Opening a Bank Account
Opening an account is probably one of the first steps in your journey and can be done in advance. Being a non-British citizen, you can apply for a UK bank account once you have an eVisa, or any other official proof of legal residence. These days, most banks let you open an account online through their website, but you can also visit a branch if you’d rather speak to someone in person and take the opportunity to practise your English. I would strongly recommend you to open an account in one of the high street banks since it's more widely recognised for official purposes that you might need in the future (loans, credits, mortgages). By 'high streets banks' I mean those that have physical presence and widespread network. In addition, you can open Monzo, Revolut or similar online-based account. When I first moved to the UK, I installed Monzo application and opened account through my phone within 10 minutes. I had to answer a few questions and provide an address to which I received a plastic card two days later.
Note: Using this Monzo link, you can get up to £20 reward when you sign up.
Bear in mind that online only banks does not offer all the features of a regular bank, such as overdraft services and credit lines. It is best to use them alongside traditional bank accounts. There are no limitations to how many accounts you can have.
At the opening stage you will be asked to provide your UK address. If you don’t have a permanent one yet - no dramas, you can use your work address, hotel / Airbnb or your friends/family address and update it once you have a permanent one. Just make sure that the address you use when opening your account is one where you can receive post, as your bank card will be sent there.
Bank Fees and Daily Banking
Unlike in some countries, UK banks don’t charge monthly fees for standard current accounts and debit cards. You can withdraw cash for free from most ATMs, although charges may apply at private ATMs (they will show a warning). Based on my experience, in the UK they accept cards everywhere - some places even say they are cashless. Therefore, I personally don’t see any reason why you would need to withdraw cash, unless you go to cash-only barber shops / tire fixes - you name it, on monthly basis. Another exception are small purchases in convenience stores where they prefer cash if you purchase is below 1-2 pounds - I believe it’s tailored to transaction fees and it’s simply not profitable for owners to deal with small amounts of transaction.
Credit History and Long-Term Planning
If you plan to stay in the UK long-term and apply for a credit or mortgage in the future, it’s a good idea to start building your credit history early. A strong credit record will make it easier to get approved for credit cards, overdrafts, mortgages, etc. UK lenders typically want to see at least 2–3 years of history. Make sure your salary is paid into your UK account – it helps establish financial stability. You may also want to consider a basic credit card (used responsibly and paid off in full each month) to strengthen your credit score. You might need to build your history for a year before applying for a credit card of high street bank.
Alternative Digital-Only Banks
Monzo and Starling are popular app-based banks with user-friendly apps, instant spending notifications, and fee-free spending abroad. Unlike Monzo, with Starling you can open an account in euro currency. Revolut (UK version) is another flexible option, especially if you transfer money internationally, though it isn’t always accepted as proof of banking history. If you need to send money abroad, avoid using your main bank for this – they often charge high fees. Services like Wise or Revolut provide much cheaper transfers. Opal Transfer is another alternative and they charge 50 pence per transaction for any sum.
The list of high street banks in the UK
- Barclays
- NatWest
- Lloyds Bank
- HSBC
- Metro Bank
- Halifax
- Santander
- Nationwide
To compare different banks and see which account suits you best, check MoneySavingExpert. If you wish to switch bank for any reason, you can find banks that would give you a bonus for switching to their services - think about it as an entry fee that is paid to you.