Advice and Counselling Service

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How to open a bank account in the UK

This guide is for international and EU students at Queen Mary, who are new to the UK and who need to open a bank account here. It explains: How to choose a bank Which types of bank account are available What documents you will need to open an account

Please be aware that this guide does not recommend any particular bank, it is for your information only. Banking Fair On Wednesday 19 September 2012 between 10am and 4pm, there will be a Banking Fair at Queen Mary in the Francis Bancroft Building, Rm 113113a, Mile End campus. Banks who have accepted our invitation will be there to open accounts with international and EU students. To help you decide which bank you would like to open an account with, see the information and table below. Please note that there are many more banks in the UK than listed in our table; we have only been able to include information from banks who responded to us. Documents needed Most banks will need you to have photographic proof of ID, such as a passport. They will also need proof of your address in the UK and in your home country, such as a bank letter from Queen Mary. After you enrol, you can request a bank letter from the Student Enquiries Centre, room CB05, Queens Building. This letter will confirm the name of your course, the course dates, and your addresses overseas and in the UK. If QM has always contacted you using an address that is not your permanent residential address (for example, if you applied through an agency, or you used a temporary address for your application, or you use a PO Box for correspondence), ask for your home address to be added to the letter, and show them some proof of your home address. Most banks will accept this as proof of your home address, even if QM has never written to you at that address. How long does it take to open an account? If you come to the Banking Fair, you can apply to open an account then. If you decide to go to the bank instead, remember that many students are opening accounts in September and October, so the banks will be busy and you may need to make an appointment.

How to open a bank account in the UK

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After this appointment either at the Banking Fair or in the bank, it will then normally take 7 to 10 days before you receive any cards and documents relating to your account. During this time you might not be able to use the account, so you should bring enough money with you to the UK to pay for your living costs for at least the first two weeks of your stay: we normally suggest you bring around 500. Some banks will allow you to open a bank account in your home country, so you can use it straight away when you come to the UK. Costs and charges Banks in the UK offer a range of accounts. Nearly all banks in the UK offer a basic bank account with a debit card, for which you will not be charged a monthly fee or any fees for depositing or withdrawing your money. You may be offered a bank account with a monthly fee that may give you other advantages such as holiday insurance or preferential interest rates. If you are considering a bank account which charges you a monthly fee, check that any additional benefits are worth the value of the monthly fee. Most banks charge a high fee if you try to withdraw more money than you actually have in your account and you do not have an arranged overdraft facility, or if you go over any agreed overdraft limit. Also a charge may be made if a cheque is bounced or a direct debit does not go through because there is not enough money in your current account to cover these payments. Bank Statements If you are going to be making a further immigration application in the UK, for example if you think you may go onto another course after your current one is completed, it is likely you will need to show the UKBA that you have enough money in your bank account to stay here for more time. In this case, having paper bank statements sent to your UK address would make preparing your immigration application easier. Banking Safety You can find out about using online banking safely, and also be aware of common fraud issues here: http://www.banksafeonline.org.uk/ Choosing a bank It is your decision which bank you choose to look after your money. You can use the information in this guide to compare different accounts. We do not recommend any individual banks, and this guide is provided for information only, not recommendation. There are also many other banks in the UK which are not listed here, who you can contact to ask about the accounts they offer. Bank profiles A branch is the word used to refer to a local bank. Most major banks will have branches in local areas, where customers can go in to the bank if they need to, for example to pay money into their account. We have asked local branches of major banks who are coming to the Banking Fair for up to date information about accounts for international students. This information, which was correct when this guide was written in July 2012, is described in the table below. Check with the specific bank that this information is still correct when you are opening your account. Also, this information will not necessarily be the same at other branches of these banks. How to open a bank account in the UK

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If you do not live in the Mile End area, you may prefer to open an account near where you live, although this is not always important as it is rarely necessary to visit the branch once your account has been opened as most banks offer telephone and internet banking services, although not necessarily for all types of accounts. Always check with the individual branch which documents you need to open an account. Most banks work only in English, however many banks in the Mile End area have Bengali-speaking staff working in the branch. International banks will have staff who speak English and the languages of the banks home country.

Bank profiles for those attending the QM Banking Fair

(Correct in July 2012)

Bank Question
Type of account available

Bank of China
Current Account (with Debit Card)

Barclays
Standard Account with Student additions (with Debit Card) Yes. (Condition: for accounts with overdraft facility only - a minimum of 1,500 to be paid into account over the year) Yes

HSBC
HSBC Passport (with Debit Card)

Santander
International Student Current Account (with Debit Card)

Fee Free? If yes, any conditions?

Yes

No - 8 per month (Condition: No - 5 per month (No minimum 6 month contract, after minimum-time contract which time you can change to a required) fee-free account) Yes No

Sharia law compatible banking available? What will I need to open an account?

No

50 deposit; and Valid passport; and Proof of address, either: QMUL letter or Police Registration Certificate How to open a bank account in the UK

Photographic ID, e.g: Passport, national ID card, drivers licence; and QMUL Letter

Passport; and QMUL Letter

Passport; and QMUL ID Card

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Bank Question
How long will it take to open an account 1) at the QMUL Banking fair? 2) in branch?

Bank of China
1) Account set up on following day

Barclays
1) 30-40 mins to process application. Account open same day, account number and sort code. Cards and pin to follow. 2) As above

HSBC
1) Bank account number allocated on day of applying for account. Cards and pin to follow. 2) As above

Santander
1) 48 hours to set up account, cards and pin to follow.

2) Account set up on the same day Would you write a letter if I needed one for an immigration application? If yes, would you charge? Are there any languages other than English spoken in branch? Local or student branch address No, but Bank of China would if necessary print a bank statement in-branch for a charge of 3

Yes. No charge unless copy statements are ordered due to originals not being kept, then there would be a 5 charge Varies from branch to branch. Language assistance can be arranged in advance for appointments if needed Mile End Branch 92 Bow Road E3 3AA

No, but HSBC have been to Court to argue that the UKBA should accept their generic bank statements and they won

2) In student branch within 24 hours, cards and pin to follow. Yes. No charge

Chinese (Mandarin and Cantonese)

Bengali

In student branch: Bengali, Hindi, Punjabi, Urdo. If requested in advance, Mandarin and Spanish. University London Union Santander Universities 164-167 Tottenham Court Road London W1T 7JE http://bit.ly/MhFZLO

Chinatown Branch 107 Shaftesbury Ave London W1D 5DA

Bethnal Green 465 Bethnal Green Road E2 9QW

Website

http://bit.ly/Mfe4lG

http://bit.ly/LxSJyl

http://bit.ly/yLfC1H

To find out how to travel to these banks you can use the Transport for London Journey Planner at http://www.tfl.gov.uk/ How to open a bank account in the UK 4