Banking and Finances- International Students

There are several banking options available in the UK, from full-service banks with branches (known as ‘High Street Banks’) that you can visit in person, to fully online digital banking providers which are entirely app-based. We have Sharia Compliant banks, Ethical banks, and many others available.

Standard personal bank accounts in the UK are often known as ‘Current Accounts’ – these usually come with debit cards, instant access to your money via Cash Machines (ATMs), and other essential services like Direct Debit support (often used for scheduled repeating payments, such as monthly rent and bills). While some banks offer specialist ‘Student Current Accounts’ these usually require three years UK residency.

Setting up a bank account can take time, so make sure set up an account as soon as possible to keep your money safe. Make sure you have all the information you need before you try to set your account up – the banks will advise you what they’ll need in terms of ID.

Typically, High Street banks take longer than Digital banks to set up accounts. Digital Banks often give you instant access to accounts and payments via Apple or Google Pay without the need for a physical card, cutting down on waiting times.

Most students wait until they are in the UK to open an account, but some providers can get things started before you travel. If this is an option for you, we strongly recommend you do this. Digital e-Money services such as Revolut can set up accounts in advance of travel, which can make things easier.

We also recommend checking with your current bank to see if they have a UK partner, as this could present an easier way to open a UK account. For example, HSBC account holders have access to the HSBC International Banking service which can set up a UK account before you travel.

When you are choosing a bank, take a look at what documents and proof of identity they require – each bank will have information on what they will accept and how much documentary evidence they will need. You will almost certainly need your passport as your main form of ID.

The UKCISA Bank Information website provides general information and links to information for International Students.

University Letter – Proof of Enrolment / Student Status
A Student Statement/Proof of Enrolment letter is usually needed to open a bank account. This shows your dates of study and the UK address the University has on record (or an overseas address if you haven't provided a UK address yet).

You can access this letter yourself from your Gradintelligence account. More information can be found on the MyUniHub page here.

My BRP hasn’t arrived yet – can I still open an account?
The bank you choose may require your BRP card as part of opening your account – this is because your travel vignette / visa may give the impression that you only hold a short-term visa. We know that BRP processing has, at times, been delayed – and this could cause difficulties opening your account.

We have put together a Letter regarding legal status of students with delayed BRP - this explains that your immigration leave may be longer than your vignette shows. You can try and use this letter to open an account – however whether it will be accepted is at the discretion of the bank.

Video Identity Check
When setting up a bank account via a website or through a mobile app, you will usually have to provide scans or photographs of your documents and ID. In addition, it is also common for them to require a video of you reading a statement confirming your identity.

This is a perfectly legitimate and standard request, and is nothing to be concerned about – however make sure that you do this within the banks secure app and that you only disclose the information requested. Do not provide documents or ID verification videos via any other means, such as email, WhatsApp, or any other messaging or social media platforms.

With so many options, we know picking a bank can be a challenge. We’ve provided a list of banking services below, but once again, please be aware other providers are available.

One good way to find out which banks might suit you is to ask other students who are already studying here for their suggestions and experiences. You should also review the services banks offer, any charges they make, and what benefits you might receive before deciding on an account.

You should consider your own personal circumstances – for example, will you be making regular international transfers? – some banks charge for this, others do not. If you are depositing a large amount, where could your money earn interest? If you’re travelling with a partner or spouse, would a joint account suit you? We urge you to spend some time thinking about your personal needs.

Choosing a local high street bank may be more convenient, as it is often easier to communicate with people face-to-face, but it can take time to set up accounts with these providers. If you are tech confident, a totally digital bank account is usually quick to set up, but often has less in-person support.

Make sure that the account you choose has internet banking and that you set this up. This can save you time and effort later if you need bank statements for immigration applications or other reasons. 

In the UK, traditional banks with local branches are known as “High Street Banks”. Many people prefer to bank with these, as it means you can visit the branch in-person for face-to-face customer support and assistance.

Not all High Street banks have branches in Swansea, so we have provided details of some that do below. Other banks are available.
Opening an account may involve visiting the branch – although you can usually get things started online. They will require a range of documentation which might include:

• Personal identification (usually a passport or national photo ID card, some banks also require you to have your UK Visa),
• Proof of UK address,
• Proof of studies at Swansea University (you can request a letter from MyUniHub at reception or emailing myunihub@swansea.ac.uk)

HSBC

HSBC offers a specialist bank account for International Students. It can be set up online, or by visiting a branch. You will require some specific ID documents, so check here for details of what you’ll need to get things set up – HSBC ID Check Guide. You must already be in the UK before you apply for this account.

