Opening a bank account as an EU Student

Are there any banks where I can apply online and have everything set up for when I arrive?
Also, which bank has the best deal on a student account regardless of the ability to apply online.

I should note that I have my UCAS codes for the bank and I will be moving in halls when I arrive in September, so there is no problem getting a proof of address rapidly.

Reply 1

999tigger

Original post by Lanthum

Theres a new online bank called Unizest targeted at international students. It costs £3 a month and can be set up from your home country.
http://www.unizest.co.uk/en-gb/FAQs

Bank accounts for international students tend to be the same and are only basic functioning accounts with a card. Home students get offered more facilities including an overdraft, but they are a better long term investment and they are easier to recover debts from. You should have set a UK account up within a few weeks of getting here and will need proof of ID and address.

http://www.askus.salford.ac.uk/cms/resources/uploads/files/final-basic-bank-accounts---december-2011.pdf

You could always open a Unizest account, then close it when you have opened a UK account.

Reply 2

Gorog54

Original post by Lanthum

You should try Loot https://loot.io/ - completely free to open and you just need to confirm your UK address and the card will be send there for you to use immediately - sick app too!

Reply 3

Reality Check

Original post by Lanthum

As a citizen of the EU you have a right to open a bank account in another member state. As the UK bank can't use normal identification and credit checking, you usually have to verify your identity by travelling to the UK to present yourself and your ID in person and the account is a 'basic bank account' - this an account without credit facilities or cheques, but usually has a debit/cashcard and you can set up automatic payments.

Have a look at this, from Nationwide. It gives you a general idea of how thing work, but there's several other banks you might want to consider.

Reply 4

Lanthum

Thank you for all your replies. I think I will go with Barclays, since they have an account aimed at international students : http://www.barclays.co.uk/current-accounts/international-student-bank-account/

Reply 5

999tigger

Original post by Lanthum

Its the same as everyone elses. Still a basic account but they put International in front. Perfectly adequate though.

Reply 6

RogerOxon

Original post by 999tigger

Its the same as everyone elses. Still a basic account but they put International in front. Perfectly adequate though.

Yes, there are others. My son (British but living in the US for the last 10 years) will be opening a NatWest one - he won't yet be 18 when he starts, which is an issue for some international student accounts.

Reply 7

999tigger

Original post by RogerOxon

I meant basically the same in what they offer. Nat West has free coach card. Variations in terns are small. No overdraft, which is the most useful feature and limited to home students for the reasons outlines in several previous threads.

This is from the Money Advice Service [maybe the bit about Natwest is out of date]

vasic bank accounts.PNG

Virgin gas one as well.

Name of bank Fee-free basic bank account name Barclays Basic Current Account Santander Basic Current Account NatWest Foundation Account Ulster Bank (Northern Ireland) Foundation Account Royal Bank of Scotland (Scotland) Foundation Account Royal Bank of Scotland (England & Wales) Basic Account HSBC Basic Bank Account Nationwide FlexBasic Co-operative Bank Cashminder Lloyds Banking Group (including Halifax and Bank of Scotland) Basic Account TSB Cash Account Clydesdale Bank and Yorkshire Bank Readycash Account

Virgin Money offers an Essential Current Account with the same features as a fee-free basic bank account but it is not required to comply with the same regulations governing the nine largest providers.

Just add international and student then you have the same thing.

Reply 8

Lanthum

Original post by 999tigger

Might be true, but at Barclays I can apply online before I move to the UK. Everything is set up, all I have to do when I arrive is get the proof of residence from university and then schedule a meeting with the bank.