Turn on thread page Beta

Best UK bank for internationals watch

    Offline

    0
    ReputationRep:
    (Original post by Nelien)
    Specifically, what type of account do you have? The Student account seem to have the same requirement as most (except HSBC) banks have of minimum 3 years permanent residence in the UK.. The International account have a monthly fee of £7,50.. Which one did you get?
    with lloyds i opened an under 19 year old account as when i first arrived i was only 17:p:
    but now they have contacted me about changing it to a student account which already would be automatically when i turn 19..

    i was looking at their website and read about that 3 years conditions ... but i didn't know about it because when i opened my account they didn't ask me about it and i already gave them my home address which was in kuwait not in the UK!! and i knew a korean friend that had a lloyds account since the first year he arrive to UK?!!! so i think you could contact them regarding it ... maybe there's another account with them that don't require it ... try emailing them maybe???

    you do NOT have to pay a monthly fee for lloyds if you didn't want to ... it is only to get 'extra' stuff like an insurance for example .. so if you didn't want those extras then you don't have to pay anything... at least that applies to lloyds but a bank like barclays would take a fee without giving any extras :p:
    Offline

    0
    ReputationRep:
    How about halifax bank? Can International students open account with them?
    Offline

    10
    ReputationRep:
    I know when I went for my visa appt in Toronto you were given a handout advertising Lloyd's International account but they required a utility bill to open an account...and being only 18 and living at home I don't pay for my own utilities.

    But the bank I'm with in Canada recommended that in order to get my money most efficiently in the UK without paying a fortune, that I do a bank draft just before I leave and then it can be deposited pretty near right away and available to access fairly quickly, so I think I'll just do that and pick a bank close to school. Save the hassle of international transfers.
    Offline

    0
    ReputationRep:
    (Original post by KirstyK)
    I know when I went for my visa appt in Toronto you were given a handout advertising Lloyd's International account but they required a utility bill to open an account...and being only 18 and living at home I don't pay for my own utilities.

    But the bank I'm with in Canada recommended that in order to get my money most efficiently in the UK without paying a fortune, that I do a bank draft just before I leave and then it can be deposited pretty near right away and available to access fairly quickly, so I think I'll just do that and pick a bank close to school. Save the hassle of international transfers.
    Hmm, what do you mean by a bank draft? I thought a bank draft was only a piece of paper stating how much money you have on the bank, don't think you can do much with it except proving that you have liquidity. Or do you mean a bank withdrawal? If so, I wouldn't withdraw too much money as you'll probably have to declare it in the airport otherwise and it's always a risk I rather avoid carrying loads of money around.

    In the end I think I will just wait until I get to the UK... Don't think it matters too much that I don't have a bank account in the first couple of weeks, and as it seems, the actual requirements for different accounts doesn't seem to be as they say in the websites, so easiest would be just to visit different banks and ask them personally for the best suited account type.
    Offline

    1
    ReputationRep:
    HSBC Premier
    Offline

    10
    ReputationRep:
    (Original post by Nelien)
    Hmm, what do you mean by a bank draft? I thought a bank draft was only a piece of paper stating how much money you have on the bank, don't think you can do much with it except proving that you have liquidity. Or do you mean a bank withdrawal? If so, I wouldn't withdraw too much money as you'll probably have to declare it in the airport otherwise and it's always a risk I rather avoid carrying loads of money around.

    In the end I think I will just wait until I get to the UK... Don't think it matters too much that I don't have a bank account in the first couple of weeks, and as it seems, the actual requirements for different accounts doesn't seem to be as they say in the websites, so easiest would be just to visit different banks and ask them personally for the best suited account type.

    A bank draft is basically a cheque which is certified by your bank and therefore they clear (almost) immediately, as opposed to waiting up to a week for your cheque to clear. So before I move, I'll go to my bank and get a money draft made out to myself. They're typically inexpensive and usually used for large sums of money (i.e. someone purchasing a car might pay with a bank draft instead of cash). I would imagine you'd be able to do this in Sweden.
    • Thread Starter
    Offline

    0
    I've decided on either a free basic bank account at HSBC/Lloyds/Barclays or the ibank student account at Barclays (5 GBP/month) if I have trouble opening a basic account.
    Offline

    0
    ReputationRep:
    for any fellow canadians out there have u thought of opening an HSBC Canadian account and then switching it to a Uk HSBC one. I was wondering if this may make moving money from canada to the uk easier. not sure tho.
    Offline

