.

The crew notified officials that they had lost control and warned of a possible collision, the report said, per the outlet.

The Dali's owner is listed as Grace Ocean, a Singapore-based firm, and its manager is listed as Synergy Marine, which is also headquartered in Singapore.

Shipping news outlet TradeWinds reported that Grace Ocean confirmed the Dali was involved in the collapse, but is still determining what caused the crash.

Related stories

Staff for Grace Ocean declined to comment on the collision when contacted by Business Insider.

"All crew members, including the two pilots have been accounted for and there are no reports of any injuries. There has also been no pollution," Synergy Marine said in a statement.

The company did not respond to a request for further comment from BI.

'Horrified'

Maersk chartered the Dali, with a schedule for the ship on its website.

"We are horrified by what has happened in Baltimore, and our thoughts are with all of those affected," the Danish shipping company said in a statement.

Maersk added: "We are closely following the investigations conducted by authorities and Synergy, and we will do our utmost to keep our customers informed."

Per ship tracking data, the Dali left Baltimore on its way to Colombo, the capital of Sri Lanka, at around 1 a.m., about half an hour before the crash.

The Port of Baltimore is thought to be the largest in the US for roll-on/roll-off ships carrying trucks and trailers.

Barbara Rossi, associate professor of engineering science at the University of Oxford, told BI the force of the impact on one of the bridge's supporting structures "must have been immense" to lead to the collapse.

Dr Salvatore Mercogliano, a shipping analyst and maritime historian at Campbell University, told BI: "It appears Dali left the channel while outbound. She would have been under the control of the ship's master with a Chesapeake Bay pilot onboard to advise the master.

"The deviation out of the channel is probably due to a mechanical issue as the ship had just departed the port, but you cannot rule out human error as that was the cause of the Ever Forward in 2022 just outside of Baltimore."

He was referring to the incident two years ago when the container ship became grounded for a month in Chesapeake Bay after loading up cargo at the Port of Baltimore.

The US Coast Guard found the incident was caused by pilot error, cellphone use, and "inadequate bridge resource management."

Claudia Norrgren, from the maritime research firm Veson Nautical, told BI: "The industry bodies who are here to protect against incidents like this, such as the vessel's flag state, classification society, and regulatory bodies, will step in and conduct a formal investigation into the incident. Until then, it'll be very hard for anyone to truly know what happened on board."

This may not have been the first time the Dali hit a structure.

In 2016, maritime blogs such as Shipwreck Log and ship-tracking site VesselFinder posted videos of what appears to be the stern of the same, blue-hulled container vessel scraping against a quay in Antwerp.

A representative for the Port of Antwerp told BI the Dali did collide with a quay there eight years ago but couldn't "give any information about the cause of the accident."

The Dali is listed as being built in 2015 by Hyundai Heavy Industries in South Korea.

Watch: The shipwreck at the center of a battle between China and the Philippines

• Main content

Robinhood’s new credit card goes after Apple Card with ability to invest cash-back perks

Eight months after acquiring credit card startup X1 for $95 million, Robinhood announced today the launch of its new Gold Card, with a list of features that could even give Apple Card users envy.

Robinhood, better known for its brokerage app aimed at the everyday investor, is touting all sorts of benefits with its new card in an attempt to attract users. The card has no annual or foreign transaction fees. However, it will only be available for Robinhood Gold members, which costs $5 a month, or $50 annually. ( Gold is a program that offers other benefits like 5% APY on an account’s uninvested brokerage cash.) 

Gold Card users can earn 3% cash back on all categories, including restaurants and groceries, and 5% cash bank when booking travel at Robinhood’s new travel portal. That cash back can be transferred to brokerage accounts, which can go toward making investments like stock purchases, the company says. The ability to invest using cash back is th e big innovation that X1 developed prior to getting acquired .

Another interesting feature of the Gold Card includes the ability to provide cards for family members. This is the first time that Robinhood has introduced a family-oriented financial product, Robinhood Money General Manager Deepak Rao told TechCrunch. Rao was the founder and CEO of X1 before joining Robinhood in the acquisition. 

