UK Bank Account
Opening a bank account is not as easy as it would seem for new visitors to the UK, and even though it’s become a little easier in the last year or so, it can still take a while once you arrive. It is simply just easier to get it done before you leave.
Restless have an arrangement with a major UK bank that will enable you to open an account prior to departing Australia or New Zealand.
Below is a step by step guide on how this all works!
Step 1 - The Migrant Banking product range
All the accounts in the Migrant Banking range allow you to access your funds 24 hours 7 days a week in a range of convenient ways including:
- access to your cash using a MasterCard debit card which is accepted at 700,000 cash machines and 5.4 million sales outlets worldwide
- access via the internet and telephone banking
- over the counter banking (subject to branch opening times)
Once received, your application will be assessed and the most appropriate account to suit your requirements will be opened. (The relevant account will be selected based upon the information supplied in your application). Upon arrival in the UK you will attend a meeting with your UK Migrant Banker who will review your requirements to ensure the most appropriate account is held.
Step 2 – Submit your application form and access the account Terms and Conditions
Submit your UK account application using our Online application form. Once your application has been submitted you will be advised which type of account you have been allocated from the Migrant Banking account range. At this point you will be provided with the relevant Terms & Conditions for the account.
Step 3 - Application processing
When your application has been processed, you will receive a confirmation letter (within two weeks), containing your new account number, Swift BIC/Bank ID and more information about the account. It will also contain contact details of your dedicated Migrant Banker in the UK.
Once you have the account number you can transfer money straight into your account. However it is a requirement of the UK Government that you provide the Bank with proof of your identity before you can carry out any withdrawals (debit transactions) on the account. You must provide us with the appropriate identification within 30 days of your arrival in the UK.
Note: You must intend to arrive in the UK within 12 months of an account being opened. If the account has not been activated and made fully operational before the first anniversary of the date on which it was opened the Bank will close the account.
Step 4 - When you arrive in the UK
When you arrive in the UK you will need to schedule a time to meet with your Migrant Banker to provide them with proof of your identity, as required by UK legislation. You can do this by showing them your passport but this must be completed within 30 days of your arrival in the country. You will also need to provide proof of your entry visa type and income which must correspond with the information submitted in your application.
Once you have done this, they can register you for Telephone and Internet Banking and issue you with a debit card.
They will also review your banking needs to allow you to take full advantage of all the products and services that are available from the Banks wider range.
A copy of the relevant account Terms & Conditions and brochure relating to your account will also be provided.
There is no minimum deposit, so it’s not going to eat into your savings if you are applying for your visa.
You can then safely transfer your money over before you leave home so it’s waiting for you when you arrive in the UK - simple! We’ll even throw in a free money transfer with our trusted partner Tranzfers.
So, it’s really a no brainer if you want to land in the UK and not have to spend your valuable time running between banks.
The UK Bank Account service is available as part of our UK Essentials Pack, click HERE for more information.