    12
    ReputationRep:
    Just so you all know: I opened a student account with RBS. I get all the free stuff that home students get, and don't have to pay anything. Along with the student (current) account, I also was allowed to open a savings account and get a student credit card. They didn't seem to care that I was international, so long as I showed all the necessary documents.
    Offline

    0
    ReputationRep:
    (Original post by Rainfaery)
    Just so you all know: I opened a student account with RBS. I get all the free stuff that home students get, and don't have to pay anything. Along with the student (current) account, I also was allowed to open a savings account and get a student credit card. They didn't seem to care that I was international, so long as I showed all the necessary documents.
    It seems like all that requirements stuff they put on their websites are mostly mumbo-jumbo... This is why I'm simply going to go to the banks when I'm in Edinburgh and ask them personally instead..

    May I ask you Rainfaery, what documents were the "necessary" ones? Would be nice to have them ready before hand.

    Also, how have RBS treated you so far? I've heard from several directions that they have very bad customer service and are generally a bank to avoid, do you reccon?
    Offline

    12
    ReputationRep:
    (Original post by Nelien)
    It seems like all that requirements stuff they put on their websites are mostly mumbo-jumbo... This is why I'm simply going to go to the banks when I'm in Edinburgh and ask them personally instead..

    May I ask you Rainfaery, what documents were the "necessary" ones? Would be nice to have them ready before hand.

    Also, how have RBS treated you so far? I've heard from several directions that they have very bad customer service and are generally a bank to avoid, do you reccon?
    Well, I phoned HSBC and I know they do charge you. So you can skip them.

    To open an account as an international, you need your passport, your unconditional offer letter from the university (I also took my one from UCAS just in case), your bank letter of introduction, and proof that your tuition fees are being paid somehow.

    For me, the people at RBS were extremely helpful both times I have been into the bank thus far. They were extremely helpful with setting up my account.

    I only went in to open my account last Tuesday, and I already have my debit card and my cheque book and my deposit book. So, I would recommend them.
    Offline

    0
    ReputationRep:
    (Original post by Rainfaery)
    Well, I phoned HSBC and I know they do charge you. So you can skip them.

    To open an account as an international, you need your passport, your unconditional offer letter from the university (I also took my one from UCAS just in case), your bank letter of introduction, and proof that your tuition fees are being paid somehow.

    For me, the people at RBS were extremely helpful both times I have been into the bank thus far. They were extremely helpful with setting up my account.

    I only went in to open my account last Tuesday, and I already have my debit card and my cheque book and my deposit book. So, I would recommend them.
    Great to know Rainfaery! As for the necessary papers, I have all I need except for "bank letter of introduction". What would that be? Here in Sweden getting a bank account is so easy it's ridiculous, so I'm pretty clueless when it comes to bank papers... I'm guessing I have to get some sort of letter from my current bank? Oh well, I'll just ask my bank to hear what they have to say.
    Offline

    12
    ReputationRep:
    (Original post by Nelien)
    Great to know Rainfaery! As for the necessary papers, I have all I need except for "bank letter of introduction". What would that be? Here in Sweden getting a bank account is so easy it's ridiculous, so I'm pretty clueless when it comes to bank papers... I'm guessing I have to get some sort of letter from my current bank? Oh well, I'll just ask my bank to hear what they have to say.
    You have to request them from the university. There is a link to apply for one about halfway down this page: http://www.ed.ac.uk/studying/interna...inance/banking

    You just have it sent to your address in Edinburgh. I think mine took about 10ish days to come? Something like that.
    Offline

    0
    ReputationRep:
    (Original post by Rainfaery)
    You have to request them from the university. There is a link to apply for one about halfway down this page: http://www.ed.ac.uk/studying/interna...inance/banking

    You just have it sent to your address in Edinburgh. I think mine took about 10ish days to come? Something like that.
    Ah, awesome. I just came back from the bank and got a letter of recommendation from my current bank anyway :P. Don't think it would hurt to have one .
    Offline

    12
    ReputationRep:
    (Original post by musabjilani)
    I think it should be one that operates in our home country too as then it will be easier to transfer money. HSBC, Barclays, and RBS operate in Pakistan so I'll use one of them.
    Hm I did call HSBC bank before and there seems to be no 'connection' if you get what I mean... between your local and the foreign bank. You can transfer $ regardless of which bank you're with.

