14. REGISTER BANK ACCOUNT

Arriving in the UK and opening an account

If you decide to open your account once you arrive in the UK, there are a number of documents you may need. This is because you will need to prove your identity, name, and address. Most banks will accept the following options:

  • Passport.
  • Driver’s license.
  • Rent agreement or mortgage statement.
  • Recent utility bill (within the last three months).
  • Bank or credit card statement.
  • Payslip from your employer.

Opening an international account online in the UK from Australia

A second option is opening an international UK bank account. These are specialised accounts offered by the big banks. Often, you can open these types of accounts online from Australia. They can be good because you can apply even if you do not have a UK address yet. The downside is that these accounts usually require you to make a large initial deposit, that you must maintain.  There are sometimes monthly fees as well, and a certain amount you must deposit into the account each month.

So, yes, they can be a good option if you can meet those requirements. Just make sure you're aware of all terms and conditions before you sign up.

How to open a bank account online in the UK from Australia with HSBC Bank

The first UK bank we'll discuss is HSBC. Now, this bank only allows you to open an international account if you are already a customer with them, and to do that, you need to be located in the UK. This combination isn't ideal, so it could be unlikely that this is the right option for you. In addition to this, if you pay tax outside the EU (which you likely do if you live in Australia), you can only open an account by visiting an HSBC UK branch. This means you can't open the account online, which is frustrating and inconvenient.

For these reasons, we don’t recommend HSBC UK for your UK bank account. Opening it will be difficult, you can't do it online and there isn't a way to do it before you arrive. But if you would like to  find out more about HSBC International Accounts, you can click here.

Aside from their international accounts, HSBC also have normal GBP accounts you can use for everyday banking. If you are just looking for a UK currency account with HSBC, you can apply here. Although remember it can be difficult before you are in the UK.  Once you are in the UK, you can apply for an HSBC account online.

How to open a bank account online in the UK from Australia with Barclays Bank

The second bank we'll look at is Barclays Bank. They provide several options for people relocating to the UK. This comes with a bit of a catch though; you need a high deposit amount to open the account online from Australia. If that suits you, here is what you will need to apply:

  • Proof of primary ID, such as a Passport.
  • Proof of secondary ID, with proof of overseas address. This needs to be certified by a notary.
  • You must deposit and maintain a balance of at least £100,000, have an income of $250,000AUD or assets of AUD$2,500,000AUD.
  • You can start your account application with Barclays by calling them on +44 (0)1624 684316.

Unfortunately, the high minimum balance and deposit amounts make it quite difficult for most Australians to open a Barclays account before moving to the UK. Having said that, if you would like to make an application you can find full details in the Barclays International Account application guide.

It can be a little bit easier once you have arrived in the UK. Once you have arrived, you can apply for a Barclays account online.

 

How to open a bank account online in the UK from Australia with Lloyds Bank

Our third UK bank is Lloyds. Lloyds bank does not typically allow you to open an account from Australia. Like the other accounts we looked at, they require a very high income and initial deposit. If you did wish to do so, you need to meet the following criteria:

  • Have a gross annual income of £100,000 or more.
  • Deposit £100,000 in your Lloyds account within a month of opening it.
  • Understand that there is a monthly fee of £7.50.

These very high requirements mean we wouldn't suggest opening an account online with Lloyds Bank before you leave Australia. However, if you can meet these criteria, you can apply here.

Alternatively, it does become easier to open an account with Lloyds in the UK, once you are there. If you're already in the UK, you can apply for a current account with Lloyds bank here.

How to open a bank account online in the UK from Australia with NatWest

The final bank that has international account options is NatWest. Unfortunately, you will run into similar problems opening an account with NatWest from Australia. They also have a very high initial deposit amount, at a high minimum amount that must be maintained at all times. NatWest’s international website provides very little information on opening an account from overseas. However they do stipulate the following conditions:

  • They request a minimum balance of £100,000 is maintained at all times, or
  • That you have a minimum salary of £75,000 that is paid into the account.

If you will be meeting these requirements, you can open an account with NatWest once you are in the UK here.

Summary

It's important to find an account in the UK that best suits your needs. When it comes to transferring money from your bank account to your new UK bank account, remember that using a money transfer service is usually the cheapest way to go. To compare your options you can head to our money transfer comparison table where you can find the best rates and fees for your transfer.

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