If you are already a customer of HSBC in your home country, they have a specialist service to help you set up your account before you travel – you can find details of this by clicking here.

• HSBC International Student Account
• 10 Portland Street, Swansea, SA1 3DF (click for Google Maps location)
• New Customers – 03455 873 444 (UK) / +44 1226 261 010 (International)
• Existing Customers – 03457 404 404 (UK) / +44 1226 261 010 (International)
• Live Chat available in app and online

Barclays

Barclays offers a “Student Account” -  but this is only available if you have lived in the UK for at least 3 years. 

Barclays standard ‘Barclays Bank Account’ is available to those recently arrived in the UK, including international students. You must have your BRP before you can apply for the account. Your application can be started online, via the Barclays App, or by going into the branch. Please also be aware Barclays does not accept University issued letters as proof of address. Visit the Barclays Proof of ID & Address page which details what can be accepted.

• Barclays Bank Current Bank Account
• 262 Oxford Street, Swansea, SA1 3BR (click for Google Maps location)
• New Customers – 0345 600 4545 (UK)
• Existing Customers – 0345 734 5345 (UK) / +44 24 7684 2099 (International)
• Live Chat available in app and online, via Apple iMessage and via Social Media

Lloyds Bank

Lloyds Bank Student Accounts are only available if you have lived in the UK for at least 3 years. You can still apply for a 'Classic Bank Account' with Lloyds.

They will usually require you to hold your BRP before opening an account – however in case of difficulty their team may be able to help you further. You can apply online, by telephone or by going to the branch – but you will need an appointment (information below)

• Lloyds Bank – Current Accounts
• 802 Oxford Street, Swansea, SA1 3AF (click for Google Maps location)
• Book an appointment – 0345 300 0000 (UK) / +44 1733 347 007
• Existing Customers – 0345 602 1997
• Live Chat available in app and online, via Apple iMessage and via Social Media 

TSB

TSB’s Student accounts are only available if you have lived in the UK for at least 3 years.

You can apply for their other current accounts – the ‘Spend & Save’ account is the most popular. They will usually require you to hold your BRP or your passport with a full valid UK Visa before opening an account.

If you arrived in the UK in the last 3 months, you will need to apply via the website or by going to the branch – you cannot apply through the App.

• TSB Current Accounts
• 11 Union Street, Swansea, SA1 3EF (click for Google Maps location)
• Book an appointment / Branch direct number – 01792 463776
• Help & Support – 03459 758 758 (UK) / +44 203 284 1575 (International)
• Live Chat available in app and online 

Halifax

Halifax Student accounts are only available if you have lived in the UK for at least 3 years

The Halifax Current Account is available to apply for. They will usually require you to hold your BRP before opening an account. You can apply online, but you may be required to go to the branch to complete this. You can also arrange an appointment to do your whole application in-branch

• Halifax Current Accounts
• 22/23 Union Street, Swansea, SA1 5TX (click for Google Maps location)
• Book an appointment / For help with setting up accounts – 0800 056 0056
• Help & Support – 0345 720 3040 (UK) / +44 113 242 1984 (International)
• Live Chat available in app and online

NatWest

NatWest’s Student Account is only available to UK Citizens or those who have lived in the UK for at least 3 years, but other options are available

NatWest offer International Current Accounts. Those in eligible countries can set up an account before travel and use the account internationally. There are strict eligibility criteria, an £8GBP monthly charge, and not all countries are supported – click here for eligibility details.

If this isn’t available, or is not right for you, you can apply for a standard Select / Everyday Banking Account. They will usually require you to hold your BRP or your passport with a full valid UK Visa before opening an account – you must have at least 6 months left on your valid visa too! Applications start online, by video call, or in branch – we recommend making an appointment.