Users will have the ability to add up to five family members as cardholders to their account with every cardholder receiving their own card. Additional cardholders can be any age, giving parents a way to help teens build credit and monitor spending. The ability to provide cards to family members will extend even to those visiting from other countries.

“A user can provide cards to parents, children or caregivers and set the right kind of controls and protection, while also helping them build their credit,” Rao said. “They don’t have to provide any other information than their name and date of birth and Social Security number if they have one. If you’re worried about spending limits, you can put a dollar amount limit and also a child-safe mode for kids.”

The Card also allows users to create and delete virtual cards for one-time purchases and will have an APR of 20.24% – 29.99%, which Robinhood said will vary with the market based on the Prime Rate.

Robinhood is also making its physical cards numberless so if they are lost or stolen, users won’t have to swap out all their card information. The company is also launching a new app to go along with the new Gold Card that will be completely separate from its investment app, Rao said. 

Generally, the Gold account offers up to $2.25 million FDIC insurance from a network of partner banks.

Robinhood’s entrance into the credit card market is clearly taking a cue from the likes of Apple, which has seen great success with its own card (despite hiccups with its partnership with Goldman Sachs ). By forgoing hidden fees like annual or late fees, and by applying its cash back daily, Apple Card topped more than 12 million users as of January.

Many cards offer cash back but often restrict it to certain categories. This card is generous in its cash-back offer. Apple, for instance, offers 3% cash back on all purchases made at Apple, and on purchases made at select merchants when using the Apple Card with Apple Pay. In general, purchases made on Apple Card with Apple Pay earn users 2% back. But Apple also offers a Family Sharing feature, and a high-yield savings account offering 4.5% interest.

Obviously, Robinhood will earn interchange revenue from the credit cards, standard transaction fees paid by the merchants. It has earned interchange revenue off of its debit cards, which launched in 2018 . Coastal Community Bank is Robinhood’s banking partner on the new Gold Card.

The new credit card is part of Robinhood’s evolving business model and offerings over the years. In December of 2022, the company announced Robinhood Retirement , which it described as the “first and only” individual retirement account (IRA) with a 1% match on every eligible dollar contributed. Gold Membership, a requirement to get the Gold Card, increases the eligible match to  up to 3% match.

“There’s always been special perks and opportunities reserved for the wealthy that make them even richer. It’s why we started Robinhood…” Robinhood co-founder and CEO Vlad Tenev said in a written statement. “Today’s announcements…bring us one step closer to the goal of giving everyone better access to the financial system.”

Robinhood Gold Card, explained:

What are the requirements to apply for a robinhood gold card.

You must be a Robinhood Gold card member.

You must first meet the following credentials in order to apply for a card:

• Must have a Robinhood Gold account.
• Be 18 years or older
• Have a valid social security number (not a taxpayer identification number)
• Have a legal U.S. residential address within the 50 states (exceptions may apply for active U.S. military personnel stationed abroad)
• Be a U.S. citizen, U.S. permanent resident, or have a valid U.S. visa

Are there monthly fees associated with a Robinhood Gold Card?

You must be a Robinhood Gold member to apply for the card. It costs $5 a month, or $50 a year, to become a Robinhood Gold member.

Are there foreign transaction fees associated with a Robinhood Gold Card?

No, there are no foreign transaction fees.

Will my credit be pulled when applying for a Robinhood Gold Card?

Robinhood doesn’t do a hard pull on your credit until you accept the card offer. 

What are the cash back perks and benefits of this card?

• Users can earn 3% cash back on all categories. That cash back can be transferred to brokerage accounts, which can go toward making investments like stock purchases.
• Users will have the ability to add up to five family members as cardholders to their account with every cardholder receiving their own card. 
• Cardholders can create and delete virtual cards for one-time purchases.
• The physical cards will be numberless so if they are lost or stolen, users won’t have to swap out all their card information. 

Is Robinhood Gold FDIC insured?

Robinhood offers up to $2.25 million in FDIC insurance through a network of partner banks.

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This post was originally published March 26 at 4 p.m. PT, and has been updated to include Robinhood’s stream and additional remarks.