United Kingdom — Banking: Opening Account

Why this matters

It's essential for relocating individuals to have a local bank account for receiving salaries, paying bills, and managing finances in the UK.

Key facts

• The quickest identity check is usually a passport or eVisa; a driving licence or recognised ID card may also be accepted.
• Some banks ask for proof of address, usually an official letter with your name and address, though it is not required by law to open an account.
• Applications can be made in branch, by phone, online or through a bank app; if a standard account is unsuitable you may be able to open a basic account, which charges no fees.
• Opening a UK business account can take four weeks to three months; overseas companies may need an in-person meeting to sign the mandate and face extra checks.
• Business accounts typically need proof of company registration, a UK business address, identity for all owners and directors, and a business plan.

Steps

1. Step 1: Choose a Bank — Select a bank that caters to international customers and offers the type of account desired, such as a current or savings account. Some popular banks for international customers include HSBC, Barclays, and Lloyds Bank.
2. Step 2: Gather Required Documents — Typically, banks require proof of identity (passport or ID card), proof of address (utility bill or lease agreement), and proof of income (letter from employer or pension statement). Non-EU citizens may need additional documentation.
3. Step 3: Apply for the Account — Submit the application online, by phone, or in-person at a bank branch, depending on the bank's requirements. The application process may involve a meeting with a bank representative to verify the documents.