Banking in the UK
Updated: May 18, 2021
Despite what you think it is possible to open a new bank account without a fixed address on
the basis you have a permanent job offer in the UK.
In respect of banking there are 7 main high street banks in the UK which are listed below all of which have no charge for use of their current accounts.
All of these banks have branches within most Town and City Centre’s and dependent on your financial situation will depend on the bank account offered.
It is likely, your overdraft limit (if you qualify for one) will be minimal initially due to the lack of credit status in the UK but within 6 months of being in the UK further lending options will become available.
In recent years there has also been the emergence of online banks such as Monzo and Starling Bank both of which are FCA compliant ad easy to set up and use.
For many in the UK, both an online bank and a high street bank will be utilized due to these accounts being free (unless overdrawn)
In terms of opening an account, please check directly with your preferred bank what documentation is needed, but likely requirements are
Identification (ID) in the form of a passport and visa (if you are a non-EU guest)
· Verification of your UK and home address
· Evidence of your employment or student status
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