Which Bank Is Best For International Students In The UK
Which insurance is best for international students in the UK?
Embarking on an international student journey in the United Kingdom is an exciting and transformative experience. As you prepare for this adventure, one of the essential aspects to consider is managing your finances effectively. Choosing the right bank can make a difference in simplifying your financial matters, ensuring your funds are secure, and facilitating smooth transactions both within the UK and with your home country.
In this blog, we’ll guide you through selecting the best bank for international students in the UK. As a newcomer, the plethora of options can be overwhelming. That’s why we’ll break down the key factors to consider, introduce you to some of the leading banks catering to students from abroad, and provide tips to make your banking experience hassle-free.
1- HSBC International Student Account:
The HSBC International Student Account is a bank account designed for international students studying in the UK. It offers several features that are useful for students, including:
- No monthly fees
- Free international debit card
- Access to HSBC’s global ATM network
- 0.1% cashback on overseas spending
- £100 welcome gift
- Free Headspace subscription
To be eligible for the HSBC International Student Account, you must:
- Be 18 years old or over
- Be enrolled as a full-time student at a UK university or college
- Have a valid passport and visa
- Have a UK address
You can apply for the HSBC International Student Account online or at any HSBC branch.
Here is a table of the fees for the HSBC International Student Account:
Fee | Description |
Monthly fee | None |
ATM withdrawal fees | Free at HSBC ATMs in the UK and abroad, and at most other ATMs in the world |
Foreign exchange fees | 2.99% on all overseas transactions |
Overdraft fees | £10 per day for arranged overdrafts, and £20 per day for unarranged overdrafts |
Overall, the HSBC International Student Account is a good option for international students studying in the UK. It has no monthly fees and offers several useful features for students, such as a free international debit card and access to HSBC’s global ATM network. However, it is important to note that the foreign exchange fees are relatively high.
Here are some of the pros and cons of the HSBC International Student Account:
Pros:
- No monthly fees
- Free international debit card
- Access to HSBC’s global ATM network
- 0.1% cashback on overseas spending
- £100 welcome gift
- Free Headspace subscription
Cons:
- High foreign exchange fees
- Limited customer service hours
2- Barclays Student Additions Account (International)
The Barclays Student Additions Account (International) is a bank account designed for international students studying in the UK. It offers several features that are useful for students, including:
- No monthly fees
- Free international debit card
- Access to Barclays’ global ATM network
- 0.9% cashback on overseas spending
- £100 welcome gift
- Free travel insurance
- 24/7 customer support
To be eligible for the Barclays Student Additions Account (International), you must:
- Be 18 years old or over
- Be enrolled as a full-time student at a UK university or college
- Have a valid passport and visa
- Have a UK address
You can apply for the Barclays Student Additions Account (International) online or at any branch.
Here is a table of the fees and charges for the Barclays Student Additions Account (International):
Fee | Description |
Monthly fee | None |
ATM withdrawal fees | Free at Barclays ATMs in the UK and abroad, and at most other ATMs in the world |
Foreign exchange fees | 1.99% on all overseas transactions |
Overdraft fees | £10 per day for arranged overdrafts, and £20 per day for unarranged overdrafts |
Overall, the Barclays Student Additions Account (International) is a good option for international students studying in the UK. It has no monthly fees and offers several useful features for students, such as a free international debit card and access to Barclays’ global ATM network. The foreign exchange fees are also lower than those of the HSBC International Student Account.
Here are some of the pros and cons of the Barclays Student Additions Account (International):
Pros:
- No monthly fees
- Free international debit card
- Access to Barclays’ global ATM network
- 0.9% cashback on overseas spending
- £100 welcome gift
- Free travel insurance
- 24/7 customer support
Cons:
- Limited customer service hours
3- NatWest International Student Account
The NatWest International Student Account is a bank account designed for international students studying in the UK. It offers some features that are useful for students, including:
- Monthly fee of £2
- Free international debit card
- Access to NatWest’s global ATM network
- 1% cashback on overseas spending
- Choice of 3 welcome gifts: 1 year of Amazon Prime Student membership, a 4 year National Express card for 1/3 off all coach travel or a 4 year free tastecard which gets you 50% off food in restaurants around the UK
To be eligible for the NatWest International Student Account, you must:
- Be 17 years old or more
- Have lived in the UK for less than 3 years
- Be enrolled as a full-time student at a UK university or college
- Have a valid passport and visa
You can apply for the NatWest International Student Account online or at any NatWest branch.