• NatWest Main Website
• 14-16a Oxford Street, Swansea, SA1 3AG (click for Google Maps location)
• Branch Contact Number (Book Appointment) – 0345 3020 774 (UK) / +44 1248 671 222 (International)
• Help & Support – 03457 888 444 (UK) / +44 3457 888444 (International)
• Live Chat available in app and online 

Santander

Santander only offers one account for people who are not permanent residents of the UK – their Basic Current Account. This is the only option that would suit those on a student or student dependant’s visa.

This account provides the basics of banking, but you would not receive a Contactless Debit Card or access to Apple / Google Pay. Although you can attempt to apply online, this can be complicated – for this reason we recommend you make an appointment to apply in-branch. Santander also require more ID documents than others - take a look at page 3 of this guide for information – Santander – Customer ID Requirements

• Santander Basic Account
• 1 Union Street, Swansea, SA1 3EE (click for Google Maps location)
• Book an appointment – 0333 207 2899
• Help & Support – 0330 9 123 123
• Live Chat available in app, automated chat bot available online

The UK is home to a modern and high-tech banking sector, which gives customers many choices of provider. There are now many ‘Digital Banks’ – providing all the services of a traditional bank, but purely online – and for the most part through mobile apps.

These are popular, convenient, and can be quicker to set up, and some providers allow you to set them up before arriving in the UK. When considering a Digital Banking Service, remember that with no branches and most support being based on live-chat services, if you require or prefer in-person assistance, or prefer to bank with cash, these may not be the best option.

Monzo

Monzo is currently one of the UK’s most popular digital banks, it provides fully app managed current and savings accounts. The application process is fully in-app and is relatively quick and easy. Monzo does require that you are already resident in the UK and have proof of this, such as your BRP Card.

Once your account is set up you can use Apple / Google Pay immediately so you do not have to wait for your card to arrive.

• Monzo – Main Website
• Monzo App – Apple UK App Store (iOS)
• Monzo App – Google Play UK App Store (Android)
• 0800 802 1281 (UK) / +44 20 3872 0620 (International)
• 24/7 Live Chat available in app.

Starling Bank

Starling provide a range of bank accounts and services accessible from their app and website. They also offer multi-currency accounts meaning you can choose to bank in UK Pounds, Euros and US Dollars if this is your preference. They also provide children’s accounts – so for those of you travelling with your children this is a great way to manage their pocket money.

You can get your account set up underway before you travel – they do require proof of UK address – click here for their guide to setting up an account as an International Student.

Once your account is set up you can use Apple / Google Pay immediately so you do not have to wait for your card to arrive.

• Starling Bank – Main Website
• Starling Bank App – Apple UK App Store (iOS)
• Starling Bank App – Google Play UK App Store (Android)
• 0207 930 4450 (UK) / +44 207 930 4450 (International)
• 24/7 Live Chat available in app.

Revolut

Revolut is a rapidly growing international e-finance company. It holds banking licences in many countries, although in the UK it is run as an e-money institution. Like Unizest, it can’t offer all services of a full bank, however it can provide additional services such as cryptocurrency support. It is regulated and authorised by the Financial Conduct Authority, which should give you confidence in their services.

Revolut is often one of the easiest accounts to set up, supports multiple currencies with minimal fees and gives instant access using Apple / Google Pay once an account is set up. For this reason, it is one of the most popular options for international students.

• Revolut – Main Website
• Revolut – Apple UK App Store (iOS)
• Revolut – Google UK Play Store (Android)
• No telephone customer service provided
• 24/7 Live Chat support in app or via website

Swansea University knows that some of our students prefer to manage their finances in a Sharia Compliant manner.

Many Sharia Compliant banks in the UK do not offer personal bank accounts, instead focussing on property purchasing and long-term savings products. There are details of some Sharia Compliant banks which offer personal current accounts provided below. Those banks that do provide personal bank accounts do not usually have branches, and as such accounts will often be online-only.

Al Rayan Bank

Formerly the Islamic Bank of Britain, Al Rayan is a well-established UK bank with over 90,000 customers. They offer current accounts as well as savings, investments and more. They have a single branch in London, however their online and app services give a full banking experience.

• Al Rayan – UK Current Account
• 0800 408 6407 (UK) / +44 129 889 0137 (International)
• Online live chat is available to assist with any queries and questions, or you can schedule a call-back from their website 

Ahli United Bank

Ahli United Bank is a global banking business with operations in many countries. It has its UK Headquarters in London, and it maintains one branch there. Their banking services are largely telephone based (you will need to arrange a call to open an account) and they also have app banking too.

