Requirements to Open
- Proof of identity: passport + visa/BRP
- Proof of UK address: utility bill, council tax, tenancy agreement (not always required for app banks)
- UK phone number: helpful, required for SMS verification
- National Insurance number: not needed to open account, but useful for tax stuff later
App-Only Challenger Banks
| Bank | Setup time | Monthly fee | Foreign fees |
|---|---|---|---|
| Monzo | 5 min | Free | Free £200/month then 3% |
| Starling | 10 min | Free | Free worldwide |
| Revolut | 5 min | Free (standard) | Free £1,000/month |
| Chase UK | 10 min | Free | 1% cashback |
- Monzo: coral card, great UI, bill splitting with friends, salary sorter. Free. Used by 10M+ Brits.
- Starling: best for international use (free withdrawals worldwide), business accounts available, gets "Best Bank" awards consistently
- Revolut: multi-currency accounts, crypto, stocks. Free tier fine for most; Ultra £55/month for frequent travellers
- Chase UK: JPMorgan-backed, 1% cashback on debit spending for first year
Traditional High Street Banks
- HSBC — best for international transfers if you already have HSBC overseas (Premier account transfers free between countries)
- Barclays — biggest ATM network, good app, standard current accounts free
- Lloyds Bank — widely available, Club Lloyds benefits
- NatWest — good for business, rewards account
- Nationwide — building society, not a bank; mortgage-focused but current accounts solid
- Santander — 123 Lite account £2/month for cashback on bills
🏦 First-timer strategy: Open Monzo or Starling online BEFORE you arrive in the UK — you'll have a working debit card waiting at the airport. Open a traditional bank once you have UK address proof.
International Transfers
- Wise (formerly TransferWise) — real exchange rate, low fee (0.3-0.7%). Best for most expats.
- Revolut — free up to £1,000/month, good mid-market rate
- Monzo/Starling — good for spending; for transfers use Wise instead
- Traditional banks — typically 3-5% worse exchange rate + £20-30 fee. Avoid.
- Wise Multi-Currency Account — hold GBP, USD, EUR, AUD, CAD in one account; get local bank details in each currency
Credit Cards
- Building UK credit: no credit history hurts. Get a starter credit card (Capital One Classic, Vanquis) within 3 months of arrival
- Rewards cards (once established): Amex Preferred Rewards Gold, British Airways Amex
- No-fee foreign: Barclaycard Rewards, Halifax Clarity (0% FX fees)
- Credit report providers: Experian (main), Equifax, TransUnion. Check free via ClearScore or CreditKarma
⚠️ Credit history doesn't transfer. Your 10-year spotless credit in your home country means nothing to UK lenders. Start building UK credit immediately with a starter card paid in full each month.