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Opening personal Bank account in the UK

A foreign student can open a British Bank for which he himself or his relatives/ friends will be able to transfer funds. In most cases, when you open a Bank account in the UK You will be issued a Bank card that allows you to dispose of the funds in the relevant account.

The procedure of opening Bank account in the UK

The account opening procedure and the necessary documents are approximately the same for all banks. If You want to open an account, You transfer money (tuition and accommodation), You often will offer to open a student account (student account).

List of documents required to open a student account:

  • ID (passport with visa);
  • proof of address of residence in Russia (the letter from UCAS or Your University confirming Your enrolment on the course);
  • the proof of address in UK (if You live in a residence of the University, you need a document confirming this; if rented accommodation in the private sector, then fit the invoice for payment of water and electricity that come in Your name and address in the UK;
  • a letter from the University confirming Your enrollment in the curriculum.

Types of student accounts and requirements to the package of documents can be changed by the time of Your arrival in the UK, as they are supplemented and updated annually at the end of June (i.e. the end of the school year). Therefore, you should double-check the information on the Bank's website before going to the Bank.

If You are not 18 years of age, the British Bank will give You a cash-card which You can withdraw cash from the ATM, but which will not be able to pay. In the performance of 18 years, You can replace the cash-card in a regular debit card.

Of course, you should carefully examine the terms of your Bank account before signing the contract. Ask the consultant to provide information about all existing types of accounts.

A list of British banks, attracting foreign students

A student account can be opened in:

  • Barclays,
  • NatWest,
  • Lloyds TSB,
  • HSBC.

Notification of tax inspection about opening an account abroad

If You are going to transfer funds from Your personal account in a Russian Bank to Your personal account in the British Bank, then You need to notify the tax office at the place of residence in Russia for opening an account in Britain. To learn more about the procedure in Your Russian Bank or within Your tax inspection at the place of residence in Russia.