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Banking & Money Transfer
Opening Bank account is another important one which you need to consider when you first come to UK. There are number of options from many UK national banks available for you, Current account, Savings account, ISA account, Regular savings account, Non Residence account for people from other countries, fixed deposit, and instant money transfers to your native country.
To open a bank account you will need to produce your passport, proof of address, any utility bills, and reference letter. Usually if the Bank accepts your application and the other supporting documents your account will be opened in five working days. You will receive your account details, Debit card, cheque book, online banking, telephone banking, and PIN numbers of your debit card to your home address by postal.
You need to open a current account if you are working and that your salary would be paid to your bank account. With your current account you could set up direct debit to pay your monthly utilities bills. Your prospective employer will ask for your bank account to pay your salary every month. Usually interest rates on your money in your current account would be very less.
Some banks would charge you every month on your current account giving some additional services along with your current account. The additional services would be free travel insurance, home emergency insurance, Debit and credit card protection etc. You need to find out from the bank you are thinking of opening your account about the additional benefits you will be getting by opening an account with them.
Usually you will get many benefits and banking features when you open a current account which will not be available when you open just a savings account. Current accounts comes with cheque book, pay-in book, Debit card with chip and PIN, online banking, telephone banking, and credit card.
Opening a Bank account
To open a bank account you will need to produce your passport, proof of address, any utility bills, and reference letter. Usually if the Bank accepts your application and the other supporting documents your account will be opened in five working days. You will receive your account details, Debit card, cheque book, online banking, telephone banking, and PIN numbers of your debit card to your home address by postal.
Current Account
You need to open a current account if you are working and that your salary would be paid to your bank account. With your current account you could set up direct debit to pay your monthly utilities bills. Your prospective employer will ask for your bank account to pay your salary every month. Usually interest rates on your money in your current account would be very less.
Some banks would charge you every month on your current account giving some additional services along with your current account. The additional services would be free travel insurance, home emergency insurance, Debit and credit card protection etc. You need to find out from the bank you are thinking of opening your account about the additional benefits you will be getting by opening an account with them.
Usually you will get many benefits and banking features when you open a current account which will not be available when you open just a savings account. Current accounts comes with cheque book, pay-in book, Debit card with chip and PIN, online banking, telephone banking, and credit card.
