Which Bank? Just Moved to UK

Stretchryan

Hi all,

So i arrived 3 weeks ago and just got my National Insurance number and start work at the end of next week.

Was in Luxembourg for ten years so any advice on which bank would be the best to open an account with?

Looking for one with ok interest and cheap CC if possible.

Many Thanks for looking

Mike

marty2be2000

With no credit history in the UK you are most likely going to be extremely limited in available options, initially you may need to get whats termed a "Basic" current account with no frills and no interest.

CC options will most likely be limited to sub prime high interest rate cards due to no UK credit history, such as those provided by Vanquis.

Archi_Bald

Lloyds are said to be very helpful to new arrivers. A lot depends on your citizenship.
http://www.lloydsbank.com/banking-with-us/joining-lloyds/new-to-the-uk.asp

benjus

When my wife's cousin came to the UK a couple of years ago she found Barclays quite easy to open an account with.

Alisha2008

If you have an address and a job, no problem to open an account wherever you want.. just check the Banks section to see which are the best current accounts.

starM

As long as you have relevant you should have any problems in opening Lloyds or Barclays account.

benjus

Alisha2008 wrote: »

If you have an address and a job, no problem to open an account wherever you want.. just check the Banks section to see which are the best current accounts.

I'm not sure exactly how it worked for my wife's cousin, but at the time she opened the account she was staying with us and had no official documents showing the address.

macman

I'm not sure either, as the most rudimentary ID check will require proof of address, as well as proof of identity.

tedders

marty2be2000 wrote: »

With no credit history in the UK you are most likely going to be extremely limited in available options, initially you may need to get whats termed a "Basic" current account with no frills and no interest.

CC options will most likely be limited to sub prime high interest rate cards due to no UK credit history, such as those provided by Vanquis.

It depends on many things - citizenship and job references, for instance. As a EU citizen with a job offer, I got a Barclays current account with overdraft from day one. I used a friends' address, which I changed a couple of months later when I found a flat to rent. My first credit card was Barclays Initial card, after approx 6 months here.

InsideInsurance

If you were in Lux for 10 years, what is your nationality?

Mrs was a non-EU national when she came to the UK and had no issues with opening a bank account with NatWest.

She didnt apply for a credit card for a couple of years, she doesnt like debt and rewards etc for CCs isnt something she was aware of, but when she did apply she got the couple of prime cards she applied for (none of which were NatWest)



How are you defining a "cheap" credit card? The majority of cards in the UK dont have annual fees so as long as you pay them off in full each month they have no cost. Many prime cards have interest free introductory periods but after they have expired or if you are looking at sub prime cards then the interest is fairly high in comparison to other lines of credit.

datlex

If I were you OP I would look at which banks have branches in the local town/ area. Not all banks are in all towns. I would then look at the opening hours of each. I would select a bank based on those factors. Once you are established you can always switch or open other accounts.