Opening a Bank Account
Things to consider:
There are many banks in the UK which can provide bank accounts for international students. You should spend some time finding the bank which offers the best service for you. When choosing a bank you need to consider the following:
- The services the bank will offer you and what charges it will make
- What arrangements there are for transferring money from your home country, and the costs involved
- How easy it is for you to visit or contact the bank
Which Bank?
The most popular banks for our international students are Natwest Bank, HSBC, Lloyds TSB and Barclays.
What documents will you need to open a bank account?
- Many banks will ask to see your passport
- A letter confirming you are a UWIC student (you can obtain a letter from International Student Welfare Officer)
- Confirmation of your Cardiff address e.g. your halls of residence contract or your private accommodation contract.
Transferring money to the UK
Before you transfer money ask what charges will be made by the banks and how long it will take. Try to plan your finances so that the time taken to transfer money and the charges involved do not lead to you experiencing financial problems. If someone transfers money to your account they should keep a copy of the relevant documents in case there is any dispute with the bank in the future.
The easiest way to send money is by electronic transfer of funds from a bank in your home country into your UK account. To do this the bank in your home country will need:
- Your UK bank’s name and address
- Your name as given on your UK bank account
- Your UK bank account number
- Your UK bank’s sort code
Money can also be transferred using a banker’s draft. This is a document drawn-up by the bank in your home country and sent to you by post. You present the bankers draft to your bank in the UK.