Many local and foreign nationals choose to open a bank account online in UK, given the fact that many banks, the most popular ones included, facilitate this process.
Bank clients have access to several types of bank accounts, including solutions for corporate bank accounts and the option to open a UK bank account for non-resident/s in the country.
Our London UK lawyer specializing in banking law and financial matters can assist residents and non-residents who have questions about bank accounts and the opening process.
The easiest to open bank account in UK will be the one that allows the user to meet his or her needs to be physically present during the process, along with other long-term features offered by the bank.
If you wish to receive personalized assistance during the opening process you can reach out to our team.
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How to open a bank account in UK
Opening a bank account starts with deciding on the type of account suitable for the client’s needs:
- Current account: the most common form and also available to those who open a bank account online in UK; can be used for making payments and receiving money;
- Savings account: destined for amounts that the client wishes to save; offers interest on the money;
- Basic account: available to those with a poorer credit rating or with a current account that is overdrawn;
- Joint account: suitable for spouses or civil partners; allows for the joint management of the bills and finances.
An international student bank account in UK is also offered by some banks and can be of interest for foreign students.
The following step to open a bank account in UK is to fill in the application form. This is usually done in person, at a bank branch that is located close to the client.
In recent years, however, more banks are providing services destined for those who wish to open a bank account online in UK.
This means that physical presence is no longer mandatory, however, the application process is subject to certain requirements.
If you wish to open a bank account with a bank branch in Wimbledon, we can help you.
Some financial services companies can also offer a UK bank account without the need to provide a physical address in the country. This is particularly useful to open a UK bank account for non-resident/s.
In the United Kingdom, banks are regulated by the Financial Conduct Authority (FCA).
However, if you encounter issues with a bank or have an individual complaint, the most common course of action is to reach out to a law firm, for example, our London UK lawyers, and tell us more about your case.
Documents needed to open a bank account in UK
Banks reserve the right to ask for specific documentation from their clients. Nonetheless, the most common documents provided when getting a bank account, including for the process needed to open a bank account online in UK, are the following:
- Proof of identity: identity card, EU identity card, passport or driver’s license;
- Proof of address: tenancy agreement, utility or telephone bill; more than one proof of address may be needed;
- Proof of income: bank statement or a letter from a recognised employer, payslips or tax returns;
- Others: banks can check the applicant’s credit history and other documents may be required for this.
Some of the tariffs applicable to personal accounts can be the following:
- Replacement card: £5;
- Personalized debit card: £10;
- Payments abroad in a non-pound sterling currency: 2.99% non-sterling transaction fee;
- Monthly fees: £4 or £5 per month, depending on the package.
Please note that the fees above are only examples. Banks set their own fees.
You can reach out to us for information on the documents needed for an international student bank account in UK.
If you are a foreign national who cannot be present in the country during the entire process, our team can give you details about the options you have to open a UK bank account for non-resident/s.
We offer services throughout London, and in other cities such as Wembley.
The easiest to open bank account in UK is the one that suits your needs.
Contact us if you wish to know more about banking for residents, non-residents, as well as companies in the UK.
Our team provides complete legal services, including for those who wish to open a company.