How to Open a Student Bank Account When Studying Abroad

If you’re coming to study abroad in the UK soon, there’s a lot you need to sort out before and after you arrive. Packing, unpacking, registering for classes, moving into accommodation and so much more.

But one of the most important things you need to sort out as soon as you can is a student bank account. Your UK bank account will help you pay for things and ensure that you aren’t charged international fees.

It might seem like a daunting task, but it really isn’t. Keep reading to learn everything you need to do to open a student bank account when studying abroad in the UK.

The Documents You’ll Need

Opening a bank account means that you need to prove some things to the bank so they can verify your identity. This means you’ll need to provide documents that you need to bring with you before you arrive in the UK. These include:

Proof of ID: i.e. passport
Student or Work Visa
Proof of enrollment at university
Proof of address (rental contract)

When you have all these things, you can begin the process of opening your UK bank account.

Are you moving into student accommodation this semester? Like all students, it's important to save up as much money as you can and live the frugal life.

Go For a Student Account

You could go for a regular bank account, but it’s much better if you go for a student bank account instead. These accounts are made with students in mind and offer perks like interest-free overdrafts.

If you have an overdraft, it lets you spend an agreed amount of money over what you already have. It can be especially useful if your rent payments arrive before your student loan comes in.

Make sure to pay it off though, as you will still be charged for using it even though it’s interest-free.

Think About Location

The last thing you want is having to trek for miles around the city to find your local branch of the bank because you didn’t consider the location. If you ever need to cash a cheque or sort out any banking issues in person, you want it to be close to your student accommodation.

Find somewhere within walking distance that you can reach within a reasonable amount of time.

Cost of International Transfers

When you choose which bank you’ll use to open your account, look into how much it costs for international transfers. You never know when you need to send money back home or if you get sent money from home – and you don’t want to pay extra for it.

Find out how much each bank charges for international transfers and try to go with one with the lowest charges.

What Are the Incentives

Each bank will offer their own set of perks and promotions to incentivise new customers to use them instead of the competitor. Make sure to do your research into which one offers the best ones for you.

Some of them may offer discounts in shops, railcards, shopping vouchers and more that can help you save money at university. It’s definitely worth looking into and could be a huge benefit.

Now You’re Ready to Open a Student Bank Account!

Opening a student bank account might not be the most exciting thing you do while studying abroad in the UK, but it’s something that you have to do. These tips make the process much easier to do and when you’re prepared ahead of time, you can get the best deal.

Need to find student accommodation in the UK? Talk to us and we can help you find somewhere great to live.

If you’re coming to study abroad in the UK soon, there’s a lot you need to sort out before and after you arrive. Packing, unpacking, registering for classes, moving into accommodation and so much more.

The Documents You’ll Need

Are you moving into student accommodation this semester? Like all students, it's important to save up as much money as you can and live the frugal life.

Go For a Student Account

Think About Location

Cost of International Transfers

What Are the Incentives

Now You’re Ready to Open a Student Bank Account!

Related Articles

Common Student Flat Problems

Student Flat Share Problems-and how to deal with them

7 Tips For Finding Accommodation As A Student

Company

Legal

Students

Help

Let’s keep in touch