OPENING A UK BANK ACCOUNT
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Transcript of OPENING A UK BANK ACCOUNT
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OPENING A UK BANK ACCOUNT
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Why open a UK Account
• Advantages: it’s cheaper!
• If you get a job, your employer will want to pay your money directly into a UK account
• You cannot set up direct debits (eg for a telephone contract) from an overseas account
• You will receive bank statements.
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What sort of account?
• Basic bank account which allows you to pay money in and take money out
• Usually provided with an ATM card to withdraw money at cash point
• No Credit or overdraft facilities
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How to open a bank account?
• Proof of identity• Tenancy agreement if you are NOT living in
College accommodation• Utility bills showing your name – you will not
have these if you have only just arrived in the UK
• Formal letter from KCL confirming your student status; start and end dates of your course; confirmation of both your overseas and UK address. Needs address of the bank
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Which to choose
• Do your own research – find a bank that suits your needs
• A-Z of Financial Terms explains some of the acronyms and terms used in British Banking – available to take away
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Local banks in Camberwell
• HSBC, 23 Denmark Hill, London SE5 8RP
• Barclays, 1-3 Butterfly Walk, Camberwell, London SE5 8RW
• NatWest,70 Denmark Hill, London SE5 8TT
• Lloyds TSB, 25 Camberwell Green, London SE5 7AB
• Santander, 34 Denmark Hill, London SE5
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More information
• KCL Student Information & Advice www.kcl.ac.uk/advice
• Email [email protected]
• The Compass www.kcl.ac.uk/thecompass
• The Financial Services Authority: www.moneymadeclear.fsa.gov.uk
• IoP Student support adviser: [email protected]