How to Open a Bank Account in the UK ?

When moving to the UK, you need to make sure that your money is in the right hands and that is why you need to open the right bank account for you. Whether you are working, studying, or retiring to the UK, here you can find a wide range of options available on the market.  

Do you need a bank account across the UK? 

It is not a legal requirement to have a bank account across the UK especially when you are a student. There are alternative money management options across the UK like building societies, credit unions as well as national savings accounts. However, opening a bank account in the UK can make your move effortless. You are likely to need one when it comes to things like paying the utility bills or taking a mortgage in the UK. Different banks offer students basic accounts which can be started even if you have bad credit. So, it is worth considering opening an account with a UK bank. You might also have to provide documents related to your  student accommodation in Cardiff.  

How to start a bank account in the UK?  

If you are going to study in the UK, you can open a bank account at a branch or online. You will need a UK address when applying or else you will need a bank with an international provider that has UK coverage. The banks generally need you to fill out an application form and also undergo a credit check when applying. Each bank will have its list of needed documents. You have to prove your identity as well as your address to start a bank account across the UK.  

Most banks are likely to ask for different documents:  

• Passport or a valid photo ID  

• A recent utility bill or council tax bill  

• A recent bank or credit card statement  

• Proof of studying in the UK  

• Proof of employment (if any) 

Many standard bank accounts in the UK can start within 1-2 days 

Selecting a bank account in the UK  

If you want to initiate a bank account in the UK, then the account you go with will exclusively depend on your settings and what you are searching for precisely. There are different factors you might want to take into consideration, like:   

• Costs: Many of the UK accounts are free of any fees on a monthly basis, however, there are added fees for precise services or add-ons.   

• International scope: If you want an account that will be well-linked to the accounts and services overseas, you will need to check international as well as multi-currency account options and also services like international money transfers.  

• Range of products and services: Talk to your bank about the different services they offer. This can range from account-related services like credit and borrowing options to other financial services like UK mortgages, insurance in the UK as well as some investments.  

• Flexibility: If you are looking for ease of access and round-the-clock banking, then digital and mobile accounts are what you need to consider.  

• Incentives: Many banks try to attract customers by offering them the right incentives like cash deposits or interest-free periods. You can check out with the bank to understand what is available.  

Final Thoughts   

You can compare different account fees and changes and find out the bank which suits you the most. Many comparison tools can enable you to compare different current account features. There are different Cardiff student accommodation which you can book at the best price. If you have moved to Cardiff recently, then  Lumis Student Living Cardiff  and  Howard Gardens are the two best options that you can look at. These are added with some of the best features.