Opening a bank account in the UK
Opening a bank account in a new country is not always straightforward as different banks have different policies and conditions.
What do I need to do before I open a UK bank account?
Before you can open a bank account in the UK you will need to have:
- Completed your enrolment and paid at least 50% of the year's tuition fee.
- Checked that your home address (where you are from/your home country) and your current student address (university accommodation or private housing in the UK) are correct on RISIS.
- Please be aware that once you have registered in university accommodation it can take up to 24 hours for your new contact information to be updated in RISIS.
What do I need to open a bank account?
Common requirements to open a bank account:
- Be over 18 in age
- Have a UK residential address
- Have a valid Passport with visa (BRP)
- Bank Letter: A letter of introduction for UK banking facilities from the University. This must include your name, course details, dates, name, contact number, UK home address, and home country address.
Bank Letter: You can print the bank letter very easily from your self-service RISIS portal. Click on 'Actions' and then ‘Self-Service Letters’. You will need to select the bank you want to open the account with.
The bank should accept this bank letter which includes a digital stamp. However in some cases, bank staff may ask for the physical letter to be stamped and signed by the University. If this is the case, you will need to take the letter to your support centre or Student Services Reception. If you have any further issues, please contact us at int.adv@rerading.ac.uk.
Every bank has different registration requirements, offers and fees. It is best to do some research first and find an account that works best for you.
Please note: You may not be eligible for a student account as usually you need to have lived in the UK for 3 years, in this case, it may be best to apply for a current account. For some banks, you may be able to apply for a current account via an app where your address will be verified through your location (so it is best to apply whilst you are at home). If you have any issues with this, staff at the bank’s local branch will be able to assist you.
Each following bank has a branch based in Reading town centre:
There also are Online Banks with no physical branch, which may be good for currency exchange. However, there are some cases where having a physical branch is helpful.
Once you've opened your bank account, we'd recommend familiarising yourself with the financial support and advice that is available to you to help support with your financial wellbeing at university:
The Money Matters pages on Essentials are the place to go to find out about fees and how to pay online, funding, advice and insurance.
The Student Financial Support Team are also available for in-person and online appointments to provide advice and support on any money related matters.
Blackbullion is a free financial planning tool with lots of educational resources to help you get confident with your finances. There is also information on fraud and specific resources about being an international student.
Tips on banking in the UK
- Always let your bank know as soon as possible if you change your address.
- Most banks offer paper-free communication so we can be more ‘green’.
- Always sign the back of your bank cards as soon as you receive them.
- Check your bank and credit-card statements regularly for unfamiliar transactions; this will also maintain effective money management. If you spot a transaction that you think you did not make yourself, contact your bank immediately.
- Be cautious when typing in your PIN number so no one sees it.
- Some mainstream banks offer accounts and services that meet Sharia principles and there are also a few specialist banks that operate in accordance with them.
The UK is becoming more of a cashless society which can be difficult to adjust to. You may not need much cash while living and studying at Reading. This is more prevalent in cities or large towns. This is one of the many reasons to open a UK bank account when you arrive.