Planning to study in the UK? If so, you need a reliable bank for your funds’ safekeeping. You may be wondering which bank is the best to go to and how you can apply.
In the UK, a student account is designed for international students like you. To help you in choosing the best bank, here’s a recommended list for you!
NatWest International Student Account
With a NatWest International Student, account transfer fees are very low. This is the best choice if you’re planning on sending money to your home country often. If you choose this account, you will have three options:
- One-year student membership
- National Express Coachcard
The account comes with a £10 monthly fee and is only available online. So you can’t sign up for this account at your local bank branch.
To open a NatWest International Student Account, you should be living in the UK for under three years. You must be taking any of these courses:
- A full-time undergraduate course (Must last for two or more years)
- A full-time postgraduate course
- Nurse training course at a university college in the UK
Barclays Student Additions Account (International)
This one is the best choice for international students who are planning on staying for a couple of years. Barclays offers an international student version of their UK student account.
The best feature of this account is its free outgoing money transfers and low recipient fees. On top of that, there is no monthly fee to maintain it.
To get a Barclays Student Additions Account, you must be over 18 years old and living in the UK. You also need to do a full-time undergraduate degree that lasts at least two years or a postgraduate degree that lasts at least a year. Lastly, you should plan to use this account as your main bank account.
HSBC Basic Account
Although this is a basic account, it does not come with monthly account fees. HSBC also has one of the lowest fees for transfer money in foreign currencies.
This bank requires you to have an address in an EU country to set up your account. This means that you can actually open the account even before you arrive in the UK.
Sending money abroad to non-HSBC accounts in all other currencies costs £4. Receiving money from abroad in all other currencies is free to receive under £100 and £8 to receive £100 or more.
To get one, you must be aged 16 or older and must have a residential address in the UK or an EU country.
These are some of the accounts that you can consider that offer the best features for foreign students. Now you have the top choices and all you need to do is pick what works best for you. To help you find the best bank, read our stories here at MSM Unify.