An immigrant in the UK needs to open a bank account in order to receive a salary or any other income and to make all sorts of transactions. In this matter, you can receive suitable guidance and information from our immigration solicitors in London. Our team can help you with UK residence card formalities or British citizenship applications.
| Short Facts | |
| Who can open a bank account in the UK? | EU, non-EU/EEA, and Swiss citizens who relocate to the UK |
| Required documents | – residence permit, – ID/passport, – lease agreement/ utility bill |
| Is a UK visa required for opening a bank account in the UK? | Yes, some banks might solicit your UK visa. |
| Required letter from employer/universities | Might be solicited by the bank. |
| Can I open a bank account online in the UK? (YES/NO) | YES |
| Checks and reviews | Made by the bank |
| Available currencies | British pounds mainly. Bank accounts in USD and EUR currencies are also available. |
| Types of cards | Credit and debit cards |
| Are savings accounts available in the UK for immigrants? (YES/NO) | YES |
| Digital banks in the UK | Available options for foreigners with residency in the UK |
| Banking services available in the UK | – money transfers, – currency exchange, – mobile apps, – loans, – payments, etc. |
| Can I open a bank account before relocation to the UK? | Yes, many important banks in the UK provide international bank accounts. |
| Well-known banks in the UK | – Lloyds Bank, – HSBC UK, – Barclays Bank, etc. |
| Features of the banking system in the UK | – most powerful and appreciated in the world, – very competitive |
| Working with our UK immigration lawyers | We can assist foreigners in opening bank accounts in the UK by managing all the procedures and legal formalities. Contact us before or after relocation to benefit from our personalized services. |
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Conditions to open a bank account in the UK
Although people think it is difficult to open a bank account in the UK, it is quite the opposite. Numerous financial entities in the country offer the possibility to open a bank account with only a few documents, like:
- a valid passport and an identification card from your home country;
- a copy of a utility bill will also be necessary when opening a bank account in the UK;
- depending on the bank, you may be required to provide additional information or documentation, such as business registration documents or a reference letter from another bank.
Most people choose a bank that is close to their home, in case they need to make quick withdrawals or deposits. Such financial services are also available on the online platforms of the banks, but complete details can be received when opening the account. Usually, the account is ready on the day you submit the papers, and for the card, this can be issued within a few days. It is good to know that some banks will ask for a letter of payment confirmation from your employer in the UK, but for more details, talk to our London immigration lawyer.
Please explore this infographic with details about how to open a bank account in the UK:
Opening a digital bank account in the UK
In the UK, there are various banks that offer the possibility of opening an online bank account and using their services all online. More precisely, these banks operate with the same principles as traditional ones, but offer digital bank accounts without the need to visit a bank branch. Here is how to open a digital bank account in the UK, quite useful for immigrants living in this country:
- the process is quite easy using the application offered by the digital bank;
- registration with a username and password is required;
- ID copy and a selfie photo are requested;
- approval is offered in just a few minutes after the documents have been uploaded and verified;
- if a debit card is also desired, it can be sent to the applicant's home address;
- the digital bank account can be used as soon as all approvals have been issued.
If you would like to open a digital bank account, we invite you to work with our immigration lawyers in London and seek legal assistance. In most cases, such a bank account is a good option for those who have not been issued a UK residence permit. Nevertheless, we assist in moving to the UK by handling all the immigration formalities, including those linked toopening a bank account as a foreign citizen.
What you can do with a bank account in the UK as an immigrant
Foreigners residing in the UK can open and use a bank account just like British citizens. A bank account can be used for daily financial transactions, payment of utility bills, money transfers, savings, exchange, etc. UK bank customers can request a bank account in their local currency, namely British pounds, but also in Euros, Dollars, or any other currency. However, you must take into account the fees imposed on currency exchange.
Important banks in the UK
Barclays is a well-known bank in the United Kingdom, followed by Nationwide Building Society, HSBC, and Santander. These have been in operation for more than a century. The banking sector in the UK is quite developed, being one of the most appreciated in the world. Banks like ABN Amro, Aldemore Bank, Allied Irish Bank, Bank of Ireland, Bank of London, Clydesdale Bank, Duncan Lawrie, Harrods Bank, Lloyds, and the Royal Bank of Scotland are offering excellent conditions to all customers, no matter if they are local or from abroad. Immigrants in the UK are assured that complete privacy and respect are provided by all kinds of financial institutions in the country. UK banks also offer basic accounts available for people with a poor credit history. The following services come with the type of account you choose to open in the UK. More details can be offered by our UK immigration lawyer:
- a standard account;
- cash card or debit card;
- overdraft facility;
- user for the online platform.
About the banking system in the UK in a few lines
Here are some statistics about the banking sector in the UK:
- the Common Equity Tier 1 (CET1) capital ratio for UK banks grew by approximately 15.9% in Q2 2024, with CET1 capital reaching around GBP 469 billion;
- adult membership rose by around 5.15% in Q1 2024, with total assets of approximately GBP 4.89 billion and loans up to about 10.16%;
- banks and building societies in the UK received deposits of around GBP 6.8 billion from households in October 2024.
We remind that people interested in moving to the UK should solicit assistance in visa matters and all aspects related to immigration to this country from our UK immigration lawyer. Our specialist can offer support for obtaining a residence permit in the UK. If you satisfy the requirements, submit an online application, and show up for a biometrics session, you can get a residency in the UK.
Contact our team of immigration solicitors in London for extra details about how to open a bank account in the UK or for obtaining a UK residence card or British citizenship. You can rely on the support of our London immigration lawyer.
