Look here first--> Banking in the UK

oohmercyme
Moderator



Joined: 21 Mar 2004
Posts: 302
Location: London, England

Posted: Sat Jul 08, 2006 4:32 am

 

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This process can be a nightmare!

Those who have experienced getting a bank account in the UK, please share your words of wisdom in how to do this with the least frustration and work.

(I won't share my experience with UK banking as it might scare someone from coming here!)

What bank is the UK is the easiest? How can you prepare before you move? What ID and documents do you need?

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lmercer
Junior Member



Joined: 16 Apr 2006
Posts: 11
Location: Birmingham

Posted: Tue Jul 11, 2006 12:34 pm

 

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This can be a bit of a nightmare, but with some preparation before leaving for the UK - it doesn't have to be overly painful.

1. Before you leave get a letter of recommendation from your bank indicating you are in good standing with them and have been a member since x number of years.

1b. Get an equifax statement which lists your credit history. This can be ordered on line and is free.

2. Sign a phone/fax agreement so that when you get to the UK, you can have money wired over here. If you don't do this ahead of time, they can't wire you the money without an original signature (or so I was told).

3. You will need a permanent address to get a bank account in the UK. If you know someone, anyone, use their address. . even if you're not staying there. I don't think they'll let you use a hostel.

4. Bring your Passport/VISA, drivers license (any form of ID you have), confirmation of employment (if you have this) to the bank.

5. Getting a bank account will take a lot longer here than in Canada. After your first appt it may take up to two weeks for it to open. Therefore, bring lots of money when you come. We survived on my MC and bank withdrawls for the first month.

6. If you know you're going to be moving to the UK within a year get an HSBC account in Canada. If you are a customer for a year, they will open up a UK bank account for you - without the hassle.

Hope this is helpful and good luck!

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ballinger
Junior Member



Joined: 26 Jun 2006
Posts: 21
Location: London

Posted: Thu Jul 13, 2006 6:21 am

 

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I got an account with HSBC within 5 days of arriving in the UK. However this was helped by the fact that I had a letter (sent to me at my hostel address) confirming a job offer. I also had a letter from CIBC confirming my very long and problem-free account history in Canada, and had a little bit of money to deposit in the account.
Loads of others in the hostel had banking nightmares but everyone who tried the HSBC branch in Russell Square had no problems. This was a few years ago, mind!

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SaaraG
CanuckAbroad Regular



Joined: 17 Jan 2006
Posts: 36
Location: Bristol, UK

Posted: Thu Jul 13, 2006 6:38 am

 

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I had quite a bit of trouble, but I was finally allowed to do it thanks to using the hostel as my address.

I have just looked on the HSBC website and they seem to have something called "Passport" which is an account you can set up online before you arrive in the UK. My brother is arriving in September and is considering using this.

Has anyone tried it? Any advise or opinions?

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ballinger
Junior Member



Joined: 26 Jun 2006
Posts: 21
Location: London

Posted: Thu Jul 13, 2006 7:46 am

 

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Yes, I noticed this when I was doing my banking. They're charging £50 for the "Passport" account which seems rather like they're planning to take advantage of unsuspecting travellers who don't realize that banking is free in the UK.
Don't know how they're going to exclude working holidaymakers from having a "normal" account without being accused of discrimination. But I guess it's an option if you aren't having any success opening an account, I'm sure they would never refuse a paying customer

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sleepy
CanuckAbroad Regular



Joined: 04 Jun 2006
Posts: 47
Location: London

Posted: Thu Jul 13, 2006 11:22 am

 

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i arrived in london just last weekend.

on monday, i was able to set up an account at barclay's without hassle. i simply walked into a branch, and presented the following:

1. reference letter from my canadian bank (scotiabank)
2. job offer letter (stating position and salary)
3. canadian passport
4. ontario driver's license

i did have to provide a mailing address because they send the bank card by mail, but i did not have to provide proof of address (i.e. uk utility bill). i had the bank card sent to my hotel, but i think you could get it sent to your office instead.

basically, it was a painless process. i was done in about 10 minutes. i even set up a canadian dollar foreign currency account on the same day as well.

it is a good idea to get mail and fax authorization with your canadian bank before you leave, as another poster has suggested.

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oohmercyme
Moderator



Joined: 21 Mar 2004
Posts: 302
Location: London, England

Posted: Thu Jul 13, 2006 11:26 am

 

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WOW Sleepy- I am stunned! It took me almsot three months to get a bank account.

Word to the wise.don't use Lloyds TSB, they seem to be the worst.
_________________
Lori

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SaaraG
CanuckAbroad Regular



Joined: 17 Jan 2006
Posts: 36
Location: Bristol, UK

Posted: Fri Jul 14, 2006 3:24 am

 

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I actually don't mind that HSBC is charging for the Passport account. It would have caused me much less stress to have paid £50 instead of stressing over the whole thing for 2 months.

It's seems to be an easy way to have something to catch you when you arrive in the UK. We'll see how it turns out!

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