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OPENING A UK BANK ACCOUNT. Why open a UK Account Advantages: its cheaper! Advantages: its cheaper! If you get a job, your employer will want to pay your.

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Presentation on theme: "OPENING A UK BANK ACCOUNT. Why open a UK Account Advantages: its cheaper! Advantages: its cheaper! If you get a job, your employer will want to pay your."— Presentation transcript:

1 OPENING A UK BANK ACCOUNT

2 Why open a UK Account Advantages: its cheaper! Advantages: its cheaper! If you get a job, your employer will want to pay your money directly into a UK account If you get a job, your employer will want to pay your money directly into a UK account You cannot set up direct debits (eg for a telephone contract) from an overseas account You cannot set up direct debits (eg for a telephone contract) from an overseas account You will receive bank statements – useful for visa renewals, CRB checks You will receive bank statements – useful for visa renewals, CRB checks

3 What sort of account? A Basic bank account allows you to pay money in and take money out A Basic bank account allows you to pay money in and take money out Usually provided with an ATM card to withdraw money at cash point Usually provided with an ATM card to withdraw money at cash point No Credit or overdraft facilities No Credit or overdraft facilities

4 Where to find ATMs/Cashpoints On shopping streets – usually outside banks, post offices; outside supermarkets On shopping streets – usually outside banks, post offices; outside supermarkets Locally, in Kings College Hospital Locally, in Kings College Hospital In smaller shops and stations – check if you will be charged; there will be a message on screen, before the transaction In smaller shops and stations – check if you will be charged; there will be a message on screen, before the transaction

5 How to open a bank account? Proof of identity Proof of identity Tenancy agreement if you are NOT living in College accommodation Tenancy agreement if you are NOT living in College accommodation Utility bills showing your name – you will not have these if you have only just arrived in the UK Utility bills showing your name – you will not have these if you have only just arrived in the UK Formal letter from KCL confirming your student status; start and end dates of your course; confirmation of both your overseas and UK address. Formal letter from KCL confirming your student status; start and end dates of your course; confirmation of both your overseas and UK address.

6 Which to choose Do your own research – find a bank that suits your needs Do your own research – find a bank that suits your needs A-Z of Financial Terms explains some of the acronyms and terms used in British Banking – available to take away A-Z of Financial Terms explains some of the acronyms and terms used in British Banking – available to take away

7 Local banks in Camberwell HSBC, 23 Denmark Hill, London SE5 8RP HSBC, 23 Denmark Hill, London SE5 8RP Barclays, 1-3 Butterfly Walk, Camberwell, London SE5 8RW Barclays, 1-3 Butterfly Walk, Camberwell, London SE5 8RW NatWest,70 Denmark Hill, London SE5 8TT NatWest,70 Denmark Hill, London SE5 8TT Lloyds TSB, 25 Camberwell Green, London SE5 7AB Lloyds TSB, 25 Camberwell Green, London SE5 7AB Santander, 34 Denmark Hill, London SE5 Santander, 34 Denmark Hill, London SE5

8 More information KCL Student Information & Advice wwww wwww wwww.... kkkk cccc llll.... aaaa cccc.... uuuu kkkk //// aaaa dddd vvvv iiii cccc eeee a a a a a dddd vvvv iiii cccc eeee kkkk cccc llll.... aaaa cccc.... uuuu kkkk The Compass w w w w w wwww wwww.... kkkk cccc llll.... aaaa cccc.... uuuu kkkk //// tttt hhhh eeee cccc oooo mmmm pppp aaaa ssss ssss The Financial Services Authority: wwww wwww wwww.... mmmm oooo nnnn eeee yyyy mmmm aaaa dddd eeee cccc llll eeee aaaa rrrr.... ffff ssss aaaa.... gggg oooo vvvv.... uuuu kkkk IoP Student support adviser:


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