Best bank accounts for expats in the UK

Managing your money as an expat in the UK doesn’t need to be difficult. Here’s what you need to know.

Matthew Boyle's headshot

By

Matthew Boyle

Updated

Fact checked

If you’re thinking of moving to the UK, or you’ve already arrived, one of the most important aspects of your new life will be managing your money.

To get your finances in order, it’s a good idea to open a UK bank account to use while living here.

Latest reviews of bank and e-money accounts for expats

Revolut Standard

Revolut Standard

8.9 Great
Minimum opening balance£0
Account fees£0
Interest (AER)0% AER
See dealRead review

Revolut could be a great option if you've recently moved to the UK or you're moving overseas. You can use it as a UK bank account, but you'll also be able to send and receive money in multiple currencies, as well as spend and withdraw cash on the Revolut card in the UK and abroad. Revolut uses its own variable exchange rate to carry out currency conversions, but provided you carry out exchanges Monday to Friday and stick within your monthly limit, no additional fees are added. It's easy to open an account too - simply download the app, provide some personal details and verify your identity with a passport or ID card.

Monzo Current Account

Monzo Current Account

9.3 Excellent
Minimum opening balance£0
Account fees£0
Interest (AER)0% AER
Go to site Read review

You can open a bank account with the Monzo app in less than 15 minutes. All you'll need is a valid ID, such as a driving licence, passport or national ID card. There's no need to show proof of address, although you will need a UK address to enable you to receive your debit card. You can use this card to make purchases in the UK and abroad. When used overseas, Monzo will use the Mastercard exchange rate to carry out the conversion and won't add any fees to the transaction. Depending on your account plan and where you use your card, you might also be able to withdraw cash on your card abroad for free.

Representative example: If you use an arranged overdraft of £1,200, you'll be charged interest at 39% EAR variable.

Starling Current Account

Starling Current Account

9.8 Excellent
Account fees£0
Interest (AER)0% AER
See dealRead review

This app-based, free UK current account is quick and easy to open - simply download the app wherever you are, provide some personal details, record a selfie video and take a photo of your ID. You won't be charged for using your debit card overseas or in the UK, and you'll be able to send money to accounts in 35 countries worldwide for a low fee. If you only want to deal in euros, you can also open a euro account alongside your GPB account for no additional charge, making it ideal if you've recently moved abroad.

Representative example: If you use an arranged overdraft of £1,200, you'll be charged interest at 15% EAR variable.

NatWest Select Account

NatWest Select Account

9 Excellent
Minimum opening balance£0.01
Account fees£0
Interest (AER)0% AER
See dealRead review
£200 switch reward.

This is NatWest's basic bank account and it charges no monthly fee. To apply, you'll need to provide proof of ID documents such as a UK or EEA driving licence, a UK or foreign passport or an EU and EEA national ID card, making it a good choice if you're soon to move to the UK. You'll also need to provide proof of address. You can manage the account online or through the app. If you use the app, you'll be able to set up savings goals, track your spending and receive instant spending notifications. You might also be eligible for a short-term overdraft.

Representative example: If you use an arranged overdraft of £1,200, you'll be charged interest at 39.49% EAR variable.

Can an expat open a UK bank account?

Yes, as an expat living in the UK, you can usually open a UK bank account as long as you meet the criteria set by the bank you choose.

Several UK banks offer bank accounts specially designed for expats living here. These include well-known household names like HSBC, Barclays, and Lloyds.

Newer digital banks like Revolut, Monese and Monzo also offer good options.

Rachel Wait's headshot
Our expert says: Have you thought about a digital bank?

"Thanks to the rising number of digital banks in the UK, opening a bank account has become so much easier – whether you’re an existing UK resident or you’ve recently arrived in the country. Gone are the days of queuing for ages to speak to someone in a bank branch just to open an account. Now, after a few clicks of the button, it’s possible to have an online bank account up and running in a matter of minutes.

Challenger banks such as Revolut, Monese and Monzo only require you to download their app, provide a few personal details and verify your identity, before your account can be opened. You won’t even necessarily need to provide proof of address, making it an ideal solution if you’ve recently arrived in the UK. Opening an online account with one of these providers will enable you to easily receive your salary and pay your bills while you settle into your new home."

Rachel Wait's headshot
Writer

What are the benefits of opening a bank account in the UK?

Having a UK-registered bank account will make your life in the UK a lot easier.

If you’re working, most employers require you to have a UK bank account to pay your wages. Few bosses pay in cash these days.

If you’re renting a property, most landlords will also expect you to pay them via an electronic transfer from a UK-registered bank account.

Having a UK bank account could also save you money. If you use your home country’s bank account while in the UK, you may be charged currency conversion fees to pay for goods with a debit card. With a UK bank account and debit card, that won’t happen.

Which documents are needed to open a bank account for an expat?

Banks require certain documents before allowing you to open an account. This typically includes paperwork to prove your identity and UK address.

The below criteria are a good example of what to expect:

Proof of identity (one of the following):

  • Biometric Residence Permit
  • A current UK photo driving licence
  • Passport from the United Kingdom

Each bank will likely have similar but slightly different requirements for the documents it needs from you before giving you an account.

Lloyds Bank, for example, advises that if you do not have one of the above proofs of identity, you’ll need to bring two other documents you do have to the bank branch as proof of identity and address.

One problem for expats when they first arrive can be a lack of proof of UK address. Online-only digital banks Revolut, Monese and Monzo will let you open a current account without proof of address. However, you’ll still need to supply a UK address for your debit card to be delivered. Contact the bank with which you want to open an account if you’re unsure and check its criteria.

Banks will also need to ask you some questions during the application process. These will likely include the following:

Personal details questions

  • your date of birth, nationality, and marriage status
  • your address (in the UK and your international residence)
  • your phone number and email address
  • your monthly income
  • your occupation
  • your outgoings

Bottom line

Expats living in Britain can open a UK bank account, and there are benefits to doing so, from avoiding currency conversion charges to making it easier to receive wages payments and pay rental bills. Banks will need proof of identity and other personal details to start the process for you.

Frequently asked questions

Our “Best for” picks highlight top options in specific categories based on our independent evaluation (see our full methodology), while “Promoted” tags indicate sponsored placements. Selected products may not suit everyone. We track selected market offers, which may not cover every product. Products are listed in no particular order unless specified, and inclusion or ordering may be influenced by popularity or commercial agreements. Most comparison table data is provided by Defaqto or sourced directly from providers. Always evaluate your own circumstances and consider independent advice before making major financial decisions.
Matthew Boyle's headshot
Written by

Publisher
Add to Preferred Sources

Matthew Boyle is a banking and mortgages publisher at Finder. He has a 7-year history of publishing helpful guides to assist consumers in making better decisions. In his spare time, you will find him walking in the Norfolk countryside admiring the local wildlife. See full bio

Matthew's expertise
Matthew has written 210 Finder guides across topics including:
  • Helping first-time buyers apply for a mortgage
  • Comparing bank accounts and highlighting useful features
  • Publishing easy-to-understand guides
More resources on Finder

More guides on Finder

Go to site