Studying in the UK can be expensive for international and even domestic students, so students must choose a good student bank account that can help maximize their money. Many major banks and some online banks will provide a specific student account. A student bank account will help the students to manage money and budget.

Choose a bank: There are many banks in the UK, so the best way to limit it downwards is to look at what different banks offer students. First, it is worth seeing if the bank with which you already have an account operates in the UK too. This might be easier to open a UK-based account with the help of your current bank. The other thing that is always worth considering is which bank is available on your university campus or your university town. So, if you run into any issues with your account, you would not have to go far to get it sorted.

One of the considerable ways that can help differentiate between banks is how much interest-free overdraft the bank provides. This is unique to student bank accounts. It means that the overdraft limit is the utmost you can spend outside your money without paying interest.

In many cases, international students may not be qualified for an overdraft or may only be able to secure a small overdraft, but this is always worth consulting with your bank and examining your opinions. Another essential factor for international students to consider is the international transfer fees. Some banks will also demand paper statements, so ensure you check this cost when applying for your account.

Choose an account:

There are two different bank accounts in the UK- a current account and a savings account.

Current account: This bank account permits you to deposit and withdraw money often, depending upon your needs. Usually, when you open a current account, you acquire a chequebook and a debit card. Most international students only need to open a current account while studying in the UK.

Savings account: A savings account is a bank account that collects money over a longer term. Some students may consider opening one of these if they are working or want to preserve money for travels or emergencies.

Breakdown of bank accounts

There are many banks across the UK, so it is worth digging into some research about the most suitable bank accounts for students. It is worth noting that many banks have specific accounts for university students, but many bank accounts are not eligible for students who have not lived in the UK for over three years before beginning study. It is always worth getting in touch with the banks to see what they can provide international students or if you are eligible for their student bank accounts.

Some banks provide online-based bank accounts which are not necessarily students specific such as Revolut, Starling, or Mozo. These are good at helping you to track spending and set budgets.

How to open a bank account?

Although it is possible to open a bank account over the phone or online, if you are an international student, it might be more effortless to open your account in person in case there are any complications.

• Requirements for opening an account:


• Your full name, home telephone number, home, and college address, campus telephone number, and passport.


• Any secondary form of identification such as your birth certificate, driver's license, student ID, or a letter from the international students and scholars office at your university.


• A letter of approval from your university.


• An amount of money is to be deposited into your account.

These needs may be negligibly different across banks, so ensure to check what your bank requires before heading over. Sometimes it is possible to open your account from abroad before you reach the UK.