Student bank account guides

Bank accounts

You will find a range of traditional banks on the local high street along with online only accounts. Our 'Banking and finances in the UK' presentation should help guide you through the process.

When to open bank account

When to open an account depends on the type of bank account you prefer, online or in-person. There are benefits and disadvantages to both types of accounts. We have outlined some benefits of both further down this page.

If you are opening an online bank account, you can do this before you arrive in the UK.

If you are opening an in-person account with a UK based bank, you need to arrive in the UK and register on your programme before you can open your account.  It can take up to 2 weeks to open a bank account as UK law requires banks to make detailed checks on your identity.

Documents required

Passport
Evidence of your immigration status e.g. an eVisa (share code). If you do not yet have an eVisa, some banks may accept an entry visa (vignette).
Proof of UK address
Confirmation that you are a full-time registered student at the University

To cover the last two points, you can access a bank letter from SRS in MyExeter. If you're having trouble with this, visit the Student Information Desk (SID) or Penryn Info Point in Penryn for help.

Some banks may require a UK phone number, but this is up to each individual bank.

How to open a bank account

Do your research! There are lots of banks available in the UK and online, make sure you have considered all the options carefully. It may be worth speaking to your current bank at home, to see if they recommend a particular UK bank.

Select the type of account that suits your needs. We have highlighted some benefits for both online and in person banks below.

Check benefits of different banks, some offer perks for students such as discounted travel on public transport.

Once you have carefully considered your options, you will need to apply for a bank account by filling in an online form, through the bank’s app or website. If you are opening a bank account with a UK based bank (not an online account), AND you are from outside the European Economic Area (EEA), then you may need to visit a branch in person with proof of your name and address.

'Online only' Banking

Instead of a traditional bank, you can choose to open an online only bank account. We recommend accounts with Starling Digital Banking, Monzo and First Direct.

To help you choose if this is the right option for you, Which and Money Saving Expert have lots of information about the various benefits of both online and in-person banks. Here are a few:

Online banking	In-person banking
Fee free spending in certain countries or areas – sometimes limited outside of EEU area.	Visit customer support in branch and easily receive a new card and PIN if yours is lost or stolen.
Budgeting tools within the app to monitor spending.	Many in person banks in the UK offer certain perks for students such as discounted travel cards.
Open and set up an account from anywhere in the world before arriving in the UK.	Ability to deposit cash into account at an in-person branch. You'll need to check the location of branches, particularly if you are based at our Penryn campus.

Cash cards

The University of Exeter is a cashless campus therefore you will need to ensure you have the facility to purchase items on and off campus until you are able to open a bank account.

We recommend obtaining a pre-paid travel card prior to your travel, the Caxton Currency card is a favoured option and available to set-up online for you to use until your UK bank account is functioning.