HOW TO OPEN A BANK ACCOUNT IN UK FROM INDIA?

HOW TO OPEN A BANK ACCOUNT IN THE UK FROM INDIA

Moving to a new country for higher education or a new job sounds very exciting. Although this may be the case, it should not be forgotten that this excitement is also accompanied by a lot of responsibility and chaos. New places, new faces—all of it is very confusing in the beginning. Therefore, it is best for you to prepare for all the challenges ahead by preparing for them beforehand.

While moving to the United Kingdom, one thing to keep a grip on is managing your finances well. A good bank is what you need to ensure the security of your money and manage your financial transactions. Remigos helps you with the start to the end to open a UK bank account. 

There are plenty of reasons why you should have a bank account in the U.K. For example, suppose in the event you are going to move to the UK as an employee. You’ll need a UK bank account so that your company can send your money to that bank account. As well, it also helps in reducing your financial expenses, as conversion rates do get minimized. In addition, it is good to have a UK bank account for a mobile phone and various other services, like membership invoices.

 

To make your move hassle-free, do make sure to check if you can use your Indian bank credit and debit cards in the UK. Also, keep information handy if your bank can assist you with the costs of transaction fees and international exchange expenses. You can also verify and gather information about whether your bank has links to UK banks and can assist you in opening a UK bank account.

TYPES OF UK BANK ACCOUNT

 

The banks available to the general public in the UK are called High street banks. There are a lot of high-street banks in the UK, like Lloyd’s, Barclays, etc. These banks provide you with a variety of bank account types to choose from. There are a lot of types of UK bank accounts, like:

  • A current account: These accounts are considered best for everyday transactions like paying bills and having withdrawal options. In addition to this, it comes with advantages like debit and credit cards and also provides offers and benefits on a regular basis.

 

  • Basic banking account: These accounts are great for people belonging to low-income earning groups. There are perks like no extra charges, furthermore, it is not needed for one to maintain a minimum bank balance in these accounts.

 

  • A savings account: This is a great option to choose for keeping your money safe and secure for a long. Money in this account can be kept deposited for longer times.

DOCUMENTS REQUIRED FOR OPENING UK BANK ACCOUNT

  • Address proof: The first requirement that is a must for opening a UK bank account in the United Kingdom is evidence of your address.

 

  • Identity proof: Secondly, you will need proof of identity like your passport or driving license. And if you are a student, a student visa or letter of acceptance from your university is required as identity proof. Furthermore, a rental contract or utility bill might also be used for the same, if available. Companies like Remigos further help you with all the documentation that might be needed.

Apart from this, you might also need to check other factors like the flexibility of being able to use your account 24×7. Go for a bank that offers you these services. The international reach of your bank and international bank transfer fees should be known beforehand. Try going for banks that charge less for international money transfers and exchange rates. In addition to this, verify the currency exchange costs and withdrawal fees charged at your bank. One of the most important factors that need to be kept in mind in this age of consumerism is the incentive that the bank provides. Also, check that the bank has a good customer support and is always at your service.

Banks sure are a great option to go for, but you might as well want to look for mobile banking options with the use of the Internet. These banks require address proof and finding one is a challenging task when you haven’t moved to the country yet. Online banks are the solution to this dilemma. Online banks consume less time in money transfer services, can be managed efficiently on your mobile device, and are easy to use. There are a load of options available for online banks and are best to open while you still are in India, like:

  • Remigos: Remigos is the first bank account made for international students. With advantages like no monthly fees, free international transfers, mobile banking, and more. You get a virtual debit card, which can be used online through Google Pay or Apple Pay. Smooth and quick transactions can be made using Remigos banking services.

 

  • Starling bank: This fee-free bank account is a choice among many. An entire range of facilities is provided by this bank including loans, joint accounts, youth cards, pensions, etc.

 

  • Wise: Wise is a good option to go for as the only documents they ask for from you is the identity proof. Currency exchanges are easy with Wise.

Last Lines

Advanced life comes with advanced and easy options to choose from. You can go for any of the options mentioned above and take decisions accordingly for opening a UK bank account. And to sum up, for everything that has been stated, look for reliable options. Make sure that the documents provided by you are authentic and original, and you’ll be good to go.

Leave a Reply

Your email address will not be published. Required fields are marked *

eCommerce Solution Previous post How Do You Pick An Ideal Enterprise eCommerce Solution?
Online scams Next post Financial Education 101: Avoid Online Scams