Set Up Your International Student Bank Account Before Classes Start

Coming to the UK to attend university can be exciting, but it is important that you attend to business, such as getting an international student bank account set up. When you are a foreign student, there are requirements that may need to be fulfilled prior to you even leaving home.

What You Will Need to Open a UK Bank Account

To open an account as a student in the UK you will need a Letter of Introduction from the college you will be attending. This letter confirms that you are accepted for a study programme. You will also need proof of your address and I.D.; your passport will suffice for that. You might also need to offer proof that you have incoming funds on a regular basis and a Letter of Introduction written by your previous bank at home.

What Types of Accounts are Available

A majority of banks will provide what is called a current account, to international students and this will include an ATM or cash card. It is a basic account that earns a small amount of interest and provides a safe place to keep your money where you have easy access to it. You can also open a savings account that will earn a fair interest rate and this is always helpful. Unfortunately, it is doubtful that you will be able to get free overdrafts, which equate to an interest free student loan, or a credit card.

How to Find Accounts for International Students

Checking the Internet for ‘bank accounts for foreign students’ will provide the names of many banks with accounts for students from overseas. Going with a bank that also offers the top saving accounts in UK can be beneficial to your student budget. In particular, check withHSBC Bank, Lloyds TSB Bank, and Natwest for information on an international student bank account.

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