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4.4 Banking

You are advised to open a bank account in the UK in order to make it easier for you to manage your money safely.

To open a bank account you will need official identification (passport), proof of student status, proof of address and funds. The College has a standard letter, which can be used by students as proof of their status and of address. You can request this letter from the Student Administration Centre after you have

1. Completed the College sign-up online
2. Made your first payment for tuition fees
3. Registered at the College and obtained your College Card

The College has its own branch of the National Westminster Bank (Nat West) on the main campus. Abbey, Barclays and HSBC Banks have branches in Egham; the closest Lloyds TSB is in Staines. The major building societies also have branches in Egham and Staines. HSBC allows you to apply online as an international students provided that you are about to study at a UK university and you do not hold any other student accounts in the UK. You must also intend to move to the UK within 30 days of the application.

All international students should be eligible for a basic bank account. This type of account allows for only basic services such as payment in and out of the account. It also allows for a cash card to enable the use of automatic teller machines (ATM) or cash machines. Basic accounts do not usually allow for a chequebook or for any form of borrowing such as an overdraft. Banking facilities are usually free to students and you should not be required to pay charges whilst your account is in credit.

There are other types of accounts such as "Current" accounts and student accounts, which offer additional services such as chequebooks and overdrafts. However, many banks are not willing to allow international students to open these. If you are interested in opening either a current account or student account you will need to discuss this with a bank representative. Although it may be time consuming and delay your opening an account in the UK, it may be worth speaking to several banks to try and get the services you think you will need. Please be aware that opening a basic account can take around 10 working days in the UK.

The British Banker's Association recommends that the best way to bring funds with you to the UK to open a UK bank account is to ask your bank in your home country to issue a bank draft to you in pounds sterling drawn on a UK bank. You can use debit and credit cards in most shops but don't forget you will need to know your card PIN number.

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