Opening a UK bank account Choosing a bank
There is a range of UK banks and accounts available to you. Look carefully into the details and conditions of each to compare what they offer and decide which one best suits your needs.
Opening a UK bank account with a high street bank can take several weeks. A digital bank may provide quicker access to UK banking services and can be a useful temporary option while you wait.
Many people use their traditional bank account to receive their salaries but then transfer their monthly spending money into a digital bank account to manage their everyday expenses.
If you receive a scholarship, it is important to research which bank accounts support BACS payments. The University of Leeds uses BACS (Bankers' Automated Clearing Services) to pay scholarships and other funds directly into students' bank accounts.
The University of Leeds does not endorse any particular services offered by either digital or high-street banks.
Types of banks
Digital banks
Digital banks are often faster to open than traditional high-street bank accounts and can provide early access to UK banking services, provided you meet their identification requirements.
Most are managed through a mobile app and offer features such as budgeting tools and international payments. However, they may have different fees, withdrawal limits and account features, so check the terms and conditions carefully before applying.
Once you’ve set up an account, you’ll be able to use a digital card for contactless payments but you can also request to receive a physical bank card.
Digital banking providers
Digital banking providers include:
Read this Monito article to find out more about digital banks in the UK.
Whichever bank you choose to open an account with, check whether the bank of your choice:
- is regulated and authorised by the Financial Conduct Authority (FCA) to ensure that its conduct is monitored and controlled, and whether it is protected by the Financial Services Compensation Scheme (FSCS) – which could entitle you to a compensation of up to £85,000 if the digital bank goes out of business.
- has any limits or fees for cash withdrawals, particularly when using cash machines in the UK or abroad.
- allows you to deposit cash into your account, as not all digital banks offer cash deposit services.
- will allow to set up an overdraft (if you need one).
High street or traditional banks
A high-street bank is a bank with physical branches that you can visit in person in Leeds. Unlike digital banks, which are managed primarily through an app, high-street banks have branches across the UK where you can get face-to-face support.
Most banks will offer a current account to start with, which typically allows you to withdraw cash from ATMs, make and receive payments, set up regular payments, such as rent or bills and use online and mobile banking.
Some accounts are only available to customers aged 18 or over, although options may be available for younger students.
Always check the account requirements before applying, as these can vary between banks. If you are studying in the UK for a short period (a semester or less), you may want to consider opening an account with a digital bank.
High street banking providers
While the University of Leeds cannot recommend or endorse any particular bank, the accounts listed below are examples of options that international students have used in previous years.
Please note that the University of Leeds uses BACS (Bankers' Automated Clearing Services) to make payments to students, including scholarships and other University payments. You may wish to consider this when choosing a bank account.
Use the links provided to explore the different features, eligibility requirements and application processes.
- HSBC Bank Account for International Students – apply online via their app. Please note that HSBC Global Money Account don’t support BACS payments.
- Lloyds Classic Account – apply online via their app.
- Bank of China Student Prime Account - application requirements can vary, and students may need to visit a branch or complete additional verification. Check with Bank of China UK directly.
- Barclays Bank Account - online applications for most current accounts.
- Santander Everyday Current Account or Santander Edge Student Current Account - apply online via their app (if you’re over 18) or apply in branch (if under 18).
- Nationwide FlexBasic or FlexStudent- apply for either account online.
It is possible to open bank accounts in the UK which are Sharia-compliant. You can find more information on Sharia-compliant banks under the ‘types of accounts’ section on the UKCISA website.
How to choose a bank
When comparing high-street bank accounts, you might want to consider the following questions to help you choose the option that's right for you:
- Are there any fees for receiving money from, or sending money to, an overseas bank account?
- Can I use this account to set up regular payments, such as rent, utility bills or subscription services?
- Are there any eligibility requirements, such as a minimum course length or visa duration?
- Is there a monthly account fee? If so, does the account offer benefits that are useful to me, such as lower international transfer fees or additional services?
- Will the bank provide statements that can be used as evidence of funds if I need them for a visa application or other official purposes?
- Does the account offer an overdraft, and if so, what are the eligibility requirements and charges?
- Are there any additional benefits, such as rewards, budgeting tools or discounts, and are they relevant to me?
- Does the account support BACS payments, which are commonly used by UK organisations, including universities, to make payments such as scholarships and reimbursements? BACS (Bankers' Automated Clearing Services) is a UK payment system used to transfer money directly between bank accounts.
Check common banking terms to help you understand the banking services offered.
Digital banking vs high street banking: a comparison
- Students staying in the UK for the full duration of their studies may prefer a high-street bank, while digital banks can be particularly useful for shorter stays or for getting started quickly after arrival.
- Opening a high-street bank account can sometimes take longer because more checks may be required, whereas digital banks can often get you up and running more quickly.
- High-street banks usually offer a broader range of products, such as savings accounts, loans and overdrafts, while digital banks tend to focus on simple everyday banking.
- If you expect to deposit cash regularly, a high-street bank may be more suitable, as some digital banks have restrictions on cash deposits and withdrawals.
- If you prefer in-person support and access to branches, a high-street bank may suit you better; if you're happy to manage your money through an app, a digital bank could be a convenient alternative.
- Digital banks often come with extra app features, such as budgeting tools, spending alerts and international money transfers, which may appeal to students.