    But please correct me if I'm wrong.

    I was thinking about HSBC too but I read that you'd have to pay high monthly fees (one of the highest actually!)
    Offline

    12
    ReputationRep:
    I still haven't decided but I think NatWest is pretty good. But the thing is I'm not sure if I can sign up for the current regular account (http://www.natwest.com/personal/curr...-accounts.ashx)

    Can int'l students sign up for the plan? Thanks! What's good / bad about Natwest? I might be choosing it because it's within my Keele campus.
    Offline

    0
    ReputationRep:
    (Original post by zfitter)
    I've decided on either a free basic bank account at HSBC/Lloyds/Barclays or the ibank student account at Barclays (5 GBP/month) if I have trouble opening a basic account.

    Nice post, I'll prob be doing the same. I just need a place to put my money in, and withdraw - that's all, nothing else.

    On another note, are there fees in the UK for withdrawing money from ATMs from other banks?

    In Australia, I picked my bank based on the fact it had the most ATMs around the country - if you use an ATM from another bank, you get charged a fee.

    Does that happen in the UK? Since I'll only be withdrawing money (and little else), I'd want to go somewhere where I can use ATMs most conveniently with as little fees as possible!
    Offline

    0
    ReputationRep:
    (Original post by zuzzys)
    for any fellow canadians out there have u thought of opening an HSBC Canadian account and then switching it to a Uk HSBC one. I was wondering if this may make moving money from canada to the uk easier. not sure tho.
    Tried to do this today and failed unfortunately. Apparently HSBC Canada and HSBC UK have nothing to do with each other and you still have to pay the exact same transfer fee from account to account. The only exception to this is the HSBC Premium account, but I believe you have to maintain a minimum balance of $10,000 for this (which most students won't be able to do, I would imagine!)
    Offline

    0
    ReputationRep:
    (Original post by KirstyK)
    I know when I went for my visa appt in Toronto you were given a handout advertising Lloyd's International account but they required a utility bill to open an account...and being only 18 and living at home I don't pay for my own utilities.

    But the bank I'm with in Canada recommended that in order to get my money most efficiently in the UK without paying a fortune, that I do a bank draft just before I leave and then it can be deposited pretty near right away and available to access fairly quickly, so I think I'll just do that and pick a bank close to school. Save the hassle of international transfers.
    I thought about doing this too and it is definitely cheaper than international transfers! The only problem I'm seeing with it is that you have to physically hang onto the bank draft and make sure it isn't lost/stolen until your UK account is ready, and who knows when that will be! A bit scary since it is a large amount of money, and I will be doing some additional travelling before I settle in the UK. I still might go with it though, those transfer fees are ridiculous!

    EDIT: and yes, as someone else said, you have to declare anything over 10,000 Euros at the airport
    Offline

    2
    ReputationRep:
    (Original post by joncgde2)
    On another note, are there fees in the UK for withdrawing money from ATMs from other banks?

    In Australia, I picked my bank based on the fact it had the most ATMs around the country - if you use an ATM from another bank, you get charged a fee.

    Does that happen in the UK? Since I'll only be withdrawing money (and little else), I'd want to go somewhere where I can use ATMs most conveniently with as little fees as possible!
    Most ATM's in the UK are free. There are privately owned ATM's in places like convenience stores and outside fast food chains which charge (around £2.50 per withdrawal). Avoid these.
 
 
 
Poll
Which accompaniment is best?
Useful resources
US study forum

Accommodation profiles:

iQ Student Accommodation

iQ Student Accommodation

Great value student rooms in city centre locations all across the UK


X1 Lettings

X1 Lettings

Luxury student accommodation in Liverpool & Manchester.


Collegiate Accommodation

Collegiate Accommodation

"This is student living. Just better."


Scape Student Living

Study Inn

Providing stunning high quality, boutique student accommodation throughout the UK


The Student Housing Company

The Student Housing Company

Award-winning student accommodation - voted by 22,000 students.

Groups associated with this forum:

View associated groups

The Student Room, Get Revising and Marked by Teachers are trading names of The Student Room Group Ltd.

Register Number: 04666380 (England and Wales), VAT No. 806 8067 22 Registered Office: International House, Queens Road, Brighton, BN1 3XE

Write a reply...
Reply
Hide
Reputation gems: You get these gems as you gain rep from other members for making good contributions and giving helpful advice.