Opening a bank account can be considered to be the first thing that students need to be doing after arriving in Nottingham. The current section will include some important tips about the documents that students need, ways to select an account, and information on regional and digital-only banks.
Opening a bank account in the UK is somewhat recommended for students who intend to be in the UK for 6 months or beyond. If students are arranging an installment agreement to make payments for the rest of the fees when they join up, it will be obligatory for them to have a bank account in the UK.
A list of recommendations for opening a bank account is mentioned below:
- Firstly, it is important to compare different accounts that the regional UK and digital banks provide to students.
- Terms and fees of account differ between banks; therefore, it is essential to research all the available options it is important to utilize advice websites such as “Save the Student or the Money Advice Service”.
- Banks would ask students to show that they are students in a bid to open a student account- subject to policies of the bank; this typically implies that they must first finish University registration.
- Students’ services can generate an electronic letter for banks endorsing the details of students- to apply for this, it is important to ensure that student details are updated in their portal and then using them in the online form.
- In certain circumstances, a bank might permit students to open an account before they arrive in the UK, nevertheless, the majority of the banks would ask them to visit them in person to present evidence of student status and address here in the UK.
- In case students need to self-quarantine upon arrival into the UK, they would not be able to go to a bank till they conclude their quarantine period.
- After setting up a bank account, they need to notify the university regarding bank details through the NottinghamHub portal.
- It will be important to keep all the bank details confidential and secure; however, students might at times be asked to provide some details such as account numbers at the time of making or receiving payments.
- Diverse banks might want to review documents; therefore, it will be important to go through their websites or place a call to know in detail.
Documents that students need to present are as mentioned below:
- Identity proof such as a passport or any other ID card (also visa if they are an international student)
- Evidence of UK address (that can be tenancy contract or original copy of utility bills)
- Evidence that they are students (that can offer letters from university)
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