Opening A Bank Account
One of the first things you’ll need to think about when you arrive in Edinburgh will be opening your bank account. This topic might seem very serious and grown up, but the process is relatively straight-forward. Read ahead for more information!
Tips for Opening a Bank Account
- Research your bank
- See below for some important considerations
- Start the process as soon as possible as opening a bank account can take up to a few weeks
- Prepare your documents. Some of the most important ones are listed below:
- One or two forms of ID (e.g. passport, visa, driving license, etc.)
- Proof of UK address
- Proof of student status
The University provides further information about opening a bank account in the UK, including advice for both students coming from and outside the UK.
Many banks offer student bank accounts with various benefits. It’s worth exploring your options when choosing your bank and considering whether you’d get an interest-free overdraft, a free railcard and more.
Advice about student bank accounts
Ethical Banking
Another important consideration when choosing what bank to open an account with is whether they are an ethical bank. This is important as many large banks participate in tax avoidance and fund unethical/unsustainable industries such as the fossil fuel industry and arms industries through their investments. Some examples of ethical banks are:
- Triodos
- Nationwide
- The Co-Operative bank
Familiarise yourself
ATMs Around Campus
Google Maps and your bank’s website are the best ways to find out whether certain banks have ATMs close to the campuses. Using a different bank’s ATM can incur fees for the service. However, there are free cash withdrawal ATMs close to the Central campus that do not charge the usual fees, so I would recommend using them.
Blog post originally written by Sraddheya Gurung, Informatics Communications Intern 2021.
Edited by Dimona Videnlieva, Informatics Communications Intern 2023.
Share
1 reply to “Opening A Bank Account”