Here is a table of the fees and charges for the NatWest International Student Account:
Fee | Description |
Monthly fee | £2 |
ATM withdrawal fees | Free at NatWest ATMs in the UK and abroad, and at most other ATMs in the world |
Foreign exchange fees | 2.75% on all overseas transactions |
Overdraft fees | £10 per day for arranged overdrafts, and £20 per day for unarranged overdrafts
|
Overall, the NatWest International Student Account is a good option for international students studying in the UK. It has a monthly fee, but it offers some useful features for students, such as a free international debit card and access to NatWest’s global ATM network. The foreign exchange fees are also lower than those of the HSBC International Student Account.
Here are some of the pros and cons of the NatWest International Student Account:
Pros:
- Free international debit card
- Access to NatWest’s global ATM network
- 1% cashback on overseas spending
- Choice of 3 welcome gifts
Cons:
- Monthly fee of £2
- High foreign exchange fees
4- Santander International Student Current Account
The Santander International Student Current Account is a bank account designed for international students studying in the UK. It offers a number of features that are useful for students, including:
- Monthly fee of £1
- Free international debit card
- Access to Santander’s global ATM network
- 16-25 Railcard
- Interest-free overdraft of up to £1,500 for the first 3 years of your studies
To be eligible for the Santander International Student Current Account, you must:
- Be 18 years old or over
- Be enrolled as a full-time student at a UK university or college
- Have a valid passport and visa
- Have a UK address
You can apply for the Santander International Student Current Account online or at any Santander branch.
Here is a table of the fees and charges for the Santander International Student Current Account:
Fee | Description |
Monthly fee | £1 |
ATM withdrawal fees | Free at Santander ATMs in the UK and abroad, and at most other ATMs in the world |
Foreign exchange fees | 2.75% on all overseas transactions
|
Overdraft fees | £10 per day for arranged overdrafts, and £20 per day for unarranged overdrafts |
5- TSB Cash Account
The TSB Cash Account is a basic current account that is designed for people who do not need or want all the features of a traditional current account. It is a good option for people who are looking for a simple and straightforward account with no monthly fees.
Here are some of the features of the TSB Cash Account:
- No monthly fees
- Free international debit card
- Access to TSB’s ATM network
- No overdraft facility
- No interest on the balance of your account
To be eligible for the TSB Cash Account, you must:
- Be 16 years old or over
- Have a UK address
You can apply for the TSB Cash Account online or at any TSB branch.
Here is a table of the fees and charges for the TSB Cash Account:
Fee | Description |
Monthly fee | None |
ATM withdrawal fees | Free at TSB ATMs in the UK and abroad |
Foreign exchange fees | 2.75% on all overseas transactions |
Overdraft fees | £10 per day for arranged overdrafts, and £20 per day for unarranged overdrafts |
The TSB Cash Account is a good option for people looking for a simple current account with no monthly fees. However, it is important to note that it does not offer an overdraft facility or interest on the balance of your account.
Here are some of the pros and cons of the TSB Cash Account:
Pros:
- No monthly fees
- Free international debit card
- Access to TSB’s ATM network
Cons:
- No overdraft facility
- No interest on the balance of your account
Other Tips:
- Fees: Some banks charge monthly fees for their student accounts, so choosing an account with no or low fees is important.
- Features: Some student accounts offer useful features for international students, such as free international debit cards and access to ATM networks in other countries.
- Customer service: It is important to choose a bank with good customer service, as you may need to contact them if you have any problems with your account.
- Location: If you are studying in a particular city, choosing a bank with branches in that city is helpful. This will make it easier to deposit cash and withdraw money.
It is also a good idea to compare the offers from different banks before choosing one. You can do this by visiting the websites of different banks or by using a comparison website.
