Best bank for international students in the UK?

Hello! I'll be starting university in the UK soon, and I'd like to confirm which bank is the best for international students. I will be transferring funds from my Canadian account into my UK account every month or so. Will I be able to get a bank account once I arrive in the UK? Any advice would be appreciated, thanks :smile:

Reply 1

Euapp

21

You’ll be able to get an account if you provide proof of enrolment on a university course and a British address. However, you will not be allowed a GB student account with all the overdraft facilities associated until you have been resident for 3 full years.So unless your planning on studying longer you’ll just have to learn to budget from the beginning to the end of your course. Similarly the account will allow you a debit card but no credit card or cheque book.
HSBC as a world wide bank are usually fairly friendly towards International students although I find them a bit greedy on the costs they apply to International transfers of money into or out of your account. They let us set up accounts before arriving in the UK, but maybe because we already had an account with them from abroad.
If not , have you thought of Revolut which is a multi currency account with very low or even no costs associated with it. My children who travel widely have accounts with them.

(edited 1 year ago)

Reply 2

normaw

Clearing and Applications Advisor, Universities Forum Helper

19

Original post by happy_16

Hello! I'll be starting university in the UK soon, and I'd like to confirm which bank is the best for international students. I will be transferring funds from my Canadian account into my UK account every month or so. Will I be able to get a bank account once I arrive in the UK? Any advice would be appreciated, thanks :smile:

The link for the HSBC International Student Account:

https://www.hsbc.co.uk/current-accounts/products/international-student/

As you're from Canada, you can apply to open an Internation Bank Account before you arrive:

https://internationalservices.hsbc.com/overseas-account-opening/#destinations

And as said above, you will get better exchange rates for international transfers using specialist payment companies such as Moneycorp, Wise, TorFX, FairFX, etc. Fees can vary so compare a few.

Reply 3

Euapp

21

My daughter, not so long ago transferred around 500€ from HSBC Europe to HSBC UK, the cost was around 25€ which we found excessive, so the next time she transferred from the HSBC Europe to Revolut which was an instant transfer ( no cost) and then Revolut to HSBC UK who took a couple of Euros to receive the money, but was a lot, lot cheaper, but if you have no need for a high street bank and can function with internet banking, then something like the Revolut multi currency account may do the job for you.

(edited 1 year ago)

Reply 4

vivek_b_80

3

Original post by happy_16

Hello! I'll be starting university in the UK soon, and I'd like to confirm which bank is the best for international students. I will be transferring funds from my Canadian account into my UK account every month or so. Will I be able to get a bank account once I arrive in the UK? Any advice would be appreciated, thanks :smile:

I’ve been using HSBC UK since I arrived last year and I’d say it’s a pretty decent option for you, they have an account for international students which would be the one you’d apply for. Once you get your card and other key info you can set up mobile banking on their app, and from then on its smooth sailing. Very easy and simple to use app for transferring funds, just know that they may send you a letter in the mail each time you do an international transfer cause of some kind of law. When you’re in the UK, you can visit a branch and they will advise you on how to apply.

Best bank for international students in the UK?

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