• Ahli United – Personal Banking Accounts
• 020 7487 6500 (UK) / +44 20 7487 6500 (International)
• Email queries - info.aubuk@ahliunited.com

Ethical banks carry out their business with the aim of causing no negative impact to the environment or society as far as possible. This can mean refusing to invest in countries with known human rights issues, providing carbon-neutral banking services, supporting charities, or providing zero-profit banking.

Each bank has its own aims and goals, so do some research to identify which aligns with your personal views and concerns

Triodos Bank

Triodos makes ethical investments and aims to be carbon neutral. One of the best-known features is their debit card, which is made from bamboo rather than plastic. Triodos won Best Ethical Bank at the 2022 banking awards.

You must be resident in the UK before opening an account, and there is a fee of £3 a month for personal accounts. Triodos does not support digital payment platforms, such as Apple and Google Pay. While it has an app, Triodos accounts must be opened through their website.

• Triodos – Main Website
• Triodos App – Apple UK App Store (iOS)
• Triodos App – Google Play UK App Store (Android)
• 0330 3550 355 (UK) / +44 1179 739 339 (International)
• Secure chat via app

The Co-Operative Bank

The Co-Operative (Co-Op Bank) is an organisation providing many services in the UK such as shops and banks. The Co-Op Bank was established with a principle of providing ethical banking, supporting aims such as protection of biodiversity, promoting human rights and social equality, and supporting small businesses. 

Although Co-Op Bank is ethical, it should be noted that they are owned by a consortium of hedge funds which may not reflect their values. As ever, we recommend doing your own research. You must be resident in the UK before you can apply for an account, applications require a credit check.

• The Co-Operative Bank Main Website
• The Co-Operative Bank App – Apple UK App Store (iOS)
• The Co-Operative Bank App – Google Play UK App Store (Android)
• 03457 212 212 (UK) / +44 3457 212 212 (International)
• Chat available from app, website and social media

Swansea and the surrounding areas are relatively low-cost places to live compared to other regions of the UK, and is considerably lower cost than major cities such as London. However, it is important that you understand how much it is likely to cost, so you don’t find yourself facing a financial challenge. We have seen an increase in students arriving with unrealistic expectations of living costs, so we hope this will help.

This can also help you decide whether you’ll need to undertake any paid work during your studies, and how much you may need to do.

We recommend you take a look at the following resources to help you understand how best to manage your money:

• UK Living Costs and Finances: International Students - International@CampusLife’s information guide on general costs of living in the Swansea area including rents, taxes, general costs and more.
• International Students' Information Guide - This gives some excellent advice and information on financial aspects of life in the UK, along with important additional information too
• Families- International Students - If you are travelling with a family, this guide provides invaluable information on costs related to supporting your family. 
• British Council Website - Provides excellent advice on how to budget and the experiences of International Students in the UK
• Money@CampusLife - Our colleagues within CampusLife provide some great information on the costs of life while at University, as well as loads of essential hints and tips to help.

It is an unfortunate fact of life that some people will always be looking for opportunities to gain money through defrauding others. We also know that these people sometimes target International Students, for example by posing as officials from the UK Immigration services.

Take a look at these resources which can give you information on known scams, and where you can turn for help:

• Money@CampusLife – Scams - This resource tells current students about known scams targeting students, about things to be aware of and look out for, and how you can report or get advice on how to deal with scams.
• UKCISA – Frauds and Scams - The UK Council for International Student Affairs have compiled useful information about fraud, such as money laundering, which has affected International Students.

We understand that, even with the best planning, sometimes situations occur which can affect your finances and leave you in need of support.

Our colleagues in the Money@CampusLife team are here to provide advice, support and guidance to our students. Whilst they might not be able to provide financial support, they will always look to direct you to the best resources available. You can find information at:

• Money@CampusLife – General Website (Pre-Enrolment)
• Money@Campuslife – MyUni Website (Enrolled Students)

We also recommend checking out MyUni – Cost of Living (Enrolled Students) - this details support services available which may ease financial pressures.

If you have been a victim of fraud or scams, we encourage you to report this to Action Fraud UK as this can help reduce the impact on fraud, prevent future issues, and connect you with further support resources.