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Opening a UK Bank Account
If you have just arrived in the UK you may find opening a Bank Account a little difficult until you have a place of residence and an employer, this is due to strict anti money laundering laws. Once you have an employer and place of residence you should go to a branch and open an account immediately. New accounts for overseas nationals can take up to 14 working days to open. Any delay in opening a Bank Account could result in a delay in payment from your Umbrella Company or Limited Company.If you are considering contracting in the UK call Commonwealth Contractors now on 0800 294 4388 to find out how we can help or Submit your details and we will get right back to you. Our experienced Account Managers can provide assistance on finding a contract as well as advise on whether to use an Umbrella Company or a Limited Company to deal with contract income.
What UK High Street Bank should I choose?
As the majority of high street banks offer the same basic over the counter service its important to look at other factors such as customer service, telephone banking, opening hours and most important of all internet banking! Check each banks website for special offers and details of services.- Abbey National: www.abbeynational.co.uk
- Alliance & Leicester: www.alliance-leicester.co.uk
- Barclays: www.barclays.co.uk
- Citibank: www.citibank.com/uk/
- First Direct: www.firstdirect.com
- HSBC: www.hsbc.co.uk
- Lloyds TSB: www.lloydstsb.co.uk
- Natwest: www.natwest.co.uk
What Documents are required to open a Bank Account?
To open a UK Bank Account you need to prove your identity and residence. Each bank has slightly different requirements but the majority will require some of the following documents:- Current Passport or Driving Licence
- Letter of Employment from Current Employer
- Last 3 months Bank Statements
- Current Tenancy Agreement
- Utility Bill
To open an account you should contact a branch and arrange a meeting. The customer service advisor will detail the documents required to open an account.
How quickly can I open a Bank Account?
Once you’ve provided all of the required documents to the Bank an account will normally be opened within 14 working days.If you bank with HSBC in your home country it may be possible to open an account much quicker as you have an existing relationship with the bank. To do this you should contact HSBC in your home country before you leave.
