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Best new first bank account

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Comments

  • mn92
    mn92 Posts: 33 Forumite
    Second Anniversary 10 Posts Name Dropper
    As you are looking for your first bank account why don't you go to a high street bank which will provide you with the opportunity to start building your credit history too. Use it for your normal spending, salary, bills and you should be fine. Also as soon as you have a permanent address, register for the electoral role which will make it easier for you to obtain credit in the future (e.g credit card) after you have build some history with your bank account. Monzo & startling are indeed great for new residents in the uk but they don't report the current account to all three credit reference agencies (Experian, Equifax, Transunion).

    You could start with a bank account in any of the following banks: Lloyds, Halifax, Barclays, NatWest, Santander, HSBC. When I arrived in the uk back in 2015 for studies, my first bank account was with Lloyds Bank. No issues, a simple free current account, and a debit card to start with. Make sure you have a passport and proof of address (e.g utility bills, council tax bill etc)
  • Marchitiello
    Marchitiello Posts: 1,324 Forumite
    Ninth Anniversary 1,000 Posts Photogenic Name Dropper
    I would start with a traditional bank first as well as Starling.

    Whilst it is difficult to open bank accounts for people that have just arrived into the UK, if your employer write an introduction letter for you to open an account with their bank, in my experience, they will always open you a basic account. I Have seen this in business I invest in the hospitality industry quite often, and I would think it would be even easier for a role paying £50k p